U.S. Energy Secretary Makes Phone Call To Saudi Arabia Ahead of OPEC+ Meet

The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC’s leaders before key meetings. U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister … More U.S. Energy Secretary Makes Phone Call To Saudi Arabia Ahead of OPEC+ Meet

Oil Falls On OPEC+ Concerns Over Slow Demand Recovery

Oil prince fell on Wednesday on concerns about the market’s recovery after OPEC and its allies lowered its 2021 demand growth forecast, although strong Chinese factory activities lent some support. Brent crude for May, which expires on Wednesday, fell 32 cents, or 0.5%, to $63.82 a barrel at 0948GMT. The more active Brent contract for … More Oil Falls On OPEC+ Concerns Over Slow Demand Recovery

Russia, Saudi Arabia At Odds Over Output Deal Ahead Of OPEC+ Meeting – RIA Cites Source

Saudi Arabia and Russia have difference over a potential deal among OPEC+ oil producers that could ease curbs on supply starting in April, a source told RIA news week. The Organization of the  Petroleum Exporting Countries and its allies, a group known as OPEC+, are likely to ease curbs on supply after April given a … More Russia, Saudi Arabia At Odds Over Output Deal Ahead Of OPEC+ Meeting – RIA Cites Source

BUSINESS | OPEC+ Panel To Hold Informal Online Talks On Saturday

A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a letter seen by Reuters showed and source with knowledge of the matter said. OPEC+ is debating whether to ease oil output cuts from Jan.1, as it previously agreed, or … More BUSINESS | OPEC+ Panel To Hold Informal Online Talks On Saturday

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