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.

Oil & Gas

19 Mar, 2021

Featured

US Trumps Saudi

The United States has extended its lead on Saudi Arabia as the world’s top oil exporter. But on a net basis Saudi Arabia remains way out in front.
World's Top Oil Exporters (mn b/d)
OPEC & Global Markets

2 Apr, 2021

Top Story

Opec+ Upends Expectations In Agreeing To Ease Production Cuts

Rather than the expected rollover, Opec+ will ease output cuts from May, tapering by July into the third and final phase of output restrictions agreed last April.
Opec Expects* Global Oil Demand Growth Will Accelerate Markedly In June And July (mn b/d)
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NEWS IN BRIEF

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Saudi Arabia’s Advanced Awards Key Petchems Projects

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More Egypt Solar Greenlighted

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US Output: February Slump But Steady Gains Now Forecast

9 Apr, 2021

Read more

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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