OPEC+ meets to review compliance with oil cuts
OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic. Continue Reading
Saudis Keep Pressure on OPEC Cheats Before Ministerial Talks
Saudi Arabia kept up the pressure on OPEC+ nations that have been exceeding their oil-output targets, hours before a meeting to discuss their agreement. King Salman bin Abdulaziz called Nigerian President Continue Reading
OPEC+ Complied 95% With Oil Production Cuts In July
The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, four sources from the group told Reuters on Monday, which is a level Continue Reading
OPEC July 2020 Production Charts
The data is through July 2020 and is in thousand barrels per day. OPEC crude only was up almost one million barrels per day in July. The lions share of Continue Reading
OPEC+ monitoring committee pushes back meeting to Aug. 19
The OPEC+ Joint Ministerial Monitoring Committee has pushed back its next online meeting by a day to Aug. 19, due to a request from Russia, according to officials. The committee, Continue Reading
Russia Doesn’t Expect OPEC+ To Change Course
The OPEC+ panels will not be discussing next week any revisions of the ongoing production cut pact and are not expected to make any major decisions to tweak the deal, Continue Reading
OPEC Middle East Oil Flows Edge Higher on Easing of Output Cuts
Oil exports from OPEC’s Middle East producers rose in July after Saudi Arabia and key Persian Gulf allies reversed the voluntary production cuts they had made the previous month. The Continue Reading
OPEC Raised Supply Last Month as Gulf Nations Ended Extra Cuts
OPEC’s crude production rose last month as Persian Gulf members phased out extra supply cutbacks, but the cartel largely persevered with its strategy to revive the global oil industry. Saudi Arabia, Continue Reading
OPEC+ Prepares to Pump More Oil
From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus. That poses a particularly delicate challenge Continue Reading
OPEC May Have To Adapt To Lower-For-Longer Oil Demand
OPEC is trying to come to terms with the idea that the coronavirus crisis may have brought with it permanent changes in consumer behavior, stifling oil demand over the next Continue Reading