Tag: JOINT ACTION

Oil rebounds on robust economic data

Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate

Saudi wants OPEC+ to extend oil cuts into May-June

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns

Goldman expects OPEC + to keep oil production unchanged in May

Goldman Sachs expects OPEC + to keep its oil production unchanged for May, when the group meets next week, and to continue making “still the big rise of 3.4 million barrels per day that is expected. for September”

As Europe tightens lockdowns, OPEC+ to keep oil taps tight -sources

With oil prices making steady gains earlier this year, OPEC and other producers had hoped to ease output cuts, but industry sources say a fresh wave of lockdowns around the world threatens to tear up those plans

OPEC+ compliance with oil cuts rises to 113% in February

OPEC+ compliance with oil production cuts in February rose to 113%. The figure compares with a January compliance figure of 103%

Russia’s crude oil export set to drop 3% in Q2

Russia plans to decrease its oil exports in the second quarter 2021 despite an OPEC+ decision to allow the state an additional output hike from April

OPEC expects most of 2021 oil demand recovery in second half

OPEC said a recovery in oil demand will be focused on the second half of the year as the impact of the pandemic lingers as a headwind for the group and its allies in supporting the market

Oil prices rise on economic outlook, drawdown in fuel stocks

Oil prices rose on a weaker dollar as fears of rising US inflation eased while a steep fall in US fuel stocks meant a crude glut would be short-lived as refiners restart in Texas after last month’s freeze

Russia says OPEC+ will try to ensure there are no sharp oil price swings

Russian Foreign Minister Sergei Lavrov said that OPEC+ oil producers would try to ensure there are no sharp oil price swings and that the current price more or less reflected the balance between producers and consumers

OPEC+ extends most oil output cuts into April

OPEC’s leader Saudi Arabia said it would extend its voluntary oil output cut of 1 million barrels per day (bpd), and would decide in coming months when to gradually phase it out