The OPEC+ Stalemate Isn’t Over Just Yet
The battle over oil production quotas within OPEC+ is not yet resolved, according to an official statement from the UAE, although some earlier reports suggested that this was so. But Continue Reading
UAE Closes In on Oil Output Deal to Resolve Standoff With OPEC+
The United Arab Emirates has made significant progress in resolving its standoff with OPEC+, nearing a compromise that could give the country a more generous output limit next year and Continue Reading
The IEA Warns Of Another Oil Price War
The oil market has been on edge for a week now, entertaining the possibility of a new price war within the OPEC+ alliance, the International Energy Agency (IEA) said on Continue Reading
OPEC Spat Spotlights Saudi Arabia’s Struggle to Kick Oil Dependency – WSJ
Saudi Arabia’s crown prince pledged five years ago to unshackle the economy from oil by 2020. But as the world’s top crude exporter seeks to maintain growth and generate jobs, Continue Reading
OPEC+ Uncertainty, Virus Variant Worries Linger in Oil Market, IEA Says
The recent failure of OPEC and its allies to agree on a plan to ease production cuts in August means oil-market investors face the contradictory worries of both undersupply and Continue Reading
Why Saudi Arabia Is Likely To Win The OPEC+ Standoff
OPEC+ could take until August to decide whether to adjust production baselines, Arab News reported , citing JP Morgan analyst Christian Malek. According to Malek, the oil cartel could take Continue Reading
OPEC+ Still Far From Resolving UAE-Saudi Spat
The odds of an OPEC+ meeting this week look increasingly unlikely as the group has failed to make progress in resolving the differences between key OPEC members Saudi Arabia and Continue Reading
OPEC+ impasse risks price war as demand surges, says IEA
Stalled talks by top oil producers over releasing more supply could deteriorate into a price war just as COVID-19 vaccines are sending demand for oil surging, the International Energy Agency Continue Reading
OPEC+ yet to make progress in resolving impasse, sources say
OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting Continue Reading
IEA Warns of Much Tighter Oil Market Unless OPEC+ Boosts Supply
Global oil markets are set to “tighten significantly” unless the OPEC+ alliance resolves its standoff and agrees to increase production, the International Energy Agency warned. Deadlocked by a dispute between Continue Reading