Supply cuts

OPEC+ Approves September Oil Output Increase as Voluntary Cut Rollback Ends

OPEC+ approved an oil production quota increase of about 188,000 barrels per day from September, the producer group said on August 2, completing the unwinding o…

Crude Oil

OPEC Oil Production Falls as UAE Leads Supply Cuts

Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) declined last month, as the United Arab Emirates (UAE) intensified supply…

Market Analysis

Global Energy Crisis Drives U.S. Coal Prices to Two-Year High

The global energy crisis is rippling into U.S. coal markets, with prices hitting a two year high due to surging demand and years of supply cuts.

EU

EU Magnesium Prices Surge by 80pc on China Cuts

European magnesium prices surged by 80pc yesterday amid supply cuts in China and depleted European stocks, leaving key end-users in the aluminium and titanium s…

Oil Field

118,500 Oil & Gas Wells To Be Drilled Worldwide Through 2022

After a challenging 2020, the oil and gas demand recovery – supported by vaccination efforts and OPEC+ supply cuts – is proving good for drilling activity.

Oil Price

Oil up Nearly 5% on Possible Extension of Saudi Output Cuts

Oil prices rose nearly 5% on Thursday on a possible extension of voluntary output cuts by Saudi Arabia into April, as OPEC ministers and their allies continued …

Coal Price

South Korean Coal Market Rises on Tighter Fundamentals

Coal supply cuts in Australia and ongoing nuclear outages following two typhoons earlier this month supported South Korean coal prices for a second consecutive …

Saudi Arabia

Oil Rises on Saudi Aramco's Upbeat Demand View

Oil prices climbed on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shor…

Oil&Gas Drilling

Non OPEC+ Crude Oil Supply Cuts

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd).

Crude

Oil Falls 1% as Russia Needs Time to Mull more Opec+ Supply Cuts

Oil prices fell 1 per cent on Friday as Russia said it needed more time before committing to output cuts sought by other large producers while the coronavirus o…

Oil & Gas Trade

OPEC+ Oil Supply Cuts Won’t Prevent Surplus in 2020

Global oil markets still face a surplus next year even if OPEC and its partners deliver newly-announced production cuts in full, the International Energy Agency…

Oil Price

Crude Oil Futures up More Than 2% as OPEC Looks to Extend Supply Cuts

Crude oil futures soared by nearly 2% during mid-morning trade in Asia Monday as OPEC and its allies look to extend their supply cut agreement at a time of grow…