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

22 Jan, 2021

Featured

IEA Slashes Demand Outlook

The IEA has cut 280,000 b/d from its forecast of 2021 global demand. Lower demand will make it more difficult for Opec+ to stick to planned output increases.
Both Opec And The IEA Have Repeatedly Cut 2021 Demand Forecasts (Mn B/D)
OPEC & Global Markets

22 Jan, 2021

Top Story

Saudi Pips Russia As China’s Top 2020 Supplier

China took 1.69mn b/d from Saudi Arabia in 2020, just 20,000 b/d more than from Russia. Iraq, the UAE, Kuwait and Oman all also saw 2020 records.
China's Top Crude Supplier (Mn B/D): Saudi Held Off Russia For 2020 No.1
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NEWS IN BRIEF

Iraq Awards New Refinery At Nasiriya

22 Jan, 2021

Aramco Tenders Jazan High Sulfur Diesel

22 Jan, 2021

Adnoc Imports Crude Oil For Ruwais

22 Jan, 2021

Dubai Announces Green Aluminium Plans

22 Jan, 2021

Iran Inaugurates Gas Plant

22 Jan, 2021

Syria Oil & Gas: No Progress

22 Jan, 2021

Energean Takes Egypt FID

22 Jan, 2021

Kuwait Export Revenues Rise

22 Jan, 2021

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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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