The impact of Hurricane Ida and other oil supply outages will take a sizable chunk out of global oil production this year, the International Energy Agency said Tuesday. In its Continue Reading
OPEC saw its crude oil production rise by 150,000 barrels per day (bpd) in August, data from secondary sources in the cartel’s monthly report showed, but even at higher quotas, Continue Reading
OPEC could revise down its forecasts for global oil demand in 2022, in view of the increased uncertainty with the Delta variant, two OPEC+ sources told Reuters on Friday. OPEC Continue Reading
Highlights Alliance fails to take full advantage of rising quotas Iraq, Russia, Saudi Arabia, UAE post biggest increases Kazakhstan maintenance, Nigeria oil spill limit gains OPEC and its allies nudged Continue Reading
The head of Russia’s No. 2 oil producer Lukoil (LKOH.MM) said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was Continue Reading
OPEC boosted crude production last month as it continued the revival of supplies halted during the pandemic, but some members struggled to keep up. (Bloomberg) — OPEC boosted crude production Continue Reading
Highlights Producer alliance counting on tight market to absorb increase Delegates say no discussions of November output levels Next OPEC+ meeting scheduled for Oct. 4 Seeing hearty global oil demand Continue Reading
The September meeting of OPEC+ today wasn’t expected to erupt in vehement disagreements. Unlike the last meeting, when a rift between Saudi Arabia and the UAE caused worry that the Continue Reading
OPEC+ expects the oil market to be in deficit at least until the end of 2021 and stocks to stay relatively low until May 2022, OPEC+ sources said on Tuesday, Continue Reading
Despite the COVID resurgence, the oil market will become increasingly tight this year, OPEC+ estimates show , but as the group continues to ease the production cuts into next year, Continue Reading
