Iraq has decided to freeze its first crude oil prepayment deal, which had aimed to boost its finances because oil prices are rising, the country’s oil minister told BBC Arabic on Sunday. “We had concerns […]
Saudi Arabia urged fellow members of the OPEC+ oil alliance to remain cautious as they prepare to consider further output increases. Crude prices have rebounded to a one-year high above $60 a barrel in New […]
Energy News Beat Publishers Note: This is only one small part of Iraq, Iran, and Russia’s overproduction and involvement outside OPEC + agreements. OPEC and OPEC + cannot keep their members in line with production […]
Iraq said the OPEC+ oil cartel is unlikely to change its production policy at next month’s meeting and repeated promises to deliver overdue output cuts, even as the Arab nation’s economy reels. The group of crude […]
Energy News Beat Publishers Note: Geopolitical Futures (GPF) is a valuable international resource. We highly recommend subscribing to GPF and taking a look at George Friedman’s world insights. In this article “Biden’s First Middle East […]
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 […]
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: Bloomberg has access to great data, but we are seeing from other sources that the number will be much higher. They will not be under the OPEC+ quota, but rather […]
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 […]
It may be the oil market’s worst-kept secret: millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, […]
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