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

15 Oct, 2021

Featured

Record Q3 Asian LNG Buying

China, Korea and Taiwan all saw a counter-seasonal leap in LNG imports for Q3 helping boost spot prices to record levels. Power and coal shortages in China will keep the market tight.
Korean LNG Imports Rose To A Q3 Record
OPEC & Global Markets

22 Oct, 2021

Top Story

China Crude Imports: Mideast Volumes Hit Record Highs

Q3 saw China source a 7-year high 53.2% of crude from the Mideast with absolute volumes second only to Q2 2020.Saudi extended its lead as top supplier.
China Imports By Region (%): Mideast Share Of 53.7% For Q3 2021 Is Highest Since Q1 2015
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NEWS IN BRIEF

Egypt Plans 500MW Wind Farm

22 Oct, 2021

Egypt Plans Greece & Cyprus Power Links

22 Oct, 2021

Iraq’s West Qurna-1: 800,000 b/d By 2027

22 Oct, 2021

Kuwait Refinery Fire

22 Oct, 2021

Qatar Plans UK Low-Carbon Hydrogen

22 Oct, 2021

Libya Oil Revenues Continue Surge

22 Oct, 2021

Egypt: Green Hydrogen Plan

15 Oct, 2021

Lebanon: Darkness & Chaos

15 Oct, 2021

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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