Crude Oil , Trade , International

Report: OPEC+ Agrees to Small Oil Output Hike from January

OPEC, Russia and allies, a group known as OPEC+, had previously been expected to extend existing oil cuts of 7.7 million bbl/d, or 8% of global supplies, until at least March.

December 3, 2020

Exploration & Production , Crude Oil , Trade , International

Norway Oil Output Curbs to Expire at Year-end

Following a sharp drop in crude prices in early 2020 as the coronavirus pandemic hit demand, Norway in April announced it would slash oil output for the final seven months of the year.

December 1, 2020

Crude Oil , Trade , International

Report: OPEC+ Postpones Oil Output Policy Talks Amid Disagreement

After consultations on Nov. 29 failed to reach agreement, sources said Russia suggested a possibility for OPEC+ to start increasing output by 500,000 bbl/d each month from January.

November 30, 2020

Markets , Trade , International

OPEC Reaches Consensus to Extend Oil Cuts, Algeria Says

OPEC, Russia and others, a group known as OPEC+, hold their wider talks on Dec. 1, after informal discussions of key ministers on Nov. 29 had failed to reach a consensus on oil output cuts.

November 30, 2020

Crude Oil , Trade , International

Report: OPEC+ Yet to Find Compromise on Oil Policy for 2021

OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Nov. 29 and ahead of crucial meetings on Nov. 30 and Dec. 1, four OPEC+ sources told Reuters.

November 29, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 23, 2020)

The world witnessed the long-waited announcements related to successful trial results of several vaccines, which are the preliminary requisite for quick regulatory approvals that will then translate into mass production and distribution. 

November 23, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 16, 2020)

There are three additional variables which oil markets are not used to deal with in the fourth quarter: the current infections uptick in Europe, the U.S. presidential transition and announcements about new vaccines, all of them adding bearish or bullish pressure to prices over the next few months.

November 16, 2020

Exploration & Production , Policy & Regulations , Exports , Methane , Legislation , Infrastructure , Emissions , Renewables , Shale Plays , Pipelines

Expert: Oil and Gas Has Georgia on its Mind

If two Republican senators don’t win their seats in the January runoff, Ethan Bellamy expects oil to be a loser during Joe Biden’s administration.

November 16, 2020

Crude Oil , Trade , International

Iran Says Exports Hit 700,000 Barrels Per Day of Oil, Later Denies

An Iranian official said on Nov. 11 that Tehran exported up to 700,000 bbl/d of oil since March, but was later quoted by an Iranian news agency casting doubt on the figure which had been kept secret.

November 13, 2020

Trade , International , Acquisitions & Divestitures

Australia-China Row Halts Woodside LNG Asset Sale

Woodside Petroleum had been in talks with China's national oil firms, including PetroChina, and second-tier firms to sell a modest stake in the linked Scarborough gas field and Pluto LNG Train 2 project.

November 12, 2020