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

10 Mar, 2023

Featured

Russian Diesel Floods Saudi

The first shipments from a flotilla of Russian diesel cargoes have begun arriving in Saudi Arabia as Riyadh helps Moscow maintain export levels while it reshapes its trade flows.
Russia Direct Oil Exports To Saudi Arabia (‘000 b/d)
OPEC & Global Markets

17 Mar, 2023

Top Story

China Refinery Runs Surge On Record Russian Imports

China’s oil demand, refinery runs and crude imports are all set for record highs this year as the economy rebounds. Near-term runs have been bolstered by a surge in Russian oil.
China's Oil Demand, Refinery Runs And Crude Imports Are All Forecast To Hit New Annual Records For 2023 (mn b/d)
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NEWS IN BRIEF

Saudi Aramco Eyes Overseas LNG

17 Mar, 2023

IEA Flags Surge In Jet Demand

17 Mar, 2023

Korea: Record Oman LNG

17 Mar, 2023

Eni Q3 Morocco Wildcat

17 Mar, 2023

China The 2023 LNG Market Wildcard As Gas Output Surges

17 Mar, 2023

Somo Tenders More Kirkuk

10 Mar, 2023

Saudi Hikes Heavy Price

10 Mar, 2023

Israel Adds More Golan Wind

10 Mar, 2023

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

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