Category: OPEC

The OPEC Monthly Oil Market Report (MOMR) for October 2022 was published recently. The last month reported in most of the OPEC charts that follow is September 2022 and output Continue Reading

A U.S. Senate committee this week quietly advanced a bill that seeks to rein in OPEC+ after the oil producer group led by Saudi Arabia and Russia this month agreed Continue Reading

 The OPEC+ oil producers group moved unanimously to cut output to prevent a crisis and stem a tide of volatility, OPEC’s secretary-general told an energy conference in South Africa on Continue Reading

Simon Watkins is a former senior FX trader and salesman, financial journalist, and OPEC+ decision to cut output by 2 million bpd has sparked angers in the White House. Bipartisan Continue Reading

OPEC+ decision to cut output may lead to supply deficit in oil markets. Global oil inventories are in a decline that would be difficult to reverse. U.S. distillate inventories are Continue Reading

A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency Continue Reading

The decision by the Organization of the Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market – but Continue Reading

‘This has led to speculation that Washington may seek to further ramp-up pressure on the group, including via revival of the NOPEC bill’. OPEC+’s latest production cut will further raise Continue Reading

OPEC+ output rises 170,000 b/d, quota gap at 3.6 mil b/d Saudi Arabia pumps near quota, but Russia stagnates Nigeria hits lowest since Platts survey began in 1988 Not registered? Continue Reading

 production cut by the OPEC+ oil cartel is reigniting U.S. voters’ No. 1 fear – high inflation – and handing a potential boost to Republican candidates less than five weeks Continue Reading

OPEC+ on Wednesday decided to cut output quota by 2 million bpd. Heightened volatility in oil markets has been one of the key reasons for OPEC+ to cut output. A Continue Reading

U.S. President Joe Biden is disappointed. U.S. President Joe Biden is disappointed by OPEC+’s decision to cut production quotas, according to a White House statement from National Security Advisor Jake Continue Reading

The White House has accused Opec+ of aligning with Russia after Saudi Arabia led the group in agreeing deep oil production cuts, prompting a backlash from countries already battling surging Continue Reading

 Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of European Union embargoes Continue Reading

The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates. Stephen Stapczynski reports. Oil surged near $83 a barrel Continue Reading

WATCH: Fereidun Fesharaki of FGE,discusses the possibility of OPEC+ cutting its production by 1 million barrels a day, what the cut will mean for prices and where he sees them Continue Reading

Goldman’s Currie: Oil Market Will Continue to Tighten Sign up for our Middle East newsletter and follow us @middleeast for news on the region. OPEC+ will consider cutting oil output Continue Reading

 OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some delegations due Continue Reading

 OPEC oil output rose in September to its highest since 2020, surpassing a pledged hike for the month, after production in Libya recovered from disruption and Gulf members boosted output Continue Reading

Leading OPEC+ members have begun discussions about an oil output cut at the group’s next meeting on Oct. 5, three sources told Reuters. One OPEC source told Reuters a cut Continue Reading

 Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint Continue Reading

 OPEC+ is now producing below its targets by a record 3.58 million barrels per day – about 3.5% of global demand – highlighting underlying tight supply in the oil market, Continue Reading

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OPEC+ fell short of its oil production target by 3.583 million barrels per day (bpd) in August, an internal document showed, having missed target by 2.892 million bpd in July. Continue Reading

OPEC+ cut its production target by 100,000 bpd this week, a move that was largely symbolic due to the group’s underproduction. After an initial spike in prices, markets appear to Continue Reading

Highlights OPEC+ production up 260,000 b/d in August Kazakh, Nigerian losses temper Libyan, Gulf gains Output is 3.61 mil b/d below target, most in OPEC+ history Not registered? Receive daily Continue Reading

OPEC+ cut oil production targets by 100,000 barrels per day for the month of October. Though the cut was minimal, it could signal that further production cuts are on the Continue Reading

OPEC+ members have trusted their chairman, Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud, to intervene whenever necessary to stabilize crude markets through calling for a meeting at any time Continue Reading

OPEC+ meeting ends with small production cut decision. Russia was said to have resisted a production cut ahead of the meeting. OPEC+ decided that it could call a meeting at Continue Reading

Wary of a global economic slowdown, OPEC and its allies will trim their production quotas by 100,000 b/d in October, despite what appears to be a tight physical market, as Continue Reading

OPEC+ is expected to keep its October crude oil production target stable from the September quota when the group meets on September 5 to review oil market conditions, a majority Continue Reading

The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and NON-OPEC meeting, Austria December 6, 2019. REUTERS/Leonhard Foeger Aug 31 Continue Reading

The OPEC Monthly Oil Market Report (MOMR) for August 2022 was published recently. The last month reported in most of the OPEC charts that follow is July 2022 and output Continue Reading

Numerous OPEC+ ministers have bemoaned oil prices volatility in recent weeks. Standard Chartered: when OPEC+ says volatility, what they really mean is ‘falling crude prices’ StanChart sees oil’s fundamentals as Continue Reading

The UAE could support OPEC+ production cuts. Some OPEC+ producers, including Iraq, Venezuela, and Kazakhstan, have also signaled support for new production restrictions. OPEC+ meets next on September 5 to Continue Reading

High oil prices have been beneficial for OPEC+, an alliance of oil-producing countries that controls more than half of the world’s output. WSJ’s Shelby Holliday explains what OPEC+ countries are Continue Reading

OPEC+ sources: members produced 2.9 million bpd below output targets in July. The gap between overall quota and actual oil production from the OPEC+ members has been growing for more Continue Reading

A recent oil-price slide reflects fears of economic slowdown and masks physical market fundamentals, OPEC’s new secretary general told Reuters, as he took a relatively optimistic view on the outlook Continue Reading

While OPEC often finds itself the usual suspect when it comes to high crude oil and gasoline prices, it is not behind the current inflation trend, OPEC Secretary General Haitham Continue Reading

Latest OPEC MOMR sees oil market surplus. OPEC sees slower crude demand growth than the IEA. OPEC may be moving to cut production again after it wound down output cuts Continue Reading

A model of 3D printed oil barrels is seen in front of displayed stock graph going down in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration LAUNCESTON, Australia, Aug 15 Continue Reading

OPEC expects global oil markets to tip into surplus this quarter. The surprising revision, which comes at a time of unprecedented pressure by western nations. Analysts are wondering whether OPEC+ Continue Reading

OPEC’s total crude oil production rose by 216,000 barrels per day (bpd) in July compared to June, but combined production from the 10 OPEC members part of the OPEC+ pact Continue Reading

OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation Continue Reading

The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings. The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Continue Reading

OPEC+ has agreed to raise oil production by 100,000 bpd following calls from other world powers to ramp up output. The lackluster response from OPEC hints that the bloc may Continue Reading

The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings. The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Continue Reading

OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels Continue Reading

OPEC pumped an extra 310,000 barrels of oil per day in July as rising supply from the Gulf offset outages in Nigeria and Libya, a Reuters survey showed on Monday, Continue Reading