Russia’s Gazprom Neft supports OPEC+ deal after 2022
Alexander Dyukov, the head of Russian oil producer Gazprom Neft, said on Friday it would be “logical” to keep the current OPEC+ agreement to manage oil output after 2022. In Continue Reading
OPEC+ lifts crude output by 500,000 b/d in November amid omicron uncertainty
Highlights OPEC boosts output by 300,000 b/d Non-OPEC allies lift production by 200,000 b/d Saudi Arabia, Kazakhstan, Iraq, Nigeria post steady gains OPEC+ quota compliance dips to 112.31% OPEC and Continue Reading
COVID cases spike even as US hits 200M vaccine milestone
The number of Americans fully vaccinated against COVID-19 reached 200 million Wednesday amid a dispiriting holiday-season spike in cases and hospitalizations that has hit even New England, one of the Continue Reading
OPEC official hits at ‘misguided’ efforts to pare oil and gas
Attempts to cut investment in oil and gas to combat climate change are “misguided,” OPEC Secretary-General Mohammad Barkindo told an energy conference on Wednesday, arguing that producers have a critical Continue Reading
How OPEC+ Regained Control Of Oil Markets
The combination of strategic petroleum releases from major oil importers and the discovery of a new Covid variant sent oil prices crashing last week There was plenty of pressure on Continue Reading
OPEC+ Confidence And Caveats Calm A Crazed Oil Market
OPEC+ managed to stabilize oil prices after what had been an incredibly volatile week, with the cartel adding plenty of caveats to its decision to stick to its plan vis-a-vis Continue Reading
OPEC+ To Add 400,000 Bpd In January Despite Oil Price Plunge
OPEC+ agreed to ease production cuts in January by 400,000 bpd OPEC+: There will also be an extension of the compensation cuts Saudi Arabia and Russia had already signaled that Continue Reading
OPEC+ weighs output policy amid oil price slide, Omicron fears
OPEC and its allies will decide on Thursday whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a U.S. release from oil Continue Reading
IEA Head: Gas Producers Are To Blame For Energy Crisis In Europe
IEA’s Birol: The recent price spikes in natural gas did not get good marks from millions of consumers around the world Strikes at energy exporters—and Russia—have become something of a Continue Reading
Russia, OPEC+ seen moving closer on fiscal breakeven oil prices
Highlights Increase in oil output would require drilling investment Russia has pushed for increase to output quota in past Gap narrows between Russian, Saudi Arabian breakeven oil prices Lower fiscal Continue Reading