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.
OPEC | Egypt Oil & Gas - Part 9
UAE, Algeria Committed to OPEC+ Deal
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
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
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
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
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
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, 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 mon ...
Norway Cuts Production by 120,000 bbl/d in July
Norway’s government has released the official production figures for the Norwegian Continental Shelf in July, showing a 120,000 barrels of oil per day (bbl/d) reduction compared to the reference production.
OPEC+ Compliance Reaches 95% in July
Compliance with the Organization of the Petroleum Exporting Countries and allies’ (OPEC+) oil cuts has been assessed to be at a range of 95%-97% in July as demand shows signs of recovery.
