Oil prices spiked on Monday after OPEC+ announced they would cut production by about 1.16 million barrels per day — a surprise move, which could trigger global inflation. Brent crude, the global benchmark, jumped 4.8% to $83.73 a barrel, while WTI, the US benchmark, rose 4.9% to $79.36. On Sunday, Saudi Arabia announced that it […]
output cuts
Posted inDRILLING & PRODUCTION
KSA energy minister hopes OPEC will agree to extend output cuts by early July
On the sidelines of a G20 meeting of energy and environment ministers in Japan, Khalid Al-Falih said OPEC would likely meet in early July
Posted inDRILLING & PRODUCTION
OPEC close to extending production cuts: KSA energy minister
Khalid Al-Falih commented on the potential rollover of OPEC+ production cuts at an economic forum in St. Petersburg, Russia
Posted inDRILLING & PRODUCTION
OPEC JMMC meeting in Jeddah: What you need to know
A breakdown of the key takeaways from the OPEC joint ministerial monitoring committee meeting in Jeddah this week