OPEC & Global Markets

The Opec+ production agreement was dealt a devastating blow in March 2020 when Opec producers were unable to sign Russia up to deeper cuts. The process has shown that while Opec is unable to bring about substantial price gains, its strength lies in the ability of its core members to flood the market and undercut prices.

OPEC & Global Markets

3 Apr, 2026

Featured

Supply Shock Starts To Bite

As the last pre-conflict tankers to transit the Strait of Hormuz reach their destinations, market fundamentals are beginning to exert their inevitable pressure.
Cumulative Loss Of Oil Exports* From The Gulf Since The Start Of The Conflict Closes In On 400mn Barrels (mn bbl)
OPEC & Global Markets

10 Apr, 2026

Top Story

Oil Market Faces Prospect of Slow Recovery After Ceasefire

The sharp fall in oil prices following the announcement of a US-Iran ceasefire on 7 April appears excessive given the fragility of the deal itself, the logistical challenges of restarting regular flows through the Strait of Hormuz and the protracted nature of eventual upstream restarts. Supply shortages look set to worsen in the near term, even if the shooting stops.
EIA Sees Huge 5mn b/d Inventory Drawdown Across Q2. Prior To The War, It Expected Stocks To Build By More Than 2.5mn (mn b/d)
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NEWS IN BRIEF

Kurdistan’s Khor Mor Gas Field Starts Back Up

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Oman: OQEP To Farm In At Block 27

17 Apr, 2026

QatarEnergy-Total Make Congo Discovery

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Israel’s Karish Field Fully Operational

17 Apr, 2026

Egypt Plans To List 10 Petroleum Companies

17 Apr, 2026

Borr Drilling Restarts Middle East Offshore Rigs

17 Apr, 2026

Qatar Keeps Limited LNG Activity Ongoing With Local Sales

10 Apr, 2026

Syrian Petroleum Company Finalizes Contract With Saudi’s ADES

10 Apr, 2026

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SELECTED DATA

Global LNG Exports - Top Three Suppliers (mn tons): US Strengthens Lead For 2024, Australia Also Ships Record Volumes As Overall Trade Edges Higher

The UAE’s Monthly Quota Is Set To Break Above 3.05mn b/d From September This Year

Key 2025-26 Global Oil Demand Forecasts: Opec Remains Far More Bullish Than Others (mn b/d)

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