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Why the oil market is tight despite big OPEC+ output hikes
Saudi effectively accounted for all of the increase, as it boosted exports by 631,000 bpd over the March-June period while shipments from Russia, Iraq, Kazakhstan, Kuwait and Oman fell, Vortexa data showed. Saudi acknowledged that it exceeded its June quota but explained that much of this went into its storage at home and abroad.
Kuwait expects oil prices to stay below $72 per barrel, monitoring global market dynamics and statements from the U.S.
OPEC members move to raise production by 547,000 per day, finalizing the reversal of a 2.2 million-barrel cut. Energy Aspects ...
OPEC+ members have agreed to a second consecutive production increase this year, effectively ending voluntary cuts on ...
Geopolitical tensions, such as U.S. pressure on countries like India to stop buying Russian oil, could lead to further ...
A group of countries that are part of the oil cartel OPEC+ have agreed to boost oil production, which some believe could ...
Texas Standard: That promise for U.S. Energy dominance is running into a flood of OPEC crude oil. Apparently, on Sunday, the ...
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Why depot prices are crashing amid OPEC production cutThe drop in global crude oil costs has led to cuts in depot prices as OPEC+ increased production output. Nigerians expect ...
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Fill up for Less? OPEC’s Oil Shift Could Open a Summer WindowLearn why this moment matters for your gas spending and how smart planning can turn it into longer-term savings.
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