OPEC

Source: Reuters

Russia’s Novak says premature to talk about OPEC+ plans beyond 2020

Reuters


MOSCOW – Russia’s energy minister said on Tuesday it was too early to discuss the future of global oil production curbs beyond December, less than a week after saying plans to reduce the output restrictions should proceed.

OPEC and …

October 20, 2020 - 12:07 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Iraqenergy.org

Iraq to revive national oil company by 1Q22

argus

London, 20 October (Argus) — Iraq’s reconstituted national oil company Inoc will be operational by early 2022, more than 30 years after it was broken up under Saddam Hussein’s regime, according to oil minister Ihsan Ismael.

“By the third …

October 20, 2020 - 9:33 am Crude Oil News, International, OPEC
Source: Reuters

Saudi crude exports rise to 5.97 million bpd in August: JODI

Reuters


Saudi Arabia’s crude oil exports rose for a second consecutive month to 5.97 million barrels per day (bpd) in August, from 5.73 million bpd in July, official data showed on Monday.

The country’s crude output rose by 500,000 bpd …

October 19, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Kremlin says new OPEC+ oil talks to tackle weak demand outlook

Reuters


LONDON/MOSCOW/DUBAI – The world’s two largest oil exporters, Russia and Saudi Arabia, are in talks on how to support volatile oil markets, the Kremlin said on Monday as rising coronavirus infections worldwide curb fuel demand.

An OPEC+ ministerial monitoring …

Oil steady on new lockdowns, vaccine hopes

Oil steady on new lockdowns, vaccine hopes

Reuters


LONDON – Oil steadied on Monday, pressured by concerns over surging coronavirus cases globally and by Libya’s plan to boost output, however, prices found some support by hopes of a U.S. fiscal package and expectations of a vaccine by …

October 19, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Libyan oil output reaches 500,000 barrels per day following industry restart

Libyan oil output reaches 500,000 barrels per day following industry restart

Energy Mix

Libya’s daily oil production has risen to around 500,000 barrels, according to people familiar with the situation, as the war-battered nation restarts its energy industry after a truce.

Sharara, the country’s biggest oil field, is pumping roughly 110,000 …

October 18, 2020 - 2:57 pm Crude Oil News, International, OPEC, Popular 2
Source: Reuters

Exclusive: OPEC+ fears second virus wave could lead to oil surplus in 2021

Reuters


MOSCOW – OPEC and its allies fear a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a …

Source: Reuters

OPEC+ will ensure oil prices do not plunge again, says OPEC chief

Reuters


LONDON – 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 Thursday, adding that demand has been recovering more slowly …

Source: Reuters

OPEC+ to stick with plans to ease output cuts, says Russia’s Novak

Reuters


MOSCOW – 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 global spike in coronavirus cases.

“Despite the start of the second wave …

Saudi Arabia, Russia talk Opec+ ahead of JTC: Will compliance be the elephant in the room?

Saudi Arabia, Russia talk Opec+ ahead of JTC: Will compliance be the elephant in the room?

argus

Oil & Gas 360 Publishers Note: Compliance will be the elephant in the room. How they handle it will effect world pricing. 

London, 14 October (Argus) — The two de facto leading members of Opec+ have made a public …

October 14, 2020 - 6:19 am Crude Oil News, International, OPEC
Source: Reuters

OPEC cuts 2021 oil demand forecast again as virus cases rise

Reuters


LONDON – World oil demand will rebound more slowly in 2021 than previously thought as coronavirus cases rise, OPEC said on Tuesday, adding to headwinds faced by the group and its allies in balancing the market.

Demand will rise …

Source: Reuters

OPEC cuts long-term forecast for oil demand growth, sees ‘continued disparity’ in climate policy

CNBC


LONDON — OPEC on Thursday said it had downwardly revised its forecast for global oil demand growth over the long term, given the industry faced “an existential threat” this year in the wake of the coronavirus pandemic and as

Source: CNBC

Oil prices likely to continue to struggle in the fourth quarter as demand lags

CNBC


Oil prices are expected to rise just slightly in the final quarter of the year, held back from further gains by a deep chill in global travel and a still healing economy.

Analysts forecast the prices of Brent and 

October 2, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

OPEC September oil output rises for third month on Libya restart, Iran

Reuters


LONDON  – OPEC oil output has risen for a third month in September, a Reuters survey found, as a restart of some Libyan installations and higher Iranian exports offset strong adherence by other members to an OPEC-led supply cut …

Libyan oil output hits 300,000 barrels per day as fields, ports reopen

Libyan oil output hits 300,000 barrels per day as fields, ports reopen

Bloomberg


Oil & Gas 360 Publishers Note: We have been covering this story with the involvement of Turkey. This has also spilled over to the Mediterranean offshore disputes in territorial waters over drilling. Turkey and Libya have claimed an extensive

OPEC Unlikely To Increase Output As Planned Starting January

OPEC Unlikely To Increase Output As Planned Starting January

Image source: Elise Aldram / Pixabay By Dmitry Zhdannikov, Julia Payne LONDON (…

September 29, 2020 - 3:54 pm Crude Oil News, Energy News, International, OPEC, Press Releases
Nigeria, others’ oil production cuts to rebalance markets – EIA

Nigeria, others’ oil production cuts to rebalance markets – EIA

Energy Mix


The production cuts by the Organization of the Petroleum Exporting Countries and its allies are expected to result in a relatively balanced market next year, the United States Energy Information Administration said on Wednesday.

The EIA noted that …

September 28, 2020 - 5:09 am Crude Oil News, OPEC
OPEC’s World Oil Outlook to be launched on 8 October 2020

OPEC’s World Oil Outlook to be launched on 8 October 2020

360 Feed Wire


The 2020 OPEC World Oil Outlook (WOO) will be launched via videoconference in Vienna, Austria, on Thursday, 8 October 2020 at 14:00 (CEST).

OPEC’s Secretary General, HE Mohammad Sanusi Barkindo, will present the major findings of the …

Source: Reuters

Oil edges up to $42, eyeing Libya and U.S. inventories

Reuters


LONDON – Oil edged up to around $42 a barrel on Wednesday, supported by rising investor risk appetite and a report that U.S. fuel inventories fell, although rising crude supply and concern of stalling demand capped gains.

European equities …

September 23, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

OPEC watching Libyan oil restart closely, needs time to assess: sources

Energyworld


Oil & Gas 360 Publishers Note: As OPEC is having difficulty keeping all of it’s members within agreed production levels, the new developments are a catalyst to review the OPEC’s memberships and partnerships. Should be interesting to follow as

Source: CNBC

Oil prices slip on potential Libyan output return, demand concerns

CNBC


Oil prices fell on Monday, weakened by the possible return of Libyan production and as rising coronavirus cases stoked worries about global demand, although the market drew support as a tropical storm threatened to disrupt output in the U.S. …

Prince Abdulaziz bin Salman

Saudi energy minister presses OPEC+ members on fulfilling oil cuts pledge

Energy Mix Report


Saudi energy minister Prince Abdulaziz bin Salman delivered yet another warning to OPEC+ compliance laggards, saying at a Sept. 17 monitoring committee meeting that failing to execute pledged production cuts was undermining the alliance’s efforts to rebalance …

September 20, 2020 - 9:33 am Crude Oil News, International, OPEC
Source: Reuters

Oil prices mixed as OPEC boost countered by Libyan developments

Reuters


LONDON – Oil prices were mixed on Friday after Libyan commander Khalifa Haftar said a blockade on Libyan oil exports would be lifted for one month, countering more bullish signals from an OPEC meeting on Thursday.

 

Brent crude …

Source: CNBC

OPEC and non-OPEC allies to review oil production cuts after dire demand warnings

CNBC


LONDON — A group of some of the world’s most powerful oil-producing nations on Thursday will meet to review production policy, amid a faltering recovery from the pandemic-driven rout and a bleak outlook for energy demand.

OPEC and non-OPEC …

September 17, 2020 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
OPEC and non-OPEC allies to review oil production cuts after dire demand warnings – BP adds that oil demand will peaked in 2019

OPEC and non-OPEC allies to review oil production cuts after dire demand warnings – BP adds that oil demand will peaked in 2019

CNBC


  • OPEC and non-OPEC allies, sometimes referred to as OPEC+, will convene for an online meeting to review the market and discuss compliance with deep production cuts.
  • Analysts do not anticipate OPEC+ to announce further output cuts on Thursday, though
September 17, 2020 - 8:07 am Commodity Pricing, Crude Oil News, International, OPEC
Source: Reuters

As OPEC+ meets this week, UAE emerges as main laggard

Reuters


LONDON/DUBAI – The United Arab Emirates has emerged as a major laggard in delivering oil output cuts in August, figures used by OPEC+ showed on Wednesday, as the group meets this week amid signs of a faltering demand recovery.…

Source: Reuters

Oil rises but bleaker demand outlook weighs

Reuters


LONDON – Oil prices rose on Tuesday, supported by hurricane supply disruptions in the United States, but forecasts of a slower than expected recovery in global demand from the pandemic weighed.

Brent crude LCOc1 was up 41 cents, or …

September 15, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil steady as demand concerns rise, Libya output looms

Reuters


LONDON – Oil prices slipped slightly on Monday amid concerns about a stalled global economic recovery and with Libya poised to resume production, but were supported by an impending storm which has disrupted U.S. oil output.

Brent crude LCOc1

Source: CNBC

OPEC cuts 2020 oil demand forecast, trims 2021 outlook on pandemic fallout

CNBC


LONDON — OPEC has cut its forecast for oil demand growth this year, citing a weaker-than-expected recovery in India and other Asian countries, and warned risks remain “elevated and skewed to the downside” for the first half of next

Source: Reuters

Faltering oil demand puts new pressure on OPEC+ production agreements

Bloomberg


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 oil markets.

Instead, the Organization of Petroleum Exporting Countries and its allies will convene …

September 13, 2020 - 7:01 am Crude Oil News, International, OPEC