OPEC & Global Markets

Gulf monarchies are gradually joining the move towards LNG bunkering. Abu Dhabi is the latest proponent, joining Qatar and Oman.

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Saudi crude exports to China are running at record levels. But, though they may rise further next year, Russia is unlikely to be usurped as No.1 in the Middle Kingdom.

With oil prices down $25/B since the start of October, Opec's output decision in Vienna could have a dramatic impact on its members' 2019 revenue.

Falling oil prices since October augur Q4 reversal.

Iraq state crude marketer Somo says that for 2019 it is allocating 67% of exports for Asia, 20% for...

Japan crude and condensate imports from Iran fell to 48,000 b/d in October, the second lowest this year. Imports...

Saudi Arabia has been reining in refinery runs in a bid to maximize crude exports. But with Brent down $20/B since the start of October a reversal is in the works.

Short-term outlooks from Opec and the IEA forecast a substantial oil surplus through end-2019 leading Opec to ponder renewed cuts.

The short-term surplus comes as the IEA warns of a 2020s supply crunch without a massive hike in upstream investment, even if US shale beats expectations.

Gulf NOCs have put petchems at the heart of their downstream strategies. The latest IEA forecast suggests this is a prudent approach.

A month before Opec’s Vienna meet, Iran launched a stinging attack on the group’s de facto leaders. This comes as record US, Russia and Saudi output pressures prices.