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(Reuters) – Kazakhstan has been in talks with oil producers about reducing output, which has been above the country’s OPEC+ quota, Interfax news agency reported on Thursday citing the energy ministry. Kazakhstan has been pumping oil above the limit agreed by the Organization of the Petroleum Exporting Countries and its allies led by Russia for …
Kazakhstan in Talks With Oil Producers About Output Cuts, Ifx Reports Read More »
(Reuters) – OPEC oil output fell in March ahead of a scheduled output hike, a Reuters survey found, as Nigeria curbed deliveries to domestic refineries and Iranian and Venezuelan supply dropped on renewed U.S. attempts to curb the flows. The Organization of the Petroleum Exporting Countries pumped 26.63 million barrels per day last month, down …
OPEC March Oil Output Falls on Venezuela, Iran Losses Amid Sanctions Read More »
CERNOBBIO, Italy, April 4 (Reuters) – Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni’s (ENI.MI) top executive Francesco Gattei said on Friday. He added that energy groups could react to the possibility of …
Oil Majors Suffering From OPEC+ Output Hike, Not From U.S. Tariffs, Eni Exec Says Read More »
By Alex Lawler and Ahmad Ghaddar New schedule for 7 members to make compensation output cuts Plan represents monthly cuts of between 189,000 and 435,000 bpd Cuts scheduled to last until June 2026 LONDON, March 20 (Reuters) – OPEC+ on Thursday issued a new schedule for seven member nations to make further oil output cuts …
OPEC+ Issues New Plan for Oil Cuts to Compensate for Overproduction Read More »
(Reuters) – Kazakhstan’s energy minister will stand down from his role, the country’s presidential office said on Tuesday, as the government struggles to convince U.S. and European oil companies to lower production that exceeds OPEC+ targets. Almasadam Satkaliyev will become the head of the country’s newly created atomic energy agency, the presidential office said in …
Kazakhstan Removes Energy Minister Amid Tensions with OPEC+, Oil Majors Read More »
By Ahmad Ghaddar OPEC+ supply targets only cover unrefined crude Increased fuel exports means more oil reaches market than required, analyst says Economic weakness in biggest importer China has curbed demand Exporting refined products gives countries increased global reach LONDON, March 13 (Reuters) – OPEC+ has exported a record amount of refined products, blunting the …
Record OPEC+ Fuel Exports Blunt Group’s Crude Supply Cut Read More »
(Reuters) – U.S. Energy Secretary Chris Wright said on Monday that he was pleased with OPEC actions and had no specific requests of the Saudi Arabia-led oil producers group. He said he was happy OPEC was returning barrels to the marketplace and said that more energy was good for the globe. Wright, speaking to reporters …
US Energy Secretary Pleased with OPEC Actions So Far Read More »
Summary • OPEC+ has decided to hike output from April • Novak: OPEC+ may reverse the hike decision after April • Kazakhstan says it will cut oil production in next months • CPC exports to be reduced as well (Reuters) – Russia’s Deputy Prime Minister Alexander Novak said on Friday that the OPEC+ group agreed …
Russia Says OPEC+ May Reverse Oil Output After April, Kazakhstan Pledges Cuts Read More »
Is OPEC’s iron grip on the oil markets a thing of the past? Events over the last 24 hours suggest power in the oil market has shifted to Washington from Riyadh – in part because of U.S. President Donald Trump and in part because of longer-term shifts. Trump on Tuesday announced 25% tariffs on imports …
The OPEC+ group of crude oil exporters justified their decision to increase production by pointing to “the healthy market fundamentals and the positive market outlook.” They must be looking at a completely different market to the rest of us. OPEC+, which includes the Organization of the Petroleum Exporting Countries, plus Russia and other allies, said …
OPEC+’s ‘Healthy’ Crude Oil Market is an Illusion, Trump Effect Isn’t: Russell Read More »
