OPEC

  • Saudi Arabia, Russia Differ in OPEC+ Meeting

    Saudi Arabia, Russia Differ in OPEC+ Meeting

    Monday, 22nd February 2021

    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 Declines Annual Oil Supplies to Indian Refineries in 2021

    Sunday, 24th January 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 to Restart Mothballed Oil Wells in Siberia

    Thursday, 24th December 2020

    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+).

  • OPEC+ Alleviates Oil Production Cuts to 7.2 mmbbl/d

    OPEC+ Alleviates Oil Production Cuts to 7.2 mmbbl/d

    Thursday, 3rd December 2020

    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.

  • Iraq Denies Asking For Exemption From OPEC+ Cuts

    Iraq Denies Asking For Exemption From OPEC+ Cuts

    Monday, 30th November 2020

    Iraq rejects stories that they are seeking an exemption from OPEC+ cuts, with Oil Minister Ihsan Abdul Jabbar maintaining that an increase in production would cause crude prices to fall.

  • OPEC+ Revises Oil Demand for 2021 

    OPEC+ Revises Oil Demand for 2021 

    Wednesday, 18th November 2020

    The Organization of Petroleum Exporting Countries and its allies (OPEC+) have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated.

  • 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.