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Crude Oil
Russian Oil Companies Plan Significant Drilling Cuts For 2021
Russian oil producers who have already reduced their drilling activity by a third this year may cut it further by 20 percent.
Oil Price
OPEC+ Will Ensure Oil Prices do not Plunge Again, Says OPEC Chief
The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC's Secretary General said on Thurs…
Oil & Gas Trade
OPEC+ to Stick with Plans to Ease Output Cuts, Says Russia's Novak
Russian Energy Minister Alexander Novak on Wednesday said that the OPEC+ group of leading oil producers will start easing output curbs as planned despite a glob…
Iran
Iran Names New Opec National Representative
Iran's oil minister Bijan Namdar Zanganeh has appointed Afshin Javan as the country's new national representative to Opec, replacing Mohammad Taeb, who had been…
Crude Oil
OPEC: Oil Demand to Decline after Plateauing in Late 2030s
World oil demand will plateau in the late 2030s and by then begin to decline.
Crude Oil
Opec Sees Oil Demand Peak Around 2040
World crude demand will make a strong post-Covid-19 recovery in 2021-2023 but will peak somewhere around 2040, Opec said in its World Oil Outlook.
Crude Oil
Russian Oil Production Tops OPEC+ Quota In September
Russia produced an average of 9.93 million bpd of crude oil and condensates last month, a little above its OPEC+ quota but still down 11.8 percent on the year, …
Oil & Gas Trade
Iraq Boosts Oil Exports Despite OPEC+ Pledges
Despite promises to keep in line with the OPEC+ pact, Iraq – OPEC’s second-largest producer and biggest laggard in implementing the cuts – slightly raised it…
Oil & Gas Trade
Iraqi Oil Ministry Denies Deal to Up Oil Exports
Iraq's oil ministry on Thursday denied a media report citing Oil Minister Ihsan Abdul Jabbar as saying an agreement was imminent with the OPEC+ group to increas…
Crude Oil
Gazprom Neft Sees Full Oil Demand Recovery By The End Of 2021
Russia’s oil producer Gazprom Neft believes that global oil demand will return to its pre-pandemic levels in the second half of 2021.
Crude Oil
EIA Sees Global Oil Market Balancing By End-2021
The OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of…
Crude Oil
Libya Eyes 260,000 b/d as Opec+ Keeps Watch: Update
Libya's state-owned NOC said it expects the country's oil production to reach 260,000 b/d next week as onshore fields that have been shut in for several months …
Oil Price
Global Effort Begins Again to Stabilise Oil Prices, OPEC+ Meet May be Called in Oct
A bigger global effort to stabilise oil prices involving all major oil producers including Russia is again on the cards to see that the current crisis does not …
Oil Price
International Oil Prices Rose Significantly on the 17th
It closed at 43.3 US dollars per barrel, an increase of 2.56%.
Market Analysis
Russian Energy Minister: Global Oil Demand is Expected to Fully Recover in the Second Quarter of 2021
Russian Energy Minister Alexander Novak participated in the OPEC+ JMMC online meeting and said that global oil demand is expected to fully recover by the second…
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