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

4 Oct, 2024

Featured

Opec+: Focus On Compliance

Other Opec+ countries are upping the pressure on Iraq and Kazakhstan to increase compliance ahead of a key decision on whether to begin unwinding cuts.
Iraq Has Been Consistently Overproducing By Around 200,000 b/d (mn b/d)
OPEC & Global Markets

11 Oct, 2024

Top Story

Opec September Output Down Amid Libya Outages, Iraq Cuts

Opec output saw its largest monthly fall since July 2023 for September amid Libya’s outages and improved compliance from Iraq. The group’s production dropped 460,000 b/d to 26.10mn b/d, its lowest level since August 2021, but is set to rebound this month as Libya emerges from its latest political showdown.
Iraqi Crude Output Falls To 17-Month Low Of 4.16mn B/D For September (mn b/d)
Choose Countries
Load more

NEWS IN BRIEF

Iraqi Oil Minister Returns To Post

11 Oct, 2024

Iraq Jet Fuel Exports

11 Oct, 2024

Saudi Arabia, Egypt Target June 2025 Power Link Startup

11 Oct, 2024

Glencore Jebel Ali Receives Kuwaiti Gasoline

11 Oct, 2024

Total Secures LNG Bunker Vessel With Eye On Oman

11 Oct, 2024

Taiwan 9M24 Crude Imports ('000 b/d): US Closes In On Top Supplier Saudi Arabia

11 Oct, 2024

Abu Dhabi Adds 1.5GW Zarraf To Solar Pipeline

4 Oct, 2024

Masdar Clean Powergen Up 50% In 2023

4 Oct, 2024

Read more

SELECTED DATA

Gulf Rig Count* Remains Only Slightly Up On 10-Year Lows Seen In Late 2020

China Has Soared Ahead As Saudi Arabia's Key Market ('000 b/d), Though Booming Overall Chinese Imports Mean Saudi's Market Share Has Remained Steady

As A Share Of Imports (%) Saudi Is Far More Dominant In Japan Where Its Share Has Risen Even As Overall Imports Have Fallen To 40-Year Lows

Get Our Headlines Weekly

Keep abreast with current events with our weekly headlines.
You’ll also be notified of our free articles & maps.

By signing up, you agree to receive promotional emails. You can unsubscribe at any time. For more information, read our privacy statement.