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OPEC
Video: UAE and Saudi Arabia’s spat over OPEC oil production
Saudi-led plan to extend a deal capping oil production triggers a dispute between two OPEC heavyweights.
Oil Exploration
Turkish Company Applies to Explore for Oil in East Med - Official Gazette
Turkey's state-owned energy company TPAO has applied for a licence to explore for crude oil in the eastern Mediterranean.
Oil Field
Lukoil to Operate Offshore Area 4 Project in Gulf of Mexico
PJSC LUKOIL announced the entry into an agreement to acquire the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator’…
Crude Oil
Oil Prices Climb as U.S. Reports Rapidly Declining Crude Stockpiles
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season.
United States
US Oil Prices Soar To 6-Year High In OPEC Standoff
The U.S. benchmark oil price WTI Crude hit its highest level since November 2014 early on Tuesday, after OPEC+ on Monday called off its third attempt to reach a…
Crude Oil
Oil and Dollars: Why the UAE is Risking a Falling-out with OPEC+
The UAE agreed with the other 22 OPEC+ members that monthly output cuts should be eased by 400,000 barrels a day from August, but said the extension should be t…
Crude Oil
OPEC+ Fails To Hike Oil Production, Delays Decision Again
OPEC+ much-awaited resumption of talks today has now been delayed, indicating that Saudi Arabia and the UAE have not been able to broker any agreement after the…
Crude Oil
Opec+ Resumes Output Talks Amid UAE Standoff
Opec+ ministers are due to resume talks at 15:00 Vienna time today to try to defuse what is fast becoming the group's most serious crisis since it embarked on i…
Crude Oil
OPEC Discussing Deal to Raise Oil Production by 2 million b/d by December: Sources
OPEC and its allies appear in striking distance of a deal on production quotas, discussing proposals that call for an output increase of about 2 million b/d fro…
Crude Oil
Aussie Onshore Explorer Starts Significant Onshore Oil Hunt
JV between Buru and Origin start the first of two large oil prospects in Canning basin
Oil Field
Equinor Brings Pioneering Martin Linge Oil and Gas Field Online
On June 30th, Equinor’s Martin Linge oil and gas field in the North Sea came on stream. The field is powered from shore, resulting in low CO2 emissions, and op…
Crude Oil
S.Korea’s June Crude Oil Imports up 5.9% y/y – Preliminary Data
South Korea’s June crude oil imports rose 5.9% to 79.0 million barrels from a year earlier, preliminary data from the Ministry of Trade
Crude Oil
Iraq's Crude Oil Exports Exceed 86 mln Barrels in June
Iraq's Ministry of Oil said on Thursday that the country exported 86.76 million barrels of crude oil in June, bringing in revenues of about 6.14 billion U.S. do…
Crude Oil
PetroVietnam & Kuwait Petroleum International Sign Agreement
Kuwait Petroleum International and PetroVietnam signed a cooperation agreement that aims at re-focusing their refining and petrochemicals strategies.
Crude Oil
Goldman Sachs: Oil Markets To See Deficit Of 5 Million Bpd By End 2021
The oil market will end 2021 in a deficit of 5 million bpd as demand grows by another 2.2 million bpd in the second half of the year
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