Net long positions in WTI and Brent jumped by most in three months in the period from July 3 to July 11. Even if the recent Saudi moves didn’t result in major price rallies in […]
The United States energy independence achieved in 2020 has been sacrificed on the altar of climate change, terminated with malice as part of an effort to “end fossil fuels”. This effort would ultimately make the entire US […]
Iranian crude exports exceeded 1.5 mb/d in May, the highest level since 2018 despite the country still being under U.S. sanctions. Last month Tehran said it has boosted crude output to above 3 million bpd, again […]
Video Duration 26 minutes 00 seconds 26:00 Oil producers are facing falling oil prices – and bets by Wall Street speculators could push prices further down. Saudi Arabia says it wants to target those traders. […]
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 […]
Saudi Arabia has said it will reduce how much oil it sends to the global economy by one million barrels per day (bpd), as the OPEC+ alliance of major oil-producing countries faces flagging oil prices […]
OPEC+ members in Vienna have agreed to extend crude production cuts into 2024. In a statement, the cartel said that it was acting ” to achieve and sustain a stable oil market,” and that it […]
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 […]
Commentary by Ben Cahill Published June 2, 2023 There is growing speculation that the Organization of the Petroleum Exporting Countries and allied producers (OPEC+) will agree on June 4 to cut production. Brent crude prices fell below $73 […]
OPEC Lambasts Anti-Oil Sentiment, Warns of Underinvestment – OPEC+ compliance with its collective targets keeps on worsening with the 19 members underperforming by 2.6 million b/d, just as the oil alliance prepares for its June […]
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