London – A key OPEC+ ministerial panel had made no policy proposal from January 2021, according to a draft OPEC+ statement seen by Reuters.
MOSCOW – OPEC and its allies fears a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a gloomier outlook than just a month ago. A panel officials from OPEC+ producers, called the Joint … Continue reading BUSINESS | OPEC+ Fears Second Virus Wave Could Lead To Oil Surplus In 2021
Saudi Arabia’s Crown Prince Mohammed Bin Salman held a phone call with Russian President Vladimir Putin on Tuesday. During the call, they reviewed world oil markets, and the efforts made to achieve and maintain stability, support the growth of the global economy, Saudi Press Agency reported. They also agreed on the importance of all oil-producing … Continue reading Saudi Arabia’s Crown Prince, Russia Putin Discuss Global Oil Markets
RIYADH | SAUDI ARABIA – Saudi Arabia’s Crown Prince Mohammed bin Salman and Iraqi Prime Minister Mustafa al-Kadhini discussed efforts taken to stabilize and rebalance global oil markets in a telephone call, Saudi state news agency SPA reported late on Wednesday. The two leaders ‘stressed the importance of compliance, by all participants, to the OPEC+ … Continue reading BREAKING NEWS | Saudi Crown Prince, Iraqi PM Discuss OPEC+ Oil Cut Pact: SPA
LONDON – An OPEC+ ministerial panel monitoring the group’s oil supply reduction deal will hold its next virtual meeting on Aug.19, a day later than previously planned, three OPEC+ sources said on Friday, without giving a reason for the date change. The panel, called the Joint Ministerial Monitoring Committee (JMMC), advises the Organization of the … Continue reading BUSINESS | OPEC+ Panel Shifts date of Next Meeting To August 19: Sources
BUCHAREST | ROMANIA – The Kremlin said on Thursday Russia currently had no plans to hold talks with Saudi Arabia ahead of joint OPEC+ ministerial monitoring committee due to be held next week.
RIYADH | SAUDI ARABIA – Saudi Crown Prince Mohammed Bin Salman, in a phone call with Nigerian president Muhammadu Buhari, reviewed the current progress made on the OPEC+ deal, state news agency (SPA) said on Monday. Salman and Buhari also reviewed aspects of cooperation to enhance stability of oil markets, SPA added.
RIYADH | SAUDI ARABIA – World’s largest oil exporter Saudi Aramco has reduced the volume of July-loading crude that it will supply to at least five buyers in Asia, seven sources said on Monday. The cuts were mainly for medium and heavy grades and were seen at refineries in countries such as China, the sources … Continue reading BUSINESS | Saudi Aramco Cuts July Crude Supplies To At Least Five Buyers In Asia: Sources
RIYADH | SAUDI ARABIA – Saudi Arabia’s energy minister said on Friday that OPEC and its allies, a group known as OPEC+, were working to hold their oil output policy meeting on Saturday. ‘The conditions right now warrant hopefully successful meetings. Coordination is under way to hold OPEC and OPEC+ meetings tomorrow afternoon’, Prince Abdulaziz … Continue reading BUSINESS | OPEC, Allies Coordinating To Hold Saturday Meeting: Saudi Arabia
RIYADH | SAUDI ARABIA – The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+, will meet on Saturday, June 6, Algeria’s Ennahar TV channel reported on Friday, citing an OPEC Sources. The sources added that the meeting will discuss extending a deal on oil output cuts.