BUSINESS | OPEC+ Fears Second Virus Wave Could Lead To Oil Surplus In 2021

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, Russia Putin Discuss Global Oil Markets

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

BREAKING NEWS | Saudi Crown Prince, Iraqi PM Discuss OPEC+ Oil Cut Pact: SPA

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

BUSINESS | OPEC+ Panel Shifts date of Next Meeting To August 19: Sources

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

NEWS ALERT | Saudi Crown Prince, Nigerian President Discuss OPEC+ Deal Compliance

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.

BUSINESS | Saudi Aramco Cuts July Crude Supplies To At Least Five Buyers In Asia: Sources

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

BUSINESS | OPEC, Allies Coordinating To Hold Saturday Meeting: Saudi Arabia

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

BUSINESS | OPEC+ To Meet On Saturday To Discuss Extending Oil Output Cuts: Ennahar TV

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.