LONDON/DUBAI Abu Dhabi National Oil Company (ADNOC) plans to boost its oil exports in August, the first signal that OPEC and its allies are preparing to ease record oil output cuts next month, three sources familiar with the development told Reuters.
LONDON/DUBAI, July 7 Abu Dhabi National Oil
Company (ADNOC) plans to boost its oil exports in August, the
first signal that OPEC and its allies are preparing to ease
record oil output cuts next month, three sources familiar with
the development told Reuters.
LONDON Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery.
LONDON OPEC and Russia will likely ease record oil production cuts from August as global oil demand recovers and prices have bounced back from their lows, four OPEC+ sources told Reuters.
LONDON OPEC oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a Reuters survey found, pushing group compliance in a supply reduction pact above 100% despite incomplete adherence by Iraq and Nigeria.
LONDON - Iraq's oil exports have fallen by almost 9% or 310,000 barrels per day (bpd) in June, loading data and industry sources showed, suggesting OPEC's second-largest producer has delivered about three-fifths of its pledge in an OPEC-led supply cut deal.
LONDON/DUBAI/MOSCOW An OPEC+ panel pressed countries such as Iraq and Kazakhstan on Thursday to comply better with oil cuts and left the door open for extending or easing record production curbs from August.
By Ahmad Ghaddar, Alex Lawler, Rania El Gamal and Olesya
LONDON The world faces an oil surplus in 2020 even as demand gradually recovers and record supply cuts by producers help rebalance the market, according to OPEC forecasts on Wednesday.
LONDON/ Iraq's oil exports have fallen by 8% or 300,000 barrels per day (bpd) so far in June, according to shipping data and industry sources, suggesting OPEC's second-largest producer is getting closer to meeting its pledge in an OPEC-led supply cut deal.