New data from Vortexa shows VLCC utilisation for OPEC+ – excluding Iran and Venezuela – fell sharply during June and reached a record low earlier this month, as exports from the group, especially Saudi Arabia, […]
OPEC has stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, citing resilient economic growth and strong rebound in air travel in the summer months. In its latest Monthly Oil […]
Recent data from Kpler reveals a significant decline in crude oil exports from major OPEC+ producers in June, driven largely by weak demand in Asian markets and increased domestic consumption in the Middle East. This […]
Higher production in Nigeria and Iran boosted OPEC’s oil production in June for a second month in a row, according to the monthly Reuters survey published on Tuesday. OPEC’s all 12 producers pumped 26.7 million barrels per […]
Daily Standup Top Stories Joe Biden Plans to Use Oil Reserves to Artificially Lower Gas Prices Before the November Election June 18, 2024 Mariel Alumit Joe Biden plans to deplete the U.S. oil reserves to artificially […]
Oil prices have bounced back after the last OPEC+ announcement sent them crashing, and the U.S. Federal Reserve could send them higher still with optimistic messaging. – Oil markets were eagerly anticipating the start of […]
StanChart has forecast 1.68 mb/d growth in 2024 and 1.41 mb/d in 2025. StanChart has reiterated its previous assessment that not only can the markets absorb the extra barrels by OPEC+ producers but that a […]
In a new BMI report sent to Rigzone by Fitch Group, BMI analysts examined “the good, the bad and the ugly” of OPEC+’s new policy. Looking at the “good”, BMI analysts noted in the report […]
Oil futures prices have fallen to the lowest level for four months and calendar spreads have slumped after OPEC+ ministers signalled their intention to start increasing production from the fourth quarter of 2024. Front-month Brent […]
EIA: U.S. crude output in March at highest level in 2024 U.S. inflation tracks sideways in April OPEC+ eyes deal to extend production cuts, sources say NEW YORK, May 31 (Reuters) – Oil prices fell […]
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