The OPEC+ Stalemate Isn’t Over Just Yet
The battle over oil production quotas within OPEC+ is not yet resolved, according to an official statement from the UAE, although some earlier reports suggested that this was so. But Continue Reading
UAE Closes In on Oil Output Deal to Resolve Standoff With OPEC+
The United Arab Emirates has made significant progress in resolving its standoff with OPEC+, nearing a compromise that could give the country a more generous output limit next year and Continue Reading
OPEC Spat Spotlights Saudi Arabia’s Struggle to Kick Oil Dependency – WSJ
Saudi Arabia’s crown prince pledged five years ago to unshackle the economy from oil by 2020. But as the world’s top crude exporter seeks to maintain growth and generate jobs, Continue Reading
Why Saudi Arabia Is Likely To Win The OPEC+ Standoff
OPEC+ could take until August to decide whether to adjust production baselines, Arab News reported , citing JP Morgan analyst Christian Malek. According to Malek, the oil cartel could take Continue Reading
OPEC+ Still Far From Resolving UAE-Saudi Spat
The odds of an OPEC+ meeting this week look increasingly unlikely as the group has failed to make progress in resolving the differences between key OPEC members Saudi Arabia and Continue Reading
OPEC+ impasse risks price war as demand surges, says IEA
Stalled talks by top oil producers over releasing more supply could deteriorate into a price war just as COVID-19 vaccines are sending demand for oil surging, the International Energy Agency Continue Reading
OPEC+ yet to make progress in resolving impasse, sources say
OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting Continue Reading
OPEC+ Uncertainty, Virus Variant Worries Linger in Oil Market, IEA Says
The recent failure of OPEC and its allies to agree on a plan to ease production cuts in August means oil-market investors face the contradictory worries of both undersupply and Continue Reading
OPEC’s Spat Isn’t Even About Oil
The UAE took oil market watchers by surprise this month when it dug its heels in and refused to agree to an extension of the current OPEC+ production control deal Continue Reading
OPEC+ hikes June output by 540,000 b/d amid higher demand for crude
Saudi pumps at a five-month high of 8.97 mil b/d Russian output flat at 9.51 mil b/d OPEC+ quota compliance dips to 110% Iraq, Nigeria improve their compliance OPEC and Continue Reading