OPEC+ Is Set to Cool Down Oil Market With Extra Production
OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices. There’s a widespread view within the group that the market Continue Reading
OPEC+ Decision To Raise Output Could Keep U.S. Gasoline Under $3
Rallying oil prices in recent weeks have intensified speculation that this week the OPEC+ group will decide to put more oil on the market as of April to prevent an Continue Reading
OPEC Oil Production Plunges In February Thanks To Saudi Cut
Saudi Arabia’s unilateral additional cut in oil production sent the total OPEC output down by 870,000 barrels per day (bpd) in February, the first monthly drop in the cartel’s production Continue Reading
OPEC+ Faces Calls to Cool Oil Market Frenzy With Extra Barrels
From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide Continue Reading
UAE says OPEC adding 1.5 mil b/d in April hinges on vaccine rollout, demand recovery
The chance of OPEC and its allies agreeing to increase crude output by 1.5 million b/d for April will hinge on a successful rollout of the COVID-19 vaccines and its Continue Reading
OPEC+ Compliance With Oil Production Cuts Jumps To 103%
The OPEC+ group of producers complied at 103 percent with the oil output cuts in January, higher than the estimated compliance in December, Argus reports , citing three delegates from Continue Reading
OPEC+ Considers Production Increase At March Meeting
OPEC+ will discuss the possibility of increasing its oil production levels at the next meeting, OPEC+ sources told Reuters on Wednesday. The group is set to meet on March 4, Continue Reading
Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts
The leaders of the OPEC+ alliance, Saudi Arabia and Russia, are reportedly once again at odds over oil supply management ahead of another crucial meeting of the group next week. Continue Reading
Saudi Arabia Set to Raise Oil Output Amid Recovery in Prices
Saudi Arabia plans to increase its oil output in the coming months, reversing a recent big production cut, say advisers to the Kingdom, a sign of growing confidence over an Continue Reading
Insight from Moscow: Russia’s strong economic position among OPEC+ members underpins its negotiating power
In early 2021 Russia secured an increase to its oil output quota under the OPEC+ agreement for February and March, the latest sign that Russia’s comparatively strong economic position is Continue Reading