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

18 Nov, 2022

Featured

Markets Brace For Russia Ban

Less than three weeks before a European embargo on Russian crude, the likely impact remains highly uncertain with a ‘price cap’ system still not in place.
Divergent Outlooks On Russian Oil Production
OPEC & Global Markets

25 Nov, 2022

Top Story

China Oil Trade Surges, Can It Absorb More Russian Volumes?

China continues to import near-record volumes of Russian crude. But, with the G7’s ‘price cap’ sanctions set to enter effect, can it take yet more?
China’s Top Crude Supplier (mn b/d): Saudi Retains Slight Lead Despite Russia’s 9% Year-On-Year Gains
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NEWS IN BRIEF

Iraq Oil Boost As Cnooc Hikes Missan Capacity

25 Nov, 2022

Total’s Pouyanné Meets New Iraqi PM

25 Nov, 2022

BP Plans Four Egypt Offshore Wells

25 Nov, 2022

Kuwait’s Al Zour: First Exports

25 Nov, 2022

Houthis Attack Tanker At Yemen’s Ash Shihr Terminal

25 Nov, 2022

Brazil: Record Crude Output

25 Nov, 2022

Algeria: More Touat Problems

18 Nov, 2022

Algeria-Slovenia Gas Deal

18 Nov, 2022

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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