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Oil & Gas
UAE's ADNOC to Cut 5% of Dec Crude Volumes to Term-Buyers in Asia - Sources
Abu Dhabi National Oil Company (ADNOC) will cut 5% of the December crude oil supply to some term-lifters in Asia but will provide full contractual volumes in Ja
Oil & Gas
OPEC+ Meeting to Take into Account Market Conditions – Iraqi Official
The OPEC+ meeting in December will take into account the condition and balance of the market, Iraq's state news agency quoted Saadoun Mohsen, a senior official
Oil & Gas
UAE Denies It Is Engaging in Discussion With Other OPEC+ Members to Change Their Latest Agreement - Minister
United Arab Emirates' energy minister said on Monday that the Gulf state denied that it is engaging in any discussion with other OPEC+ members to change their l
Oil & Gas
Oil Prices Reverse Course After Saudi Arabia Denies Output Hike Rumors
Saudi Arabian officials are denying the news that OPEC is considering a 500,000 bpd output hike.
Oil & Gas
Iraq Targets 7-Mln-Bpd Oil Output Capacity in 2027 – Somo Head
Iraq plans to increase its oil production capacity to around 7 million barrels per day in 2027, head of state-owned oil marketer SOMO Alaa Alyasri told Reuters
Oil & Gas
OPEC Cuts Oil Demand Growth Forecast Again as Economic Challenges Mount
OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and further trimmed next year's figure, citing mounting economic
Oil & Gas
Saudi Arabia to Deliver Full Oil Volumes to Asia Despite Production Cut
Saudi Arabia’s state oil company has assured several buyers in Asia it will deliver full contracted volumes in December despite the OPEC+ decision to cut produ
Oil & Gas
Iraq Respects OPEC+ Deal, Wants to Raise Revenue per Barrel of Oil
Iraq's oil ministry respects the OPEC+ agreement to achieve global market stability.
Oil & Gas
Iraq's October Oil Output in Line With OPEC+ Quota, SOMO Data Show
Iraq produced 4.651 million barrels per day (bpd) of crude in October, down by 11,000 bpd from September.
Oil & Gas
EIA Cuts World Oil Demand Growth for 2023
The U.S. Energy Information Administration has slashed its world oil demand growth forecast for next year as President Biden lashed out at oil companies for not
Policy & Regulation
German Economist Sues OPEC, Wants $50 in Compensation
A German economist has filed a lawsuit against OPEC with a Berlin court.
Oil & Gas
UAE Believes the Oil Industry Is in “Decline Mode”
Crude oil is in “decline mode” in the long term, OPEC heavyweight the United Arab Emirates (UAE) says.
Oil & Gas
OPEC Oil Output Falls by 20,000 Bpd in October -Reuters Survey
The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in October and Septe
Oil & Gas
Oil Shortage Forecasts Clash With Grim Economic Projections
Oil markets can’t seem to choose which direction to head.
Oil & Gas
OPEC+ 'Only a Phone Call Away' if Markets Need Balancing - UAE Minister
The United Arab Emirates' energy minister said on Monday that OPEC+ was always willing to balance crude oil markets if needed, and that if consumers require its
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