International

Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and industry sources said. Their hesitance raises the possibility of reviewing output targets when …

The COVID-19-induced shortage in key oil investments could spell trouble for the entire industry for years to come. Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the coronavirus pandemic is having …

Aside from economic growth during a global pandemic, China appears to be also projecting an increase in natural gas demand this winter while other major Asian powers’ gas demand is either expected to remain flat or increase only incrementally. On Thursday, the country’s three state-run oil majors said that China’s …

The Kurdistan Region Government in Iraq declared a halt to all oil exports on Friday after experiencing an attack on a crude oil pipeline earlier in the week. The pipeline suffered an attack on Wednesday, disrupting the flow of crude. The KRG-controlled area of Iraq manages oil exports through the …

OPEC oil output has risen for a fourth month in October, a Reuters survey found, as a restart of more Libyan installations and higher Iraqi exports offset full adherence by other members to an OPEC-led supply cut deal. The 13-member Organization of the Petroleum Exporting Countries has pumped 24.59 million …

While the oil market speculates on whether or not OPEC+ will ease its production cuts in January amid sluggish demand, rumors emerged on Thursday that the three biggest OPEC producers behind Saudi Arabia may not be on board with extending the current cuts into next year. Iraq, the United Arab …

From his third-floor office in eastern Baghdad, Iraqi Oil Minister Ihsan Abdul Jabbar can see the rowdy protesters below as they march toward Tahrir Square, the symbolic heart of Iraq’s latest uprising. On Sunday, thousands of Iraqis again gathered with national flags at the square, across the Tigris river from …

Brazil climbed to № 3 among China’s crude oil suppliers last month thanks to continued purchases by independent refiners, whose quotas for imported crude oil are running out, Oilprice analysed. Imports of Brazilian crude oil stood at 4.49 million tons in September, according to a Reuters report. This translates into …

Oil firms are now expected to drill just 30 exploration wells off the cost of Norway in 2020, down from 57 last year and sharply lagging original projections of around 50 wells, the Norwegian Petroleum Directorate (NPD) said on Tuesday. “The decline in demand for oil and lower prices have …

Libya’s National Oil Corporation (NOC) announced on Monday the resumption of work at all of the country’s oil fields and ports following the lifting of a force majeure event at the El Feel oil station. “The National Oil Company announces the lifting of force majeure at the El Feel oil …