Commodities
It isn’t OPEC if it isn’t drama. Yet, what’s playing out now on the stage of this expanded 23-nation coalition of oil producing countries that calls itself OPEC+ is too much drama – even for […]
OPEC +
Commodities
OPEC+ seeks consensus on oil output policy after UAE roadblock
LONDON/DUBAI/MOSCOW, – OPEC+ resumes talks on raising oil output on Friday after the United Arab Emirates blocked a deal the previous day, creating a standoff that could delay plans to pump more oil through the […]
Crude Oil News
US crude exports drop in May, India top buyer
US crude exports fell by 16pc in May, with India the top buyer followed closely by China. Total domestic crude exports averaged 2.71mn b/d in May, down from 3.24mn b/d in April, according to trade […]
Commodities
OPEC+ Panel Recommends Gradual Output Hikes for Rest of Year
An OPEC+ ministerial panel recommended a gradual increase in oil output to the end of the year, paving the way for the wider group to reach a deal that would keep a firm grip on […]
Commodities
Oil Climbs with OPEC+ Signaling More Gradual Supply Hike
Oil advanced with OPEC+ producers reaching a tentative agreement to add limited supplies to the market in the coming months. Futures in New York rose as much as 3.7% on Thursday to the highest intraday […]
Commodities
Growing global production limits crude oil price increases in the most recent forecast
Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO) In the June Short-Term Energy Outlook (STEO), we forecast that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases […]
Commodities
OPEC to raise oil production in July, stays mum on what’s next
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 […]
Crude Oil News
Iran Nuclear Talks Hang in the Balance of Shifting Politics – What does this mean for oil?
Energy News Beat Publishers Note (ENB): What does this mean to the price of oil, absolutely nothing. The Iran oil machine is pushing out as much as it can sell or store abroad. The OPEC […]
Commodities
World’s largest oil trader says U.S. has left OPEC in control of global crude prices
(Bloomberg) –OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group. The decline in U.S. drilling and […]
Crude Oil News
World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market
OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group. The decline in U.S. drilling and output […]