Crude oil buyers in Asia are concerned that an unexpected cancellation of an OPEC+ meeting to discuss a rise in output could drive oil prices even higher and hurt their Continue Reading
A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the Continue Reading
The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. The Organization of Continue Reading
A few years ago, the United Arab Emirates and Saudi Arabia went as far as secretly drawing a plan for a political union.While a confederation did not materialize, the Gulf’s Continue Reading
Highlights UAE’s ADNOC spending $122 bil through 2025 ADNOC boosting capacity to 5 mil b/d by 2030 It wants Murban futures to become benchmark OPEC is no stranger to squabbles, Continue Reading
Current Oct 2018 baseline is unfair: UAE energy ministry Wants extension of current pact beyond April 2022 to be discussed later OPEC+ to meet virtually July 5 to resume talks Continue Reading
OPEC+ ministers set to meet July 5 to resolve impasse Saudi and UAE disagree over extension of current pact Iraq is OPEC’s second biggest producer Iraq supports the proposal to Continue Reading
OPEC+ agreed on Friday to add more oil to the market from August and extend the duration of their pact on their remaining production curbs for longer, even though the Continue Reading
OPEC+ allies were locked in a tense diplomatic standoff on Friday amid a dispute that threatens to send oil prices sharply higher. A day after the alliance was forced to Continue Reading
As agreed in April, OPEC opened the taps in the second quarter of the year to meet a rebound in global oil demand, boosting crude production by 855,000 barrels per Continue Reading
