International

The world’s top liquefied natural gas (LNG) exporter, Qatar, has long occupied a political position in the Middle East that has neither been decisively aligned with the U.S.-Israel-Saudi axis of power nor with the Iran-China-Russia one. More recently, though, there appears to have been a move further away from the …

Qatar Petroleum on March 3 loaded about 712,000 barrels of condensate destined for the Emirates National Oil Co. in the UAE, the first commercial energy trade since the end of the Gulf blockade in early January, according to data analytics firm Kpler. Qatar Petroleum shipped the condensate from Ras Laffan …

Brent crude now trades above fiscal breakeven prices for the four biggest oil producers in the Middle East after Saudi Arabia convinced fellow OPEC+ members to keep output largely unchanged. The shock move by OPEC+ triggered a rally in Brent prices, which rose to almost $70 a barrel. That’s higher …

Russia’s oil production declined last year for the 1st time since 2008 and reached its lowest level since 2011 following a global deal to cut output and low demand due to the coronavirus. According to an article by Reuters, Russian oil and gas condensate output declined to 10.27 million barrels …

A group of some of the world’s most powerful oil-producing nations will meet on Thursday to discuss the next phase of production policy amid the ongoing coronavirus crisis. OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference from 1 p.m. London time. …

There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present — with Saudi Arabia cautious and Russia keen to open the taps — all sides are ready to increase production, they said, asking …

The Organization of Petroleum Exporting Countries and its allies (OPEC+) are expected to keep production quotas unchanged in March, with a possible revision starting April, analysts told Argaam ahead of the oil producers’ meeting on March 4, 2021. “Given the current level of Brent prices around $65 per barrel (bbl), …

The decline of Angola, from being Africa’s top crude producer five years ago to barely pumping more than war-torn Libya today, shows the heavy toll of a slump in oil-industry investment. The nation’s production has fallen by more than a third since 2015, when international oil companies started slashing investment …

From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide enough of them. A crude glut that piled up during the pandemic is vanishing fast. Global inventories are plunging …

Russia’s oil output has dipped below its OPEC+ target in February amid abnormally cold weather, meaning the country failed to take full advantage of a more generous quota. The nation pumped an average of 1.377 million tons a day of crude and condensate on average from Feb. 1 to 25, …