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

27 Feb, 2026

Featured

Middle East Crude Futures Markets Gain Global Traction

ICE Dubai has started 2026 with record activity, reflecting increased Middle East exports, Iran tensions and India’s search for Russian barrel replacements.
Middle East Crude & Condensate Exports Increased To A Seven-Year High Last Quarter (mn b/d)
OPEC & Global Markets

6 Mar, 2026

Top Story

Iran Conflict Rattles Global Oil Markets

The closure of the Strait of Hormuz has left around 19mn b/d of oil flows stranded behind the chokepoint. The unprecedented development has robbed Opec+ of its market management levers, with at least one member already shutting in major fields. Meanwhile the IEA is monitoring, but not yet urging action.
Oman's Unprecedented Premium To Dubai ($/B) After The Hormuz Closure
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NEWS IN BRIEF

Aramco Announces Share Buyback Plan

13 Mar, 2026

Progress At Key Saudi Gas Power Plant Projects

13 Mar, 2026

BP Confirms Egypt Offshore Awards

13 Mar, 2026

TotalEnergies Highlights Middle East Production Shut-Ins

13 Mar, 2026

Egypt Announces Sirius Offshore Drilling Success

13 Mar, 2026

Decision Time For Opec+

27 Feb, 2026

EOG Expects First Results From UAE, Bahrain Wells In Q2

27 Feb, 2026

BGC Boosts Gas Capture At Iraq Fields

27 Feb, 2026

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SELECTED DATA

Global LNG Exports - Top Three Suppliers (mn tons): US Strengthens Lead For 2024, Australia Also Ships Record Volumes As Overall Trade Edges Higher

The UAE’s Monthly Quota Is Set To Break Above 3.05mn b/d From September This Year

Key 2025-26 Global Oil Demand Forecasts: Opec Remains Far More Bullish Than Others (mn b/d)

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