OPEC’s forecasts point to an oil supply deficit in August and in the rest of 2021 as economies recover from the pandemic, suggesting the group and its allies have room Continue Reading
Highlights Members will meet online July 1 to decide on August quotas Robust demand growth prompts talk of $100/b oil prices Pandemic recovery, Iran nuclear talks remain uncertainties Dated Brent Continue Reading
OPEC+ is discussing whether to further boost production at next week’s meeting as the oil market looks increasingly tight. Moscow is considering making a proposal that the group should ease Continue Reading
OPEC+ is discussing a further gradual increase in oil output from August as oil prices rise on demand recovery, but no decision had been taken on the exact volume yet, Continue Reading
Despite $70 oil, U.S. shale producers are not expected to significantly raise crude production this year as they continue to be focused on disciplined capital expenditures and returning more cash Continue Reading
Shale outlook discussed at Tuesday OPEC technical meeting U.S. output growth seen at about 200,000 bpd in 2021 Capital discipline remains focus for shale companies, OPEC told OPEC meets to Continue Reading
The energy transition should not crowd out any source of energy as all energy sources of today will be required for the foreseeable future, OPEC Secretary General Mohammad Barkindo said. Continue Reading
Energy Minister Prince Abdulaziz bin Salman Saudi Arabia’s cautious approach to reviving OPEC+ oil output has been proved correct, said Energy Minister Prince Abdulaziz bin Salman. After a year of Continue Reading
The OPEC+ alliance has taken decisive actions to help reduce oil market volatility, OPEC Secretary-General Mohammad Barkindo said on Tuesday at the opening of the meeting of OPEC’s economic and Continue Reading
The OPEC Monthly Oil Market Report for June 2021 was published this past week. The last month reported in each of the charts that follow is May 2021 and output Continue Reading
