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Opec+ JMMC Meeting Delayed to 19 August
The Opec+ Joint Ministerial Monitoring Committee (JMMC), which studies compliance with the coalition's output restraint deal, has pushed back its next monthly m…
Breaking Down the Oil Outlook as OPEC Increases Production
Prosper Trading Academy CEO Scott Bauer to discuss the outlook for oil as looming OPEC supply surge adds to demand woes.
Aramco Aims to Boost Production Capacity to 13 Million Bpd
The world’s largest oil company is looking to raise its production capacity by an extra million barrels per day.
Asia Shrugs Off OPEC Supply Rise as Refiners Grapple with Crippled Demand
Middle Eastern sour crude supply is expected to increase this month after OPEC+ members on July 15 agreed to pare back their production cut commitment.
Azerbaijan Stuck to Opec+ Quota in July
Azerbaijan produced 553,800 b/d of crude last month, unchanged from June and fully in line with its Opec+ commitment, according to preliminary data from state-o…
Russia is Raising Crude Oil Output as OPEC+ Cuts Ease
OPEC+ producers from Aug. 1 have agreed to slim their output cuts to 7.7 million barrels per day from 9.7 million bpd.
How One Oil Major Excelled As Prices Crashed
When oil prices plunged to historic lows in April, the majority of oil producers, including OPEC+ nations, responded by drastically cutting production to get ri…
Oil & Gas Trade
Sinopec Unit Sells Gas Pipeline Asset to PipeChina
China's new oil and gas pipeline company PipeChina has made its first purchase of gas infrastructure assets.
Saudi Arabia’s Oil Exports Fall 65% in May, WTI Regains $42
Citing official data, Oil exports from Saudi Arabia, the OPEC’s top producer, fell by 44,277 million riyals (USD12 billion) or 65.0% in May 2020.
Sinopec: First Company to Obtain Hydrogen Quality Inspection Qualification for Fuel Cell Vehicles
Sinopec has become the first unit to obtain CMA qualification.
Oil Price of $40-43 per Barrel more or Less Balanced
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening …
Oil Down ith OPEC+ Signaling Production Cuts, While U.S.-China Tensions Rise
Oil was down on Thursday morning in Asia as OPEC announced the easing of production cuts after its Joint Ministerial Monitoring Committee meeting on Wednesday.…
Kazakhstan to Fulfil its Obligations Under the OPEC+ Agreement
The ministry recalled that representatives of Kazakhstan told the OPEC+ secretariat that in the first 12 days of May there was an overproduction of oil in the c…
OPEC Adjusts Oil Demand to 8.9 Million bpd for 2020
The Organization of the Petroleum Exporting Countries, yesterday, revised downward its world oil demand in 2020.
Oil Rises Slightly Ahead of OPEC+ Meeting
Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June.