OPEC+ Compliance With Production Cuts Slips To 75%
OPEC+ group’s compliance with the oil production cuts fell to 75 percent in December 2020—one of the lowest levels since the pact was enacted in May 2020, tanker tracking firm Petro-Logistics said on Tuesday.
Oil Price Fundamental Weekly Forecast, Probably Due for a Correction
Oil prices are ripe for a correction in coming weeks if speculator-driven rallies are not backed by stronger fuel demand soon.
Oil Steadies Near $50 After Surging on Surprise Saudi Output Cut
Oil steadied in Asia after surging to a 10-month high on Saudi Arabia’s pledge to cut an extra 1 million barrels a day of crude output in February and March as a rampant coronavirus leads to more lockdowns.
No Permission Needed to Return to Oil Market
Stating that the export of 2.3 million barrels is possible, Minister of Oil Bijan Zanganeh said that Iran does not need permission to return to oil markets.
Oil Prices Towards $50 On OPEC+ Agreement
OPEC+ managed to seal a compromise deal over its oil production policy early next year, presenting a united front of a unanimous decision after days of disagreements.
Gov’t Predicts Oil Sales of Up to 2.3m bpd Next year
Mohammad Baqer Nobakht says Iran is fully ready to export 4.6m bpd of crude oil in case the sanctions are lifted by the U.S. but in the budget bill, it is predicted the country to sell between 1 to 2.3m bpd next year.
OPEC+ considers delay output hike, but faces a U.S. shale industry
TEHRAN (Iran News) – Oil-producing group OPEC+, and its allies, will likely delay an output hike at its meeting this week as it weighs positive vaccine news against new coronavirus lockdowns and resurgent shale drilling in the U.S. The coalition known as OPEC+, which comprises some of the world’s largest crude producers, will begin a […]
Oil Near $41 With OPEC+ Set to Meet on Output Hike Delay
Oil fluctuated near $41 a barrel as the dollar fell and traders weighed the potential for OPEC+ to delay a planned easing of output cuts.
Oil climbs higher, hopes of OPEC+
The group, also known as OPEC+, has been cutting production by about 7.7 million barrels per day, with a compliance rate seen at 101% in October, and had planned to increase output by 2 million bpd from January.
OPEC Rebel Over Production Cut Extension
Iraq, the United Arab Emirates (UAE), and Kuwait - the biggest OPEC producers behind Saudi Arabia – are reportedly not particularly inclined to support a rollover of the cuts