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

26 Jun, 2026

Featured

Saudi Oil Burn Surges

Saudi oil burn hit an April record as the Hormuz crisis took its toll. Renewables and non-associated gas prevented a sharper rise.
Saudi Oil Burn Increased To Record April Figure Due To Hormuz Crisis Disruption (‘000 b/d)
OPEC & Global Markets

3 Jul, 2026

Top Story

Hormuz Oil: The Great Restart Is Underway

Despite huge geopolitical uncertainty, oil shipments through the Strait of Hormuz have increased faster than expected. The UAE, Saudi Arabia and Kuwait are using their own shipping companies to bring oil out, and Adnoc is also facilitating the shipment of barrels from Qatar and Iraq.
UAE Crude Oil Exports Exceeded 3.5mn B/D For The First Time In June ('000 b/d)
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NEWS IN BRIEF

Sabic Plans Rongsheng Petrochemicals Tie-Up

17 Jul, 2026

Cyprus, Lebanon Progress Planned Electricity Interconnection

17 Jul, 2026

Kurdistan Producers Restart Oil Fields, But Dana Shuts Khor Mor

17 Jul, 2026

OQ Subsidiaries Book Increased 1H Profits

17 Jul, 2026

Libya: OMV Declares Essar Discovery Commercially Viable

17 Jul, 2026

Adnoc Distribution Buys Shell’s South Africa Network

10 Jul, 2026

Adnoc To Reinforce Korea Inventories

10 Jul, 2026

Saudi Arabia Advances Green Hydrogen Marketing

10 Jul, 2026

Read more

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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