OPEC

OPEC Allows Oil Production Increase by 0.4 mmbl/d in February

During the Organization Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting (ONOMM), the members reaffirmed their decision to adjust the monthly oil production by 0.4 million barrels per day (mmbl/d) in February.

Saudi Holds on to Top Rank as China’s Crude Supplier

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

Iraq Plans to Raise Oil Production to 8 mmbbl/d by 2027

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.

Tethys Oil’s June Production Records 342,446 bbl in Oman

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, non-OPEC Ministerial Meeting Cancelled

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

OPEC+ to Increase Production in July 2021

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 to Export Full June Volumes of Crude to Asian Refiners

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

Saudi Arabia, Russia Differ in OPEC+ Meeting

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

Iraq Declines Annual Oil Supplies to Indian Refineries in 2021

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 to Restart Mothballed Oil Wells in Siberia

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+).

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