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

13 Nov, 2020

Featured

Opec+ May Delay Easing Cuts

A series of downgrades to global oil demand expectations this week highlights the growing pressure on the Opec+ alliance to extend output cuts.
IEA Numbers Point Towards A Huge Slowdown In Inventory Drawdowns Over 1H 2021 (mn b/d)
OPEC & Global Markets

13 Nov, 2020

Top Story

Murban Futures Contract Set For March Launch

The 29 March launch of ICE Murban futures will shake up regional crude marketing. Adnoc hopes for benchmark status. US exporters are already on board.
Exports Of Abu Dhabi's Flagship Murban Crude Grade Overwhelmingly Flow East To Asia ('000 b/d)
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NEWS IN BRIEF

Aramco Awards Brownfield LTAs

20 Nov, 2020

UAE’S Borouge-4 Feed Progresses

20 Nov, 2020

Iraq Details New Export Grades

20 Nov, 2020

Safco Buys Sabic Agrinutrients

20 Nov, 2020

Barakah Reactor At 80% Capacity

20 Nov, 2020

ACWA Power Wins Saudi Red Sea Renewables Contract

20 Nov, 2020

Oman To Leverage PDO For $3bn

13 Nov, 2020

Aramco Resumes Reliance Talks

13 Nov, 2020

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SELECTED DATA

The Us Oil Rig Count Has Risen For Each Of The Past Six Weeks, With The End-October Figure Of 221 Up Almost 50 On The Mid-August Nadir...

...But Current Numbers Remain Tiny By Any Sort Of Historical Comparison, With Only The Permian With 142 Rigs (64% Of The Us Total) Seeing Significant Activity

US Crude Imports Fell To A 28-Year Low Of 5.25mn B/D For September With Gulf And Opec Volumes At Record Lows Of 397,000 B/D And 442,000 B/D, And Saudi Just Up From August’s Record Low 267,000 B/D, Just 4.9% Of Total Imports

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