OPEC+ Gradual Output Hikes To Help Stabilise Markets, Says Iraqi Oil Minister

Milan / Italy – – Iraqi’s oil minister said on Wednesday that the OPEC+ policy of gradual crude output hikes will help stabilize global oil markets, the oil ministry said in a statement. Iraq supports the group known as OPEC+ that help oil markets stability, the oil minister, Ihsan Abdul Jabbar, said, adding that the … More OPEC+ Gradual Output Hikes To Help Stabilise Markets, Says Iraqi Oil Minister

Saudi Arabia’s June Oil Exports Rise 123% To Over $16 Bln

Paris/France – The value of Saudi Arabia’s oil exports in June increase 123% to 61.5 billion riyals ($16.4 billion) from a year earlier while non – oil exports rose by around 41%, official data showed on Tuesday. Overall exports increased by nearly 92% in June compared to a year earlier when international trade was curbed … More Saudi Arabia’s June Oil Exports Rise 123% To Over $16 Bln

OPEC+ Sees No Need To Meet U.S. Call For More Supply

London/UK OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters. The price of international benchmark Brent crude has risen 35% this year towards $70, driven … More OPEC+ Sees No Need To Meet U.S. Call For More Supply

Oil Prices Fall As Coronavirus, Floods Threaten Demand

Oil prices fell on Monday as concerns about fuel demand from the spread of COVID-19 variants and floods in China offset expectations of thight supplies though the rest of the year. Brent crude future for September fell 44 cents, or 0.6% to $73.66 a barrel by 0432GMT while U.S. Texas Intermediate crude was at $71.62 … More Oil Prices Fall As Coronavirus, Floods Threaten Demand