Production Cuts

  • 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.

  • Alberta Set to Increase Production Ahead of Schedule

    Alberta Set to Increase Production Ahead of Schedule

    Sunday, 25th October 2020

    Canada’s most prolific oil-producing province, Alberta, is set to increase its crude production in December ahead of schedule as coronavirus-related shutdowns ease congestion.

  • 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.

  • OPEC’s September Output Rises for Third Consecutive Month

    OPEC’s September Output Rises for Third Consecutive Month

    Thursday, 1st October 2020

    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 Monitoring Libyan Output Closely

    OPEC Monitoring Libyan Output Closely

    Tuesday, 22nd September 2020

    The Organization for Petroleum Exporting Countries and its allies (OPEC+) are closely watching attempts to resume oil output in Libya and are assessing the situation.

  • Iraq Asks KRG to Cut Production by 120,000 bbl/d

    Iraq Asks KRG to Cut Production by 120,000 bbl/d

    Thursday, 10th September 2020

    Iraq’s federal government has requested that the Kurdistan Regional Government (KRG) cut its oil production by 120,000 barrels per day (bbl/d).

  • OPEC+ Set to Loosen Record Cuts in August

    OPEC+ Set to Loosen Record Cuts in August

    Thursday, 16th July 2020

    The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are set to ease the record 9.7-million barrels per day (mmbbl/d) production cuts as of August as demand has seen a continual rise, Saudi Arabia’s Energy Minister, Prince Abdulaziz Bin Salman, said at an OPEC+ meeting.

  • Iraq’s Oil Exports Fall 9%, Still Exceeding OPEC Quota 

    Iraq’s Oil Exports Fall 9%, Still Exceeding OPEC Quota 

    Tuesday, 30th June 2020

    Iraq’s oil exports fell by circa 9% or 310,000 barrels per day (bbl/dd) in June, meaning that Iraq has fulfilled about three-fifths of its pledge to the OPEC+ production deal