Crude Oil , Trade , International

OPEC+ Will Need to Boost Output to Meet Oil Demand Recovery

Meeting the restored oil demand is “unlikely to be a problem,” the IEA said, forecasting that OPEC+ will still have 6.9 million bbl/d of effective spare capacity after July.

June 11, 2021

Trade , International

US Drops Sanctions on Former Iranian Officials

The oil market briefly plunged after being spooked by media reports suggesting sanctions were lifted on Iranian oil officials, showing the potential impact of additional Iranian barrels if a deal is struck and sanctions lifted.

June 11, 2021

Crude Oil , Trade , International

OPEC Sticks to Forecast of Oil Demand Surge

In a monthly report on June 10, OPEC said oil demand would rise by 6.6% or 5.95 million bbl/d this year.

June 10, 2021

Crude Oil , Trade , International

OPEC Chief Mohammad Barkindo Provides Upbeat Oil Outlook

While OPEC’s Barkindo noted that vaccine rollouts and the “massive fiscal stimulus” aided an upbeat outlook, uneven global vaccine availability, high inflation and continued COVID-19 outbreaks remain continued risks to oil demand.

June 7, 2021

Crude Oil , Trade , International

China’s Daily Crude Oil Imports Hit Year’s Low in May

The Chinese government has been ramping up scrutiny of the oil industry by imposing taxes on key blending fuels and investigating crude imports at state energy giants and independent refiners.

June 7, 2021

Crude Oil , Trade , International

Oil Prices Hit New Multiyear Highs

Oil prices have risen for the past two weeks, and Brent is up by over 37% this year, helped by supply curbs by OPEC and allies and demand recovering in part from the pandemic-induced collapse.

June 7, 2021

Liquefied Natural Gas (LNG) , Natural Gas , Trade , Methane , International

US Gas Export Projects Pursue Emissions Cuts to Assuage Foreign Buyers

America’s LNG exporters are unveiling efforts to slash carbon emissions from new facilities as they look to keep new multibillion-dollar projects on track amid mounting climate pressures.

June 3, 2021

Crude Oil , Trade , International

Oil Prices Rally as OPEC+ Producers Agree Slow Supply Increase

Cartel and its allies stick to plan to gradually lift production as demand improves.

June 2, 2021

Crude Oil , Trade , International

Uncertain about Iranian Oil, OPEC+ Likely to Stick with Policy

OPEC+ sources said there were no talks on amending oil output-cut levels for July, while two more said the producers should stick to their existing series of gradual output increases.

May 28, 2021

Crude Oil , Trade , International , Emissions

OPEC Says IEA’s New Net-zero Stance Could Add to Oil Price Volatility

The research division at OPEC, whose 13 members sit on 80% of the world’s crude oil reserves, produced an internal briefing document on the IEA’s report, a copy of which was seen by Reuters.

May 21, 2021