The Committee emphasized the ongoing positive contributions of the Declaration of Cooperation (DoC) in supporting a rebalancing of the global oil market in line with the historic decisions taken at the 10th (Extraordinary) OPEC and non-OPEC […]
The U.S. has gone to court to seize 2 million barrels of oil that it claims came from Iran, as Joe Biden’s administration shows little sign of taking a softer line on Tehran. The Department […]
Oil shipments from OPEC’s Persian Gulf producers slipped last month, even as output restrictions were eased and production volumes increased. Combined shipments of crude and condensate — a light form of oil extracted from gas fields — from Saudi […]
OPEC and its allies can celebrate their success in buoying world oil markets when they gather this week. But the coalition will soon be faced with some tough choices. Last month’s pledge by Saudi Arabian Energy Minister […]
Energy News Beat Publishers Note: We have been talking about OPEC, and OPEC +, in their inability to enforce production quotas from their members. Some of the key talking points have been surrounding Iran, Iraq, […]
Energy News Beat Publishers Note: This is great news if they do hit the compliance numbers. My question is how do we know that the large volumes being shipped to China in unregistered tankers is […]
Oil rose as signs of tightening supplies around the world offset concerns over the pandemic’s latest hit to demand. U.S industry data pointed to a sharp drop in the nation’s crude stockpiles last week. If confirmed by […]
Iran has started ramping up its oil production and expects to reach pre-sanctions levels in one to two months, said Deputy Oil Minister Amir Hossein Zamaninia. The oil market will be able to accommodate Iran’s […]
NEW DELHI: Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20 per cent for 2021, industry sources said, in a rare move by OPEC’s second-largest producer which is trying […]
Oil prices have risen by 10 percent since the end of 2020 and 8 percent since the OPEC+ meeting two weeks ago, but the rally has nothing to do with the short-term oil demand outlook. […]
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