OPEC Production Rises By 950,000 Bpd In August
OPEC produced more oil in August than it did in July as the cartel continued to relax its production cuts, a Reuters survey has revealed, with recovering demand also stimulating Continue Reading
Saudi Oil Prince Abdulaziz bin Salman: How He Wins Against OPEC+ Crude Cheats
The Saudi royal running the kingdom’s oil policy is achieving something his predecessor never did: bringing the quota cheats of OPEC+ to heel. Prince Abdulaziz bin Salman has done this through Continue Reading
Saudi Arabia To Force OPEC+ Overproducers To Compensate For 2.3 Million Bpd
The OPEC+ group has as much as 2.31 million barrels per day (bpd) of oil production above the collective quota for May-July to offset in August and September, Reuters reported Continue Reading
Oil market improving, but full OPEC+ compliance needed: monitoring committee
The oil market is on the path to rebalancing, but with uncertainties about how quickly the world can recover from the COVID-19 pandemic, the Saudi and Russian co-chairs of a Continue Reading
Saudi Arabia keeps pressure on for OPEC+ members to comply with pledged oil cuts
Saudi Arabia redoubled its crusade for OPEC+ compliance Aug. 19, laying pressure on the alliance’s quota violators to make up for their excess crude production with deeper cuts in the Continue Reading
Russia Complies 100% With OPEC+ Production Cut Quota
Russia is complying 100% with the OPEC+ production cut quota, according to Alexander Novak, who spoke to Rossiya-24 television on Wednesday, Russian news agency Tass reported. “We are at a Continue Reading
OPEC+ meets to review compliance with oil cuts
OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic. Continue Reading
Saudis Keep Pressure on OPEC Cheats Before Ministerial Talks
Saudi Arabia kept up the pressure on OPEC+ nations that have been exceeding their oil-output targets, hours before a meeting to discuss their agreement. King Salman bin Abdulaziz called Nigerian President Continue Reading
OPEC+ Complied 95% With Oil Production Cuts In July
The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, four sources from the group told Reuters on Monday, which is a level Continue Reading
OPEC July 2020 Production Charts
The data is through July 2020 and is in thousand barrels per day. OPEC crude only was up almost one million barrels per day in July. The lions share of Continue Reading