A mammoth set of Opec+ talks ended late 7 December with a deal to cut output by 1.2mn b/d. Opec will shoulder 800,000 b/d and Saudi alone 400,000 b/d. But efforts to laud a triumph of consensus and cooperation do little to hide the fact that the lack of details so far makes it open to cheating.
A month before Opec’s Vienna meet, Iran launched a stinging attack on the group’s de facto leaders. This comes as record US, Russia and Saudi output pressures prices.
Iran’s oil exports fell over 1mn b/d from 2017 levels even prior to this week’s re-imposition of US sanctions. Few governments appear willing to risk Trump’s ire.
Japanese refiner Idemitsu has completed a protracted takeover of local rival Showa Shell, in which Saudi Aramco is the...
LNG demand is up 14.5% from 2017's record levels for the top five global buyers, propelling prices to four-year highs. MEES crunches the numbers.
Iranian vessels are turning off transponders in an effort to hide oil shipments ahead of the 4 November sanctions deadline. MEES investigates.
Qatar Petroleum is adding a fourth train to its major LNG expansion plans that will push it further clear of the chasing pack. Development drilling is expected imminently, with international partners brought onboard in early 2019.
The Opec+ monitoring committee is set to meet in Algiers in just over a week. A volatile supply/demand outlook makes price stability a challenge.
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