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 Apr, 2026

Featured

Slow Hormuz Recovery

Oil prices fell sharply on news of the US-Iran ceasefire. But Hormuz remains effectively shut and supply shortages continue to worsen.
EIA Sees Huge 5mn b/d Inventory Drawdown Across Q2 (mn b/d)
OPEC & Global Markets

24 Apr, 2026

Top Story

Two Months Of Hormuz Disruptions Tightens LNG Market

The impact on Global LNG markets is deepening as the disruption to energy flows through the Strait of Hormuz approaches the two-month mark. New capacity additions this year are unlikely to offset lost Gulf volumes. An expected LNG glut is likely two years away now.
The Collapse Of Gulf LNG Exports In March Offset Us-Led Gains In Global Exports (mn tons)
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NEWS IN BRIEF

Egypt Raises Fertilizer Gas Prices

24 Apr, 2026

Transocean Awarded 5-Well East Med Drilling Contract

24 Apr, 2026

Egypt Offers Gulf Of Suez Blocks

24 Apr, 2026

Turkey Open To Iran Gas Contract Extension

24 Apr, 2026

US Sanctioned Vessels Wait In Iraqi Waters

24 Apr, 2026

Hormuz Crisis Weighs On Korea Crude Imports

24 Apr, 2026

Kurdistan’s Khor Mor Gas Field Starts Back Up

17 Apr, 2026

Oman: OQEP To Farm In At Block 27

17 Apr, 2026

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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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