OPEC+ set to stick to modest output hike for July, sources say
OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six Continue Reading
OPEC+ Unlikely To Boost Oil Production More Than Planned
The OPEC+ group is expected to rubberstamp next week its moderate monthly increases in oil production when it decides output levels for July, six sources at OPEC+ told Reuters on Continue Reading
OPEC+ Ministers Say Pumping More Oil Won’t Ease Gasoline Prices
Oil Tumbles as Virus Lockdowns in China Pummel Economy Saudi Arabia’s energy minister said a dearth of refining capacity meant that gasoline and other oil products would remain expensive even Continue Reading
OPEC Cuts Global Oil Demand Growth Forecast, Again
OPEC cuts world economic growth estimate to 3.5% from 3.9% last month. OPEC now sees growth of 3.36 million bpd in 2022 compared to 2021. OPEC: Demand in 2022 is Continue Reading
OPEC+ April crude oil output tumbles as sanctions hit Russian output: Platts survey
Crude oil production by OPEC and its partners fell to a six-month low of 41.58 million b/d in April as Russian production took a battering from Western sanctions, the latest Continue Reading
Saudi, UAE energy ministers say NOPEC bill risks destabilizing the oil market
Ministers warn that energy investment at crisis levels No current shortage in the oil market, Mazrouei says OPEC+ blamed unfairly for high prices, Prince Abdulaziz says Targeted by so-called NOPEC Continue Reading
OPEC Stays Silent As EU Rushes To Ban Russian Oil
OPEC+ concludes Ministerial meeting with very small additional production increase. OPEC leaves EU ban of Russian crude undiscussed. EU sanction drive against Russia has proved to be a boon for Continue Reading
NOPEC: America’s Last Stand Against OPEC’s Drift To The East
U.S. Senate Judicial Committee passed the NOPEC bill on Thursday. Washington ups the ante on former Middle East allies. The NOPEC bill could have serious consequences for OPEC as a Continue Reading
Analysis: Nigeria and Angola responsible for almost half of OPEC+ oil supply gap
Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data seen by Reuters shows, reflecting a number of factors including Continue Reading
OPEC+ set to stick to modest oil output rises amid price rally
OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due Continue Reading