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Russia Oil Production Dips

Russia’s crude oil production averaged 11.16 million bpd in the first twelve days of May, Oil Price reported on Tuesday, citing two industry sources, which means that Moscow is finally within its cap under the OPEC+ deal.

read more... 15/05/2019

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Azerbaijan cuts average daily oil production within OPEC agreement

Azerbaijan has submitted the data on the daily oil production in the country for April 2019 to the joint technical commission of the OPEC monitoring committee, Trend reports referring to the country's Energy Ministry on May 11.

read more... 13/05/2019

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Daily (30.04.2019): NBP spot rose by 1.5% on Monday amid increasing demand

Oil prices slightly diverged on Monday. WTI futures added 0.3% to close at $63.50 a barrel, resuming their last week’s rally due to unclear details of President Trump’s comments on Friday about his call on OPEC to raise production. Meanwhile, Brent crude edged 0.2% down at $72.04 a barrel, as losses were limited by concerns over a tight global oil supply driven by ongoing OPEC-led production cuts coupled with U.S. sanctions on Venezuelan and Iranian oil exports.

read more... 30/04/2019

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New mega cartel is emerging in oil markets

Almaty. April 30. KazTAG - China and India—two of the world’s largest oil importers and the biggest demand growth centers globally—are close to setting up an oil buyers’ club to have a say in the pricing and sourcing of crude oil amid OPEC’s cuts and U.S. sanctions on Iran and Venezuela, Indian outlet livemint reports, citing three officials with knowledge of the talks, reports OilPrice.com.

read more... 30/04/2019

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Daily (29.04.2019): Crude oil prices plunged by almost 3% on Friday, after Donald Trump urged OPEC countries to raise output

Crude oil prices lost ground on Friday, after Donald Trump urged OPEC countries to raise output as to stop further gains in crude prices. Brent crude plunged by 3% to $72.15 a barrel, while WTI futures traded 2.9% lower at $63.30 a barrel.

read more... 29/04/2019

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