Further OPEC+ Production Cuts Could Be Looming
OPEC+ cut oil production targets by 100,000 barrels per day for the month of October. Though the cut was minimal, it could signal that further production cuts are on the Continue Reading
OPEC+ gives Saudi chairman power to intervene to address market developments
OPEC+ members have trusted their chairman, Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud, to intervene whenever necessary to stabilize crude markets through calling for a meeting at any time Continue Reading
OPEC+ Cuts Production Despite Resistance From Russia
OPEC+ meeting ends with small production cut decision. Russia was said to have resisted a production cut ahead of the meeting. OPEC+ decided that it could call a meeting at Continue Reading
OPEC+ cuts oil production quotas by 100,000 b/d despite tight market
Wary of a global economic slowdown, OPEC and its allies will trim their production quotas by 100,000 b/d in October, despite what appears to be a tight physical market, as Continue Reading
OPEC+ Expected To Keep October Output Quota Flat
OPEC+ is expected to keep its October crude oil production target stable from the September quota when the group meets on September 5 to review oil market conditions, a majority Continue Reading
OPEC+ JTC raises 2022 oil market surplus forecast
The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and NON-OPEC meeting, Austria December 6, 2019. REUTERS/Leonhard Foeger Aug 31 Continue Reading
OPEC Update, August 2022
The OPEC Monthly Oil Market Report (MOMR) for August 2022 was published recently. The last month reported in most of the OPEC charts that follow is July 2022 and output Continue Reading
OPEC+’s Complains About Volatility, But Here’s What They Really Want
Numerous OPEC+ ministers have bemoaned oil prices volatility in recent weeks. Standard Chartered: when OPEC+ says volatility, what they really mean is ‘falling crude prices’ StanChart sees oil’s fundamentals as Continue Reading
UAE Likely To Support OPEC Oil Production Cuts
The UAE could support OPEC+ production cuts. Some OPEC+ producers, including Iraq, Venezuela, and Kazakhstan, have also signaled support for new production restrictions. OPEC+ meets next on September 5 to Continue Reading
OPEC President Is Open to Cutting Oil Production
High oil prices have been beneficial for OPEC+, an alliance of oil-producing countries that controls more than half of the world’s output. WSJ’s Shelby Holliday explains what OPEC+ countries are Continue Reading