OPEC
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The UAE will prioritize national interests and production flexibility, setting up implications for OPEC’s market power, oil, prices, and global supply dynamics. -
Under the agreement, Trafigura will pay Gabon $1 billion for future crude export deliveries over 7 years.
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International majors showing new interest in Iraq as China scoops blocks in Baghdad’s most recent bid rounds.
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Angola leaves OPEC after 16 years to leverage its oil resources for economic growth.
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The International Energy Agency recently said the oil and gas industry is spending far too little on clean energy technologies.
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In making a historically small production quota hike, OPEC+ members outline some big concerns about the group's ability to keep up with demand.
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If OPEC's expectations for demand hold true, the 13-member exporting group will need to add more than 3 million B/D to the market by the end of next year.
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The alliance ratified another modest daily production increase of 400,000 barrels.
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Oil production in the US is resurging and poised to refute some skeptics who believed domestic output peaked just prior to the COVID-19 pandemic.
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Next month, the 23-nation group of crude exporters will raise its allowable production output by another 400,000 B/D.
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