Daily Standup Top Stories UAE Raises Capacity at Offshore Oilfield as It Aims for 5 Million Bpd by 2027 July 30, 2024 Mariel Alumit Abu Dhabi’s national oil company ADNOC has raised the production capacity at […]
Russian seaborne crude oil exports have dropped to their lowest level since August 2023, as Russia’s refinery runs are rising and Moscow is working to comply with its OPEC+ production quota, tanker-tracking data monitored by […]
The OPEC+ group of major oil-producing countries led by Russia and Saudi Arabia agreed to deepen production cuts to about 2.2 million barrels per day (bpd) at a meeting on Thursday, according to a statement […]
Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in […]
Nigeria, OPEC’s largest producer in Africa, aims to significantly increase its oil production to up to 1.7 million barrels per day (bpd) by November 2023, hoping to win a higher quota in the OPEC+ agreement, […]
Saudi Arabia’s decision to cut production on its own may not have been in its best interests. Russia’s strategy has been to persuade Saudi Arabia to increase the group’s oil prices as much as possible […]
OPEC and its allies have begun accelerating their tightening of the oil market, with the group’s crude oil output shrinking 670,000 b/d in the first month of expanded voluntary cuts in May, according to the […]
Saudis offers new voluntary cuts of 1 mln bpd for July Russian, Nigerian, Angolan targets brought in line with output UAE allowed to raise production (Reuters) – Saudi Arabia will make deep production cuts in […]
With the next OPEC+ meeting taking place this Sunday and the U.S. debt ceiling saga set to draw a conclusion around the same time, oil markets are sure to be on edge all week. Investor […]
While U.S. shale production is still growing, it is expected to grow at a slower pace due to cost inflation and mixed messages from the Biden administration. As U.S. shale production growth slows, OPEC will […]
Copyright © 2024 | Sandstone Group