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Why the oil market is tight despite big OPEC+ output hikes
Saudi effectively accounted for all of the increase, as it boosted exports by 631,000 bpd over the March-June period while shipments from Russia, Iraq, Kazakhstan, Kuwait and Oman fell, Vortexa data showed. Saudi acknowledged that it exceeded its June quota but explained that much of this went into its storage at home and abroad.
OPEC's oil output rose further in July after an OPEC+ agreement to raise production, a Reuters survey found on Friday, ...
OPEC members move to raise production by 547,000 per day, finalizing the reversal of a 2.2 million-barrel cut. Energy Aspects ...
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Why depot prices are crashing amid OPEC production cutThe drop in global crude oil costs has led to cuts in depot prices as OPEC+ increased production output. Nigerians expect ...
Kuwait expects oil prices to stay below $72 per barrel, monitoring global market dynamics and statements from the U.S.
Texas Standard: That promise for U.S. Energy dominance is running into a flood of OPEC crude oil. Apparently, on Sunday, the ...
The OPEC Secretariat emphasized Sunday that short-term stability in energy markets is essential to ensuring a sustainable future for the global energy industry. In a post on its official account on ...
Kuwait's oil minister Tariq Al-Roumi said on Thursday that OPEC is closely monitoring global oil supply, demand trends, and U ...
Geopolitical tensions, such as U.S. pressure on countries like India to stop buying Russian oil, could lead to further ...
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