The Real Reason Russia Joined OPEC+
Russia is offering Mohammed bin Salman a slew of beneficial deals in order to lure Saudi Arabia away from the U.S. and into Putin’s sphere of influence. Saudi Arabia is Continue Reading
Extra oil cuts from deliquent OPEC+ members could shrink the market by 1 million b/d
Highlights Iraq, Kazakhstan submit plans to make up for overproduction OPEC+ still awaiting cut schedules from Nigeria, Angola Loading programs suggest cuts are in the works London — OPEC+ crude Continue Reading
OPEC May 2020 Oil Production
All OPEC charts below were taken from the latest OPEC Monthly Oil Market Report . All data is through May 2020 and is in thousand barrels per day. OPEC crude Continue Reading
OPEC+ Confident Its Members Will Reach 100% Compliance
OPEC+ emerged from its Joint Ministerial Monitoring Committee (JMMC) on Thursday confident that all members would reach their respective production quotas as laid out in the Declaration of Cooperation—eventually. The JMMC Continue Reading
OPEC: Global Oil Demand To Drop By 6.4 Million Bpd In Second Half 2020
Global oil demand will start to recover in the second half of the year from the crash in the second quarter, but it will still be down by 6.4 million Continue Reading
OPEC forecasts improving oil demand in H2 2020, ahead of key committee meeting
In its latest monthly oil market report released June 17, OPEC kept its 2020 forecasts largely unchanged from the May outlook, noting a historic contraction in oil demand but improving Continue Reading
OPEC+ Meeting Ends Without Recommendation For Further Cuts
The OPEC+ technical committee that met today did not make any additional recommendations for further production cuts, focusing instead on members who are failing to adhere to the current agreement, Continue Reading
Russia Nearly Hits OPEC+ Oil Production Cuts Target
The leader of the non-OPEC group of the OPEC+ pact, Russia, is showing an unprecedented commitment to the ongoing record collective production cuts by almost complying with its share of Continue Reading
OPEC+ Deal Will Bring Oil Back to ‘Normal’ as Producers Commit
Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the oil minister from the United Arab Emirates. When energy markets Continue Reading
The End Of The OPEC Deal Could Be The Start Of A New Oil Price War
Few markets have been hit harder by coronavirus than United States shale. While global oil prices as a whole have taken quite a beating from a fall in oil demand, Continue Reading