Russia was close to complying 100 percent with its oil production quota under the OPEC+ deal in May, Russian Deputy Prime Minister Alexander Novak said on Friday. “It will be better than in April. Close to 100%,” […]
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace […]
After over a year of pandemic-driven volatility and weak oil demand, Saudi Arabia is now experiencing an oil export boom. Saudi Arabia’s oil exports increased in March by 75 percent year-on-year, at a value of […]
Energy News Beat Publishers Note (ENB): The fact that Russia relies on an estimated 35% of its GDP from exports from energy, they do not want to disrupt the revenue source. “Besides, instability in the […]
Energy News Beat Publishers Note: This meeting between Iran and the U.S. will be one to watch for several reasons. The sanctions placed on Iran have been taking their toll and disrupting cash flow for […]
Saudi Arabia‘s energy minister took a cautious view of any increase in oil production as members of the OPEC cartel met Thursday with allied non-member countries to decide production levels. Speaking ahead of the meeting, Abulaziz bin Salman […]
Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said. Crude rallied to a 14-month high last week after Saudi Arabia and […]
The Opec+ alliance will meet tomorrow at 14:00 CET to discuss whether and how to amend the group’s production quotas from next month. The quotas were reduced to 7.05mn b/d below an October 2018 baseline […]
no recommendation from the JMMC #OOTT #Opec — Amena Bakr (@Amena__Bakr) March 3, 2021 Energy News Beat Publishers Note: Update from Rystad Energy and Amena Baker from Twitter. The Iran’s oil minister Zanganeh will […]
Oil prices have reached a critical threshold where OPEC+ must decide whether to increase production, or risk losing market share again to U.S. shale producers. Front-month Brent futures prices have climbed to more than $60 per barrel, […]
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