OPEC March Data and Saudi Report
The below OPEC charts were taken from data in the OPEC Monthly Oil Market Report . All data is through March 2019 and is in thousand barrels per day. There Continue Reading
Russian Official Hints At End Of Oil Cuts After June
A senior Russian official has suggested Russia will press for an end of the OPEC+ production cuts after the end of June when the original agreement expires, Reuters reports . Continue Reading
Russian sovereign fund sees OPEC+ alliance withstanding changes to output policy
Participants in the OPEC/non-OPEC crude production cut deal may change their approach to output levels this year, but the cooperation can withstand such changes, the head of the Russian Direct Continue Reading
Saudi says May will be key to decide on extending oil supply cuts
The Saudi energy minister said on Monday it was premature to say whether a consensus existed among OPEC and its allies to extend oil supply cuts, but a meeting next Continue Reading
Platts Survey: OPEC Oil Production Down To More Than 4-Year Low
Over-delivering Saudi Arabia and blackouts in Venezuela helped push OPEC’s crude oil production down by 570,000 bpd from February to 30.23 million bpd in March—the lowest production from the cartel Continue Reading
Why Oil Markets Need New OPEC+ Cuts
As oil prices approach $70 a barrel, Rystad Energy expects that a short-lived price rally through the first half of 2020 will then lose momentum and be replaced by a Continue Reading
OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts
OPEC oil supply sank to a four-year low in March, a Reuters survey found, as top exporter Saudi Arabia over-delivered on the group’s supply-cutting pact while Venezuelan output fell further Continue Reading
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015
OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela Continue Reading
Oil Prices Fall As Trump Targets OPEC On Twitter
President Donald Trump called OPEC out on Twitter once again on Thursday, pressing the oil “monopoly” to stop driving prices higher. The US President’s latest tweet, while calling on the Continue Reading
Exclusive: OPEC struggles to keep Russia on board with oil cut, may offer shorter extension
Saudi Arabia is having a hard time convincing Russia to stay much longer in an OPEC-led pact cutting oil supply, and Moscow may agree only to a three-month extension, three Continue Reading