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OPEC and its partners agreed in December to output cuts of 1.2 million barrels a day.
Read More »OPEC Mulls Two Scenarios to Adjust Oil Production
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 »Exxon Mobil Foreign Staff Evacuation Has Nothing to Do With Threats
Exxon Mobil withdrew all of its foreign staff. which amounted to around 60 people.
Read More »Russia’s Largest Petrochemical Project Declared Unprofitable
Rosneft has abandoned its plans to invest in the Eastern Petrochemical Complex (EPC) in the Far East.
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 »Exxon Mobil Evacuates Foreign Staff Out of Iraqi Oilfield
The evacuation has not affected production at the oilfield.
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.
Read More »Putin Prepares to Withdraw Support for Maduro
PDVSA is trying to retool the upgrades to process a simpler form of heavy oil.
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