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

6 May, 2022

Featured

Qatar LNG Back On Top

Qatar was again the world’s No.1 LNG exporter in April, bouncing back above the US and Australia after scheduled maintenance curbed volumes in February and March.
Qatar Takes Back Top Spot In April (mn tons)
OPEC & Global Markets

13 May, 2022

Top Story

Oil Market Volatility Rampant Amid Demand Downgrades

Oil markets are wracked by volatility amid the Ukraine conflict. Key recent industry reports focus on demand-side downgrades but supply is also highly uncertain.
IEA Q4 Demand Forecast Has Been Cut By 1mn B/D Since Before The Ukraine Conflict
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NEWS IN BRIEF

Iran Plans South Pars Phase-11 Start Up By March 2023

13 May, 2022

Algeria: Neptune Plans Touat Gas Restart

13 May, 2022

KNPC Profits Up 135%

13 May, 2022

Aramco/Petronas Refinery Boost

13 May, 2022

UAE President Khalifa Bin Zayed Passes Away

13 May, 2022

Dana Gas Kicks Off Khor Mor Drilling, Eyes Improved Egypt Terms

13 May, 2022

UAE Firm Enters Key Ruwais Project Alongside India’s Reliance

13 May, 2022

TotalEnergies Joins Egypt Green Ammonia Rush

13 May, 2022

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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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