OPEC

  • Lukoil Seeks to Inaugurate New Oilfield Projects in Iraq

    Lukoil Seeks to Inaugurate New Oilfield Projects in Iraq

    Wednesday, 21st October 2020

    Russia’s state-run oil company, Lukoil PJSC, is looking to set up new oilfield projects in Iraq despite OPEC+ production cuts and a slump in oil demand.

  • Saudi Crude Exports Rise MoM

    Saudi Crude Exports Rise MoM

    Tuesday, 20th October 2020

    Saudi Arabia’s crude exports and total products have risen over two consecutive months from its historical low in June by 1.49 million barrels per day (mmbbl/d) to 6.99 mmbbl/d in August.

  • Novak: OPEC+ Set to Relax Oil Cuts As Planned

    Novak: OPEC+ Set to Relax Oil Cuts As Planned

    Thursday, 15th October 2020

    Russian Energy Minister Alexander Novak announced on 14 October that the OPEC+ group of leading oil producers will start easing output curbs as planned despite a global spike in coronavirus cases.

  • UAE, Algeria Committed to OPEC+ Deal

    UAE, Algeria Committed to OPEC+ Deal

    Wednesday, 7th October 2020

    The United Arab Emirates (UAE) has reaffirmed its commitment to the Organization of Petroleum Countries and its allies (OPEC+) output deal despite rising domestic needs.

  • Russia Oil, Gas Production Exceeds OPEC Pact

    Russia Oil, Gas Production Exceeds OPEC Pact

    Sunday, 4th October 2020

    Russian oil and gas condensate production has edged to 9.93 mmbbl/d in September, slightly exceeding its Organization of Petroleum Exporting Countries’ (OPEC) quota.

  • OPEC’s September Output Rises for Third Consecutive Month

    OPEC’s September Output Rises for Third Consecutive Month

    Thursday, 1st October 2020

    The Organization of the Petroleum Exporting Countries (OPEC) has seen output rise for the third consecutive month after the resumption of Libyan oil production and higher Iranian export levels.

  • OPEC Further Cuts Oil Demand Forecasts for 2020/21

    OPEC Further Cuts Oil Demand Forecasts for 2020/21

    Tuesday, 15th September 2020

    The Organization of Petroleum Exporting Countries (OPEC) has further reduced its forecast for global oil demand amid the weaker-than-expected recovery in India and other Asian countries.

  • Jordan Set to Resume Oil Imports from Iraq

    Jordan Set to Resume Oil Imports from Iraq

    Tuesday, 8th September 2020

    Net oil and gas importer, Jordan, is set to resume crude imports from its Middle Eastern neighbor, Iraq, later on in September after shipments were suspended due to the pandemic.

  • Novak: 2020 Oil Demand Could Fall by 10 mmbbl/d

    Novak: 2020 Oil Demand Could Fall by 10 mmbbl/d

    Sunday, 6th September 2020

    Russia’s Energy Minister, Alexander Novak, has predicted that global oil demand could fall by 9-10 million barrels per day (mmbbl/d) this year due to the impact of the COVID-19 pandemic.

  • Iraq Asks for Exemption From OPEC+ Production Deal in 2021

    Iraq Asks for Exemption From OPEC+ Production Deal in 2021

    Wednesday, 2nd September 2020

    Iraq, the Organization of the Petroleum Exporting Countries’ fourth-largest producer of oil, is seeking a pardoning from the existing OPEC+ deal in Q1 of 2021 but insists it will adhere to cuts over the next 3 months.

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