Trade
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.