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

22 Jan, 2021

Featured

IEA Slashes Demand Outlook

The IEA has cut 280,000 b/d from its forecast of 2021 global demand. Lower demand will make it more difficult for Opec+ to stick to planned output increases.
Both Opec And The IEA Have Repeatedly Cut 2021 Demand Forecasts (Mn B/D)
OPEC & Global Markets

5 Feb, 2021

Top Story

Iraq Oil Export Revenues Surge With First Basrah Medium

Iraq’s federal oil export revenues hit a 12-month high in January amid higher global oil prices. Shipments included 920,000 b/d of the new Basrah Medium grade.
Iraq's Crude Export Revenues* Hit A 12-Month High $4.74bn For January
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NEWS IN BRIEF

Aramco Seeks $10bn Loan Extension

5 Mar, 2021

EOG Expedites Oman Plans

5 Mar, 2021

Egypt Solar Funding

5 Mar, 2021

Egypt: Dragon Eyes Modest Hike

5 Mar, 2021

Energean Looks To Raise $2.5bn

5 Mar, 2021

Algeria Forex Reserves Plummet To $42-43bn

5 Mar, 2021

Pakistan Signs For Qatar LNG

5 Mar, 2021

Japan: Bumper Saudi Imports

5 Mar, 2021

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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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