OPEC and its allies maintained strong compliance with agreed oil output targets in May, when the first part of a gradual production increase took effect, according to figures given by Continue Reading
Oil prices climbed on Friday as the IEA boosted optimism about global oil demand recovery. Friday, June 11th, 2021 Oil prices showed modest gains on Friday, after a selloff on Continue Reading
Trims H2 21 ‘call’ on OPEC but warns of supply-demand ‘chasm’ Non-OPEC+ oil output to rise 1.6 million b/d in 2022 Home-working, vehicle efficiency, EVs to impact gasoline Global oil Continue Reading
OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China despite uncertainties stemming from the pandemic, pointing to a Continue Reading
Global oil demand will rise by 6 million barrels per day (bpd) this year from the lows of 2020, led by strong consumption in China and the United States, especially Continue Reading
OPEC’s crude oil production rose by 390,000 barrels per day (bpd) to 25.46 million bpd in May 2021, the cartel said on Thursday as it started last month the gradual Continue Reading
Crude oil production from OPEC and its allies jumped 430,000 b/d in May, the latest S&P Global Platts survey found, led by Saudi Arabia, which accounted for about 84% of Continue Reading
OPEC and its allies expect oil inventories to fall further in the coming months, OPEC’s secretary general said on Monday, suggesting efforts by the producers to support the market are Continue Reading
A Vitol Group oil storage site in Cyprus. OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s Continue Reading
Vagit Alekperov, the head of Russia’s second-largest oil company Lukoil (LKOH.MM) , said on Thursday that he expects the group of leading oil producers, known as OPEC+, will decide to Continue Reading
