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NEWS |
OPEC+ Is Still Producing Too Much Oil
OPEC further restricted its oil production in June compared to May as it aims to withhold a record volume of supply from the market together with its non-OPEC allies led by Russia, according to tanker (...)
NEWS |
Oil continues gains on prolonged OPEC+ enthusiasm - Rystad Energy comments
It’s clear, there is enthusiasm in the market that oil supply is still under control. A positive OPEC+ meeting does that and yesterday’s session helped renew confidence that members will further cut p (...)
NEWS |
Oil back to gains on road fuels and OPEC+ meeting - Rystad Energy comments
Even though the morning started on a low note, oil prices regained their ground and now swung to gains. Traders are divided between two indicators today, crude stocks building in the US – a bearish on (...)
NEWS |
Brent oil price analysis for June 2020: is oil price up too high, too soon?
Oil prices started this week on a positive note. On Monday, June 15, signs of fuel demand recovery and OPEC+ agreement to prolong production cuts till August outweighed fears of the second coronavirus (...)
NEWS |
Oil prices rise on OPEC+ extending deep production cuts -Rystad Energy comments
Oil prices continued their steady ascent this morning, though adding value of only a couple of percentage points to Friday’s close values, as the decision by OPEC was largely priced in beforehand.
NEWS |
What to expect from OPEC+ meeting today - Rystad Energy's opening comment
Following intense back-door negotiations during the past week, the market expects today’s fast-tracked OPEC+ meeting to be mostly about formalities....
NEWS |
OPEC+ meeting - Rystad Energy's live comments
In a refreshing change for OPEC’s decisiveness, it looks like we already have a draft deal. June’s cut levels to be extended to July...
NEWS |
Oil rises again on renewed OPEC+ meeting hopes - Rystad Energy comments
It’s all about the OPEC+ meeting. As it was initially intended to happen on Thursday, when that did not materialize, prices fell because traders sensed a lack of agreement between the extended group’s (...)
NEWS |
Oil rises on OPEC+ meeting rumors - Rystad Energy comments
Brent at $40 in June – who would have thought just one month ago? OPEC+ is still wrangling about for how long to extend its first tranche of monster cuts, but an agreement seems imminent.
NEWS |
OPEC+ achieves 86% May compliance rate with the output cuts of 9.7 million bpd
According to the Energy Intelligence estimates, the OPEC and its allies (OPEC+) achieved an 86% May compliance rate with the oil output cuts of 9.7 million barrels per day that it agreed for both May (...)
NEWS |
OPEC, Russia bargain over oil cuts ahead of June meeting
Saudi Arabia and some other OPEC oil producers are considering extending record high output cuts until the end of 2020 but have yet to win support from Russia, according to OPEC+ and Russian industry (...)
NEWS |
Extra Saudi, UAE and Kuwait production cuts -Rystad Energy comments
Saudi Arabia, the UAE and Kuwait just announced new cuts on top of the OPEC+ deal requirements.
NEWS |
Middle East Oil & Gas amid Coronavirus Crisis and OPEC+ Drama
In one of the most dramatic and strangest months in the history of global energy markets, the Middle East took centre stage among all regions in the world while oil and gas investors and analysts were (...)
NEWS |
Oil back to losses as demand fears return - Rystad Energy comments
The gains that oil prices enjoyed last week were not justified, despite the start of the production cuts that OPEC+ has agreed on.
NEWS |
Saudi Aramco said to start output cuts ahead of OPEC+ target
Saudi Aramco started reducing production earlier this week ahead of the May 1 deadline when new OPEC+ output targets kick in, according to a Saudi industry official familiar with the matter.
NEWS |
Cobertura! Or how Mexico became the unlikely OPEC+ deal winner, really cutting 50,000 bpd at most
The elephants in the digital room had reached a compromise. Russia had agreed, Saudi Arabia too, and with them almost all of the other oil producers of the OPEC+ alliance were ready to seal a deal tha (...)
NEWS |
Oil price largely stable on mixed signals -Rystad Energy comments
The OPEC+ deal during Easter holidays brought no resurrection to oil prices on Tuesday, as they just are trading almost 1% higher this morning.
NEWS |
Rystad Energy’s comment on G20 and OPEC+ meetings
G20 today decided to take a more active role in helping the oil market but did not make specific commitments or give a number of potential cuts....
NEWS |
Norway says still willing to cut oil output if OPEC+ plan implemented
Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group would implement its plan.
NEWS |
OPEC and G20 Meeting Outcome Increases Instability in the Oil Market
The outcome of the G20-OPEC+ oil production cut discussion is very disappointing. The agreed-upon 10+ million bpd production cut is based on semantics and not on facts able to hold in the market.
NEWS |
Comment on OPEC+ compromise with Mexico from two Rystad Energy analysts:
Comment on OPEC+ compromise with Mexico from two Rystad Energy analysts...
NEWS |
Rystad Energy’s comment on Monday’s oil prices
Oil prices were already at higher levels than they should be before the OPEC+ and the G20 meetings due to market enthusiasm and hopes for a solution to the crisis....
NEWS |
OPEC+ seems to be agreeing on a deal today to cut output by at least 10 million bpd!
If true, the preliminary production cut of 10 million bpd among OPEC+ members is a good first step, but it would still not be enough given the 20 million bpd+ supply overhang expected for 2Q20....
NEWS |
Rystad Energy’s final comment on today’s OPEC deal:
The proposed 10 million bpd cut by OPEC+ for May and June will keep the world from physically testing the limits of storage capacity and save prices from falling into a deep abyss, but it will still n (...)
NEWS |
Oil Deal On Verge Of Collapse As Russia Balks At Proposed US "Production Cut"
As oil traders look with dread and fear to tomorrow's OPEC+ teleconference one day after crude oil tumbled amid speculation that the production cut standoff will not be resolved...
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