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Oil & Gas Trade
Venezuela Oil Exports Climb As OPEC Agreement Kicks In
While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil expo…
Crude Oil
Oil Rises Further Above US$26 as Opec+ Begins Record Cuts
Oil rose further above US$26 a barrel on Friday as Opec and its allies embarked on record output cuts to tackle a supply glut due to the coronavirus crisis that…
Crude Oil
Oil Tanker Rates Plunge More Than 50% As OPEC+ Cuts Start
The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on Friday the co…
Oil Price
OPEC+ Oil Production Hits 13-Month High As Output Cuts Start
After the collapse of the previous OPEC+ deal in early March, OPEC opened the taps in April, pumping at its highest level in 13 months.
Oil Price
OPEC Daily Basket Price Stands at $14.36 a Barrel Wednesday
The price of OPEC basket of thirteen crudes stood at $14.36 a barrel on Wednesday, 29th April, 2020, compared with $12.41 the previous day, according to OPEC Se…
Oil Price
Australia's Woodside Sees Low Oil Prices into 2021
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year.
Crude Oil
Oil Major Chevron Could Be Forced To Cut Oil Production In Kazakhstan
Kazakhstan is in talks with the companies operating its two sizeable offshore oil projects to reduce total output by 22 percent in compliance with the latest OP…
Crude Oil
Russia Calls For Market Share Target For OPEC+
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are.
Crude Oil
Russian Oil Production Set For First Annual Drop Since 2008
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news a…
Oil & Gas Trade
China Set to Issue First-Ever Export QQuotas for VLSFO of 10 mln T for 2020
China is set to release its first-ever quotas to export very low sulphur fuel oil with total volumes of 10 million tonnes for this year.
Oil Price
OPEC Sees Oil Rising To $40 In Second Half Of 2020
In China, which was hit first by the coronavirus, and which exited the lockdown first, the return to normalization in the transportation sector “is driving up …
Crude Oil
Oil Majors May Be Forced To Cut Crude Output In Nigeria
The new OPEC+ production cut deal to remove a total of 9.7 million bpd from the market in May and June enters into force on May 1.
Crude Oil
Saudi Arabia Starts Production Cuts Ahead Of OPEC+ Deal
Oil prices plummeted again on Monday, with WTI Crude crashing by 23 percent to just $13 a barrel at 2:30 p.m. EDT.
Crude Oil
Algeria Says Proven Oil Rserves at 10 Billion Barrels
OPEC member Algeria's proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels, Energy Minister Mohamed Arkab said on Sunday.
Oil & Gas Trade
Russia Halves Western Sea Oil Exports in May after OPEC+ Deal
Russia plans to halve oil exports from its Baltic and black sea ports in May.
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