International

OPEC+ Concerned about India’s Oil Demand

The Joint Technical Committee of OPEC+ is concerned about the growing case numbers in India, Japan, and Brazil, Reuters sources said on Monday. The Joint Technical Committee, or JTC, is responsible for assessing oil market fundaments. It is also tasked with monitoring which member countries are complying with the production …

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India’s Covid Crisis Threatens a Global Oil Recovery

India, the world’s third-largest oil consumer behind the US and China, was meant to be a major driver of oil’s demand recovery as economies reopened. But the country’s devastating health crisis has made that impossible. Everyone from oil traders to the world’s biggest producers are panicking. Indian Prime Minister Narendra …

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Iraq Aims to Finalize Exxon Oil Sale by June

Iraq aims to finalize the sale of Exxon’s stake in the West Qurna-1 oil field by the end of June even after rival U.S. supermajor Chevron Corp. rejected overtures to buy the position. Basra Oil Co., the state-run company overseeing crude production in the region, may open talks with more …

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OPEC+ Oil Cut Compliance at 113% in March

OPEC+ achieved a compliance level with its agreed oil production cuts of 113 per cent in March, unchanged from levels in February, two sources from the producer group told Reuters on Tuesday. Compliance from members of the Organization of the Petroleum Exporting Countries (OPEC) reached 124 per cent, while non-OPEC …

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OPEC+ Ministers can Shorten Meeting in Late April

Ministers of countries participating in the OPEC+ oil production limiting agreement are discussing a shorter format of talks in late April. They can abandon the ministerial meeting and leave the meeting of the Joint Ministerial Monitoring Committee (JMMC), a source in OPEC told TASS on Monday. “Such an idea is …

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