Swift OPEC+ Cuts Revive Premiums in Asia Physical Oil Market
Swift and bold output cuts by OPEC and its allies are boosting prices of physical oil barrels in Asia as supply tightens. Premiums for a wide-ranging variety of crude from Continue Reading
OPEC+ Supply Cuts: Latest Oil Market News on Output Status
OPEC+ is responding to the oil market’s collapse with an urgency never seen before. The alliance’s program of production cutbacks this month is well on the way to trimming 9.7 million Continue Reading
OPEC April 2020 Production Data
All OPEC data in the charts below are from the OPEC Monthly Oil Market Report. The data is through April and is in thousand barrels per day. OPEC 13 crude Continue Reading
OPEC revises down global oil demand forecast again, with production cuts in focus
OPEC would have to nearly halve its crude oil production in the second quarter to balance the market, according to the organization’s latest analysis, as the COVID-19 outbreak continues to Continue Reading
Oil rises as OPEC looks to deepen, extend supply cuts
Oil prices rose on Tuesday after OPEC’s de facto leader, Saudi Arabia, said it would increase supply curbs in June, while other members of the oil-producing group said they want Continue Reading
What Will OPEC Do Next?
If you want to know where OPEC’s production is heading, one needs only to look at their next month’s OSP, particularly to its largest market, Asia. This week, Saudi Arabia Continue Reading
OPEC has much cutting to do after April crude output surge: Platts survey
Highlights Bloc pumped 30.79 million b/d in April Saudi Arabia, UAE, Kuwait hit record highs OPEC+ deal imposes tough quotas in May London — OPEC turned up the taps in Continue Reading
OPEC Middle East Oil Flows Surged in April as Saudis Opened Taps
Crude supplies from OPEC’s Middle East exporters, excluding Iran, soared in April to their highest level since at least January 2017. The surge came as Saudi Arabia and the United Continue Reading
OPEC+ Oil Production Hits 13-Month High As Output Cuts Start
After the collapse of the previous OPEC+ deal in early March, OPEC opened the taps in April, pumping at its highest level in 13 months. Top producer Saudi Arabia and Continue Reading
OPEC Sees Oil Rising To $40 In Second Half Of 2020
Oil prices are set to recover with the OPEC+ production cuts and gradual lifting of lockdowns around the world in the second half of 2020, when oil prices “will be Continue Reading