OPEC delegates are reportedly concerned about the growing economic pressure on Russia and its ability to pump more crude to cool soaring prices. CNBC has contacted OPEC and a spokesperson for Russia’s Energy Ministry and for comment. […]
HIGHLIGHTS Current OPEC+ supply agreement ends in September Quotas will need renegotiating, with credibility at stake Ministers to meet June 2 to set July production targets Come September, OPEC’s oil market management pact with Russia […]
The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors as producers slash investment, causing everything from crude to diesel and natural gas to […]
Capex declines to $7.6 bil from $8.2 bil in Q1 2021 Aramco to continue spending increase by middle of decade Aramco is expanding oil production capacity to 13 mil b/d by 2027 Saudi Aramco, the […]
Iraq is to receive 50mn m³/d of gas from Iran during the four summer months, a supply it will remain reliant on for 5-10 years depending on finding alternatives, Iraq’s minister of electricity Adel Karim […]
Opec has revised its oil demand forecast for this year further down, because of the impact of the war in Ukraine on the global economy, accelerating rates of inflation and Covid-19 restrictions in China — […]
All 13 members of OPEC saw their production rise by just 153,000 barrels per day. OPEC’s collective production rose to 28.648 million bpd in April. Saudi Arabia, raised its production by 127,000 bpd to 10.346 […]
Russia’s oil output is plummeting, and the ban the import of Russian oil in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per day of Russian oil […]
New Delhi: Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman gave a “positive assessment” to their cooperation on the OPEC+ producers group to stabilise the world oil market, the Kremlin said in […]
One of the fun things about having your own podcast is meeting great people around the world. Irina Slav is one of those energy industry thought leaders of those from Bulgaria. We sit down to […]
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