OPEC is forecasting an unlikely winner amid an energy shift away from hydrocarbons, predicting the cartel itself will dramatically boost its influence in the global oil market over the next Continue Reading
OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. (Bloomberg) — OPEC and Continue Reading
The OPEC+ group lifted its production in August, but underinvestment and maintenance work has hampered the group’s ability to raise production—and supply could be insufficient to meet the world’s growing Continue Reading
OPEC+ compliance with oil production cuts rose to 116% in August from 109% in July, two sources from the producer group told Reuters. Subscribe for our daily curated newsletter to Continue Reading
The OPEC Monthly Oil Market Report for September 2021 was published this past week. The last month reported in each of the charts that follow is August 2021 and output Continue Reading
China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move that Bloomberg Continue Reading
OPEC saw its crude oil production rise by 150,000 barrels per day (bpd) in August, data from secondary sources in the cartel’s monthly report showed, but even at higher quotas, Continue Reading
OPEC could revise down its forecasts for global oil demand in 2022, in view of the increased uncertainty with the Delta variant, two OPEC+ sources told Reuters on Friday. OPEC Continue Reading
Highlights Alliance fails to take full advantage of rising quotas Iraq, Russia, Saudi Arabia, UAE post biggest increases Kazakhstan maintenance, Nigeria oil spill limit gains OPEC and its allies nudged Continue Reading
The head of Russia’s No. 2 oil producer Lukoil (LKOH.MM) said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was Continue Reading
