Oil cuts set to ease to 7.7 million b/d in August Current talks focused on ensuring compliance JMMC scheduled to meet July 15 OPEC and its allies have not discussed Continue Reading
The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the Continue Reading
Saudi Arabia’s Crown Prince Mohammed and the president of Nigeria Muhammadu Buhari, discussed the progress of the OPEC+ oil production cut deal this week in a phone call, the Saudi Continue Reading
The leaders of groups affiliated with the Libyan National Army have offered to lift a blockade on oil export terminals that started in January and has so far cost the Continue Reading
Oil demand has rebounded close to 90 million b/d, partly reversing a slump in consumption caused by the COVID-19 pandemic, Saudi Aramco’s president and CEO Amin Nasser has said in Continue Reading
The economy of the six-member Gulf Cooperation Council will shrink 7.6% in 2020, worse than April projections, due to weak oil prices and the coronavirus outbreak, an International Monetary Fund Continue Reading
Saudi Arabia’s Energy Minister Prince Abdulaziz claimed last week that the Kingdom will be the world’s biggest hydrocarbon producer “even” in 2050. “I can assure that Saudi Arabia will not Continue Reading
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 12% in June, the oil ministry said July 1, a sign that OPEC’s second-largest producer improved its compliance with Continue Reading
After years of dragging its feet on complying with OPEC oil production quotas, Iraq has taken its biggest steps towards implementing its agreed output cuts, as a campaign of financial Continue Reading
“With the chapter 11 restructuring process, we will strengthen our financial position and increase our liquidity, at the same time creating a sustainable platform to allow us to successfully weather Continue Reading
