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

30 Aug, 2024

Featured

Global Supply In Spotlight

With half of Libya’s output now offline, Opec+ now looks highly likely to proceed with plans to begin unwinding output cuts.

Iraq's Cumulative 2024 Overproduction* Approaches 50mn Barrels

OPEC & Global Markets

13 Sep, 2024

Top Story

China Slowdown Fuels Global Oil Demand Concerns

Another month, another downgrade to global oil demand growth forecasts based on lackluster Chinese demand.

IEA Sees 1.1mn B/D Of Stockbuilds In 2025 Even If Opec+ Cuts Are Not Unwound (mn b/d)

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NEWS IN BRIEF

Indian Oil Signs Up To Ruwais LNG

13 Sep, 2024

Indian Firms Snag Abu Dhabi Production Licence

13 Sep, 2024

Bahrain Pipeline Sell-Off

13 Sep, 2024

Jordan Advances LNG Plans

13 Sep, 2024

Algeria’s Tebboune: 5 More Years

13 Sep, 2024

Sonatrach-Turkey: Petchems Deja-Vu

13 Sep, 2024

Riyadh Metro: End-2024 Startup?

13 Sep, 2024

Egypt Hikes Electricity Prices In Bid To Unlock IMF Cash

13 Sep, 2024

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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