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 Nov, 2023

Featured

Asian LNG Demand Still Weak

Indian buying is picking up and Chinese demand remains firm but this is failing to make up for continued weak buying from Japan and South Korea.
Asian* LNG Imports Are On Track For A Four-Year Low For 2023 (mn tons)
OPEC & Global Markets

17 Nov, 2023

Top Story

Demand Speculation Dominates Build Up To Opec+ Meeting

Widely divergent global demand forecasts are muddying the waters ahead of the upcoming 26 November Opec+ meeting.
2023 Global Oil Demand Forecasts (mn b/d, By Date Of Report)
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NEWS IN BRIEF

BP Signs 9-Year Oman LNG Deal

24 Nov, 2023

Iraq: WQ-2 Gas Award

24 Nov, 2023

Tecnicas Eyes Algeria Refinery Deal

24 Nov, 2023

Libya: First ‘Erawin’ Cargo

24 Nov, 2023

Shell Confirms Egypt Find

24 Nov, 2023

Jordan Shelves Israel Power For Water Deal

24 Nov, 2023

UAE Inaugurates Region’s Largest Solar Plant

17 Nov, 2023

US Fleet Arrives In Gulf

17 Nov, 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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