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EIA: OPEC+ Crude Oil Production Increased in August
Both OPEC and non-OPEC partner countries increased their crude oil production in August.
OPEC at 60: ‘Road to Stability Long and Bumpy’
Algerian energy minister and current Opec president Abdelmadjid Attar was interviewed by Argus' Ruxandra Iordache on the producer group's achievements to date a…
OPEC Cuts Oil Demand Forecast For 2020, Again
OPEC revised down by another 400,000 bpd its forecast for global oil demand this year, expecting consumption to shrink by 9.5 million bpd over 2019.
Oil Edges Higher Ahead of Opec+ Meeting with Demand in Focus
Oil edged higher toward US$38 a barrel in New York ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-…
Saudi Economic Outlook Sours After Oil Price Crash
Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingd…
COVID-19 Forces Libyan Oil Companies To Halt Operations
Two of Libya’s National Oil Company affiliates on Monday sent some oil workers home and halted some work due to the spread of Covid-19, according to a NOC stat…
Russia’s Novak Says 2020 Oil Demand Could Fall by Up to 10 Million bpd
Global oil demand could fall by 9-10 million barrels per day this year due to impact of the COVID-19 pandemic, Russian Energy Minister Alexander Novak said on F…
China's National Oil Companies Outline Early Green Energy Plans
China's top state oil and gas producers - PetroChina, Sinopec Corp and CNOOC Ltd are working on the following green initiatives.
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…
Oil & Gas Trade
Iraq Cuts Oil Exports in August, Pumps Below OPEC+ Target
Iraq's crude oil exports have fallen so far in August, according to shipping data and industry sources
OPEC+ Stresses Need for All Members to Comply with Output Cuts
The outcome of the meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) on Wednesday was as predicted.
Global Oil Demand is Expected to Return to 97% of Pre-Epidemic Levels by the End of the Year
At the OPEC and OPEC+ ministerial video conference that global oil demand is expected to return to the new crown by the end of 2020 97% of the level before the …
Opec+ Needs Cumulative 2.3mn b/d of Compensation Cuts
Opec+ members that exceeded their crude production ceilings in May-July went over their quotas by a cumulative 2.3mn b/d and will need to compensate for this ex…
Oil & Gas Trade
OPEC+ Seeks to Defend Oil-Market Gains as Demand Outlook Darkens
OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.
Russia Doesn’t Expect OPEC+ To Change Course
The OPEC+ panels will not be discussing next week any revisions of the ongoing production cut pact and are not expected to make any major decisions to tweak the…