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Producers are capable of filling any market gap and that relaxing supply cuts is not the right decision.
Read More »Oil Surges after OPEC Indicates It will Maintain Output Cuts
OPEC. Allies Reaffirm Commitment to A Balanced Oil Market
Average conformity has reached 120 percent since January 2019.
Read More »Oil Gains with OPEC Signaling Output Cut Extension
Tensions in the Middle East continue to risk secure supply of oil from the region to the global market.
Read More »North Sea Oil Production Struggling
Rystad expects North Sea oil production to drop to 2.28 million bpd with 462 000 bpd lost due to outages.
Read More »OPEC Mulls Two Scenarios to Adjust Oil Production
OPEC and its partners agreed in December to output cuts of 1.2 million barrels a day.
Read More »OPEC+ Job Isn’t Done as Oil Inventory Rising
The global inventories particularly in the U.S. inventories are high and are still rising.
Read More »Oil Stocks still Building. but OPEC will Act If Needed
OPEC will not decide on output until late June when the group is due to meet.
Read More »OPEC+ Should Keep Oil Cuts. Even with Supply Risks Ahead
OECD oil inventories as of March stood 22.8 million barrels above the five-year average.
Read More »Iraq has Alternative Plans for Any Stoppage of Iran Gas Imports
Iraq plans to build a refinery with a capacity of 150.000 bpd near the northern city of Mosul.
Read More »Too Early to Assess Impact of U.S. Iran Sanctions on Market
The OPEC+ alliance feels that it’s still too early to assess how the end of the U.S. waivers for Iranian buyers will impact the oil market as of this month.
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