OPEC+ ministers will convene Feb. 3 for a monitoring committee meeting that could provide the first signs of whether festering divisions will re-emerge when the alliance must decide how much Continue Reading
OPEC and its partners estimate they implemented 99% of their agreed oil-supply curbs in December, according to a delegate who asked not to be named. The 23-nation alliance known as OPEC+ Continue Reading
OPEC’s crude oil production has increased by 160,000 barrels per day (bpd) in January as the OPEC+ alliance is easing the output cuts in the first month of 2021, the Continue Reading
The Organization of Petroleum Exporting Countries withheld some 1.3 billion barrels of oil supply last year to keep prices from falling even further, the secretary-general of the cartel said. “I Continue Reading
Stability in the oil market will be critical to the energy transition, OPEC Secretary General Mohammed Barkindo said Jan. 27, arguing that volatile prices would harm the global economy and Continue Reading
The producers part of the OPEC+ alliance complied with the oil output cuts at 99 percent in December 2020, down from 101 percent compliance in November, sources at the OPEC+ Continue Reading
Global vaccination campaigns and the resumption of international air traffic will support oil prices within $55-$60/b in the near term, but OPEC will be closely watching for clearer signals from Continue Reading
OPEC’s crude oil export revenues for 2020 could decline to $323 billion, the U.S. Energy Information Administration said in a new report, noting that this would be the lowest revenue Continue Reading
OPEC Monthly Oil Market Report for December 2020 was published this week. The last month reported in each of the charts that follow is December 2020 and the output reported Continue Reading
Global oil stockpiles fell to a seven-month low in November but OPEC, which kept its 2021 demand outlook little changed from last month’s forecast, has signaled it is still trying Continue Reading
