OPEC

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+ Alleviates Oil Production Cuts to 7.2 mmbbl/d

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 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 

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

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 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

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.

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