Oil Market Surplus Strengthens Case For New OPEC Output Cuts
Latest OPEC MOMR sees oil market surplus. OPEC sees slower crude demand growth than the IEA. OPEC may be moving to cut production again after it wound down output cuts Continue Reading
OPEC, IEA oil demand views converging, optimistic over risks
A model of 3D printed oil barrels is seen in front of displayed stock graph going down in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration LAUNCESTON, Australia, Aug 15 Continue Reading
OPEC Sets The Stage For New Output Cuts
OPEC expects global oil markets to tip into surplus this quarter. The surprising revision, which comes at a time of unprecedented pressure by western nations. Analysts are wondering whether OPEC+ Continue Reading
OPEC’s Oil Production Rises But Still Well Below OPEC+ Target
OPEC’s total crude oil production rose by 216,000 barrels per day (bpd) in July compared to June, but combined production from the 10 OPEC members part of the OPEC+ pact Continue Reading
OPEC, in contrast to IEA, sees lower 2022 oil demand growth
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation Continue Reading
OPEC+ Flags Severely Limited Availability of Excess Capacity
The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings. The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Continue Reading
OPEC’s Lackluster Quota Hike Won’t Solve Oil Market Tightness
OPEC+ has agreed to raise oil production by 100,000 bpd following calls from other world powers to ramp up output. The lackluster response from OPEC hints that the bloc may Continue Reading
OPEC+ Flags Severely Limited Availability of Excess Capacity
The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings. The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Continue Reading
OPEC+ might have to raise oil output so market doesn’t overheat, Kazakhstan says
OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels Continue Reading
OPEC oil output rises in July despite outages – survey
OPEC pumped an extra 310,000 barrels of oil per day in July as rising supply from the Gulf offset outages in Nigeria and Libya, a Reuters survey showed on Monday, Continue Reading