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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 ...
Texas Standard: That promise for U.S. Energy dominance is running into a flood of OPEC crude oil. Apparently, on Sunday, the ...
Geopolitical tensions, such as U.S. pressure on countries like India to stop buying Russian oil, could lead to further ...
Oil supply growth from non-OPEC producers is expected to plateau by early 2026 even as global demand remains strong, BP CEO Murray Auchincloss tells Bloomberg. In an interview following BP’s latest ...
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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.
OPEC has vowed to 2.2 million barrels of daily oil production, which should crash the oil market. It hasn’t happened.
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