Saudi Arabia’s cautious approach to reviving OPEC+ oil output has proved helpful, said Energy Minister Prince Abdulaziz bin Salman
Output
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Permian oil output set to grow in Q2: Rystad Energy
With fracking at a 12-month high and flaring at the lowest level since 2017, Permian output is set for a boost
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Global oil demand to drop for the first time in 10 years: IEA
The IEA cut its 2020 growth forecast by 365,000 bpd down to 825,000 bpd, the lowest since 2011
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Iranian oil inventories spike by 3mn barrels in June
Islamic republic’s reserves lift substantially over the course of one month as international sanctions are set to impact Tehran’s oil trading.
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ADNOC makes statement on available current production capacity
National oil company is hoping to lift its output by an extra 200,000 bpd by the end of the year.
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Another 1mn barrels per day agreed, says Al Falih
Much anticipated meeting at OPEC HQ brings a moderate increase in daily production in a bid to cool global crude prices.
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Oil prices rise as Venezuelan woes continue and Trump seeks spike
Chronic economic meltdown in Venezuela helps fan moderate gains in oil price as OPEC weighs likely production increase.
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Global oil inventories now below five-year averages
Original target of the output cuts led by Saudi Arabia and Russia has now been met amid talk of raising production in near future.
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Trump’s Iran pull-out stokes Brent crude to hit $80 a barrel
Oil prices continue to lift in the wake of President Trump’s Iran decision and Total’s likely South Pars exit.
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WTI crude passes $70 a barrel for first time in three years
Oil prices remain bullish as imminent US decision over Iran sanctions and Venezuelan economic troubles spook market.