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Tag: OPEC

UAE Clarifies Stance On OPEC Membership

Anonymous UAE officials claimed earlier in the week that the country was considering breaking away from OPEC, citing the difficulties it is facing due to…

India Wants OPEC To Fix Asian Oil Pricing Anomaly

India wants OPEC to review its pricing policies for the Asian market and end the premium it puts on its crude for Asia, Indian Oil…

Drop In Saudi Oil Exports Keeps OPEC+ Shipments Flat In October

A 386,000-barrel-per-day (bpd) cut in Saudi Arabia’s crude oil shipments kept total seaborne exports of the OPEC+ group stable in October compared to September, although…

OPEC+ Production Cuts Could Be Extended: Putin

Russia does not rule out the possibility that OPEC+ could extend its current 7.7 million barrels per day of production cuts into next year, according…

OPEC Meeting Ends Without Firm Decision On Output Cuts

OPEC said on Monday that it would not shirk its responsibilities to the market as fears about the next Covid-19 wave push down prices Oil…

Faltering oil demand puts new pressure on OPEC+ production agreements

It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global…

Russia Sees Oil Above $50 in 2021

Russia sees oil prices averaging $50 to $55 a barrel in 2021 as the development of Covid-19 vaccines spurs an economic recovery, said Energy Minster…

Saudi Arabia’s Crude Oil Exports Dip To Record Low In June

The world’s top oil exporter, Saudi Arabia, saw its crude oil exports in June drop to their lowest on record at just below 5 million…

Iraq Commits to Deep Oil Cuts as OPEC+ Ramps Up Pressure

Iraq made its strongest commitment yet to implement deep cuts in crude production after the country’s oil minister and his Saudi counterpart held a phone…

OPEC + to Increase Oil Production from August 1

OPEC countries + on July 15 concluded that oil demand is recovering and that it is possible to follow the intended course – to increase oil production…

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