Despite a moderate price rebound on Wednesday, oil markets have been under significant pressure since last week. Brent prices closed the week at $42.66, down by 6.88% w/w , while Continue Reading
Highlights OPEC pumps 24.37 mil b/d, non-OPEC adds 12.67 mil b/d Saudi Arabia slightly below quota, while Russia just over UAE crude production surges to 2.74 mil b/d Iraq under Continue Reading
Saudi Arabia’s King Salman bin Abdulaziz al-Saud and Russian President Vladimir Putin both expressed “satisfaction” with the implementation of the OPEC+ crude oil output deal and discussed ways to address Continue Reading
OPEC’s 60th anniversary celebrations have been postponed in the wake of the Covid-19 pandemic. OPEC’s 60th anniversary celebrations have been postponed in the wake of the Covid-19 pandemic. The celebrations Continue Reading
OPEC produced more oil in August than it did in July as the cartel continued to relax its production cuts, a Reuters survey has revealed, with recovering demand also stimulating Continue Reading
The Saudi royal running the kingdom’s oil policy is achieving something his predecessor never did: bringing the quota cheats of OPEC+ to heel. Prince Abdulaziz bin Salman has done this through Continue Reading
The OPEC+ group has as much as 2.31 million barrels per day (bpd) of oil production above the collective quota for May-July to offset in August and September, Reuters reported Continue Reading
The oil market is on the path to rebalancing, but with uncertainties about how quickly the world can recover from the COVID-19 pandemic, the Saudi and Russian co-chairs of a Continue Reading
Saudi Arabia redoubled its crusade for OPEC+ compliance Aug. 19, laying pressure on the alliance’s quota violators to make up for their excess crude production with deeper cuts in the Continue Reading
Russia is complying 100% with the OPEC+ production cut quota, according to Alexander Novak, who spoke to Rossiya-24 television on Wednesday, Russian news agency Tass reported. “We are at a Continue Reading
