Saudi Arabia plans to increase its oil output in the coming months, reversing a recent big production cut, say advisers to the Kingdom, a sign of growing confidence over an oil-price recovery. The world’s largest […]
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 […]
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, […]
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 […]
The Committee emphasized the ongoing positive contributions of the Declaration of Cooperation (DoC) in supporting a rebalancing of the global oil market in line with the historic decisions taken at the 10th (Extraordinary) OPEC and non-OPEC […]
OPEC and its allies can celebrate their success in buoying world oil markets when they gather this week. But the coalition will soon be faced with some tough choices. Last month’s pledge by Saudi Arabian Energy Minister […]
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: This is great news if they do hit the compliance numbers. My question is how do we know that the large volumes being shipped to China in unregistered tankers is […]
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 […]
The decision by OPEC+ to continue shielding the global oil market by curtailing its output, even with generous self-imposed cuts like Saudi Arabia’s 1 million barrels per day “gift”, has helped WTI crude prices exceed […]
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