OPEC and its allies are expected to stick with their current plan of gradually increasing output monthly, unless disrupted by unforeseen external factors, said Joseph McMonigle, Secretary General of the Continue Reading
Oil Market to Return to Surplus in 2022, ING Says OPEC+ officials warned they’re likely to respond to plans by the world’s largest oil consumers to release oil from their Continue Reading
OPEC+ has issued a grave warning to countries that look to release crude oil from their strategic reserves OPEC delegates: releasing millions of barrels from major oil consumers’ SPRs is Continue Reading
Crude oil seaborne exports from West Africa slumped below 3.5 million barrels per day in October, down from 3.84 million bpd in September as the continent’s major producer, Nigeria, struggled Continue Reading
The so-called No Oil Producing and Exporting Cartels Act, would give the U.S. Department of Justice the powers to sue OPEC members for manipulating oil prices and controlling production The Continue Reading
OPEC+ compliance with oil production cuts stood at 116% in October, up from 115% the previous month, internal data seen by Reuters showed, indicating the group continues to produce less Continue Reading
The OPEC+ group’s compliance rate with the oil production cuts rose to 116 percent in October from 115 percent in September, as the alliance, especially the OPEC members in the Continue Reading
OPEC+ countries’ seaborne exports for October and the first half of November have seen a clear increase. Amid other factors, this has helped pause the oil price rally over the Continue Reading
OPEC is seeing signs of an oil supply surplus building from next month so its members and allies will have to be “very, very cautious” when they review output policy Continue Reading
OPEC said the global oil market will switch from being under- to over-supplied as early as next month as the economic rebound from the coronavirus pandemic falters. The group’s Secretary-General Continue Reading
