International

Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd. In the week to November 27 alone, the volume of Saudi oil shipments to the US fell to as little as 73,000 bpd. The average daily volume …

The United Arab Emirates’ resistance at OPEC meetings to extending deep supply cuts into 2021 is the start of a more assertive policy stance that could make it harder for the group to balance global oil supply. The seeds of the emerging divergence have their roots in a major expansion …

OPEC+ was discussing a proposal to gradually ease its oil-output cuts next year, seeking to resolve divisions that emerged at the core of the cartel over several days of fractious negotiations. Talks were focused on a proposal for the cartel to add 500,000 barrels a day to the market in …

India wants to diversify its oil imports, including the resumption of supplies from Iran and Venezuela, after Joseph Biden becomes president of the United States, Oil Minister Dharmendra Pradhan said on Wednesday. “As a buyer I would like to have more buying places. I should have more destinations to go …

Iraq isn’t seeking exemption from OPEC+ production cuts because it does not want crude prices to drop, Alsabaah newspaper reported Nov. 29, citing the country’s oil minister Ihsan Ismaael. Oil ministers are set to meet Nov. 30-Dec. 1 to discuss a potential delay in plans to increase output as of …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years, the U.S. shale boom won’t be at the top of the list. The global coronavirus pandemic continues to play havoc with the world’s economic sector, and oil prices …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list. A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of …

OPEC+ will likely decide to roll over its current 7.7m bpd production cut at least until end-March 2021, Trend reports citing UK-based Capital Economics consulting company. “However, we suspect that this view is largely priced into the market. As a result, only a larger or longer production cut would give …

Russia’s energy giant Rosneft is developing a multibillion-dollar Vostok Oil project which is expected to bolster the country’s presence in the Arctic region and to boost the economy. Rosneft’s CEO Igor Sechin, who has met with President Vladimir Putin this week, has pledged that Vostok Oil will deliver up to …

China has accelerated imports of crude oil, propane and liquefied natural gas (LNG) from the United States since July, but total energy product purchases through October remain far short of targets for 2020 set out in the Phase 1 trade deal with Washington, reported Reuters. Over the first 10 months …