Crude Oil

Crude Oil , Trade , International

OPEC December Oil Output Rises for Sixth Month Led by Libya

The 13-member OPEC group pumped 25.59 million bbl/d  of oil in December, the survey found, up 280,000 bbl/d from November and a further increase from a three-decade low reached in June.

January 6, 2021

Crude Oil , Trade , International

Oil Prices Rise to 11-month High after Saudi Arabia Pledges Unilateral Output Cut

WTI futures in the U.S. climbed as much as 0.6% to $50.24/bbl, also the highest since Feb. 26, before slipping to $49.96. The contract on Jan. 5 closed up 4.6%.

January 6, 2021

Crude Oil , Trade , International

Saudi Arabia Deepens Cuts as OPEC+ Agrees Oil Output Rollover

Saudi Arabia is going beyond its promised cuts as part of the OPEC+ group of oil producers to support both its own economy and the oil market, the country’s energy minister says.

January 5, 2021

Markets , Crude Oil

OPEC+ Resumes Talks Amid Divide on February Oil Output Levels

Russia wants to increase production but others want to hold steady.

January 5, 2021

Crude Oil , Trade , International

OPEC+ Deadlock Pushes Negotiations over Raising Oil Output to Second Day

The unusual decision to push negotiations into a second day was taken after a three-hour debate in a virtual meeting of OPEC+, which groups OPEC and other producers including Russia.

January 4, 2021

Crude Oil , Trade , Infrastructure

Venezuela Oil Exports Sink to Levels Not Seen Since 1940s

Pressured by strict U.S. sanctions, Venezuela's oil exports plunged by 376,500 bbl/d in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA.

January 4, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (Jan. 4, 2021)

In its latest oil price forecast, Stratas Advisors examines fundamentals versus broader market factors.

January 4, 2021

Crude Oil , International

Reports: Iran Seizes South Korean-Flagged Tanker

Seizure of ethanol carrier comes at a time of tension over South Korea freezing Iranian funds.

January 4, 2021

Crude Oil , Trade , International

Most OPEC+ Producers Oppose February Output Increase

Most OPEC+ oil-producing countries oppose plans to increase output from February as winter lockdowns to contain the coronavirus choke demand, three OPEC+ sources told Reuters on Jan. 4.

January 4, 2021

Crude Oil , Trade , International

Russian Annual Oil Output Falls for First Time Since 2008

Russia agreed to reduce its oil production in April last year by more than 2 million bbl/d, an unprecedented voluntary cut, along with other leading oil producers and OPEC.

January 4, 2021