Saudi Arabia retained a top spot in oil supplies to china for a ninth straight month in August as major producers relaxed production cuts.

Iraqi Oil Minister Ihsan Abdul-Jabbar declared that his country plans to raise its oil production to 8 million barrels per day (mmbbl/d) by the end of 2027.

Production from the Swedish oil company, Tethys Oil, before the government’s cut, has amounted to 342,446 barrels of oil (bbl) from blocks 3 and 4 onshore Oman in June.

OPEC and non-OPEC ministerial meeting to discuss oil output has been canceled affecting Brent crude benchmark.

The Organization of Petroleum Exporting Countries and its allies (OPEC+) plans to increase oil production in July 2021, however Saudi Arabia’s energy minister kept the market guessing about whether the group will add additional production later this year to keep pace with the global recovery, according to Bloomberg.

Saudi Arabia intents to supply full volumes of crude oil to at lease four Asian refineries in June.

Saudi Arabia and Russia are once again on contrary before crucial OPEC+ meeting about the oil market, according to Bloomberg.

Iraq has declined its annual crude oil supplies from Basra to many Indian refineries by 20% for 2021 as a part of its commitment to OPEC’s decisions.

Gazprom Neft will increase its oil output by restarting mothballed oil wells in West Siberia and remain within the agreed output volume set by the Organization of the Petroleum Exporting Countries and its partners (OPEC+).

The OPEC and non-OPEC countries agreed to adjust oil production by 0.5 mb/d from 7.7 mb/d to7.mb/d, during its meeting held on Thursday.