OPEC boosted crude production last month as it continued the revival of supplies halted during the pandemic, but some members struggled to keep up. (Bloomberg) — OPEC boosted crude production Continue Reading
Highlights Producer alliance counting on tight market to absorb increase Delegates say no discussions of November output levels Next OPEC+ meeting scheduled for Oct. 4 Seeing hearty global oil demand Continue Reading
The September meeting of OPEC+ today wasn’t expected to erupt in vehement disagreements. Unlike the last meeting, when a rift between Saudi Arabia and the UAE caused worry that the Continue Reading
OPEC+ expects the oil market to be in deficit at least until the end of 2021 and stocks to stay relatively low until May 2022, OPEC+ sources said on Tuesday, Continue Reading
Despite the COVID resurgence, the oil market will become increasingly tight this year, OPEC+ estimates show , but as the group continues to ease the production cuts into next year, Continue Reading
OPEC has been pumping in August the highest volume of crude oil since April 2020, after the OPEC+ alliance agreed to ease the production cuts by 400,000 barrels per day Continue Reading
OPEC and its allies will likely stick to their existing policy of gradual oil output increases despite revising up the 2022 demand outlook and facing U.S. pressure to raise production Continue Reading
Crude oil prices could rise further if OPEC+ stops adding barrels to global supply, which is a possibility after the cartel’s next meeting, according to the Kuwaiti oil minister. “The Continue Reading
OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters. The Continue Reading
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to Continue Reading
