(Bloomberg) — OPEC+ extended its oil supply cutbacks to the middle of the year in a bid to avert a global surplus and shore up prices. The curbs — which…
https://gcaptain.com/opec-extends-oil-cuts-with-russia-bolstering-its-effort/
OPEC
Some OPEC+ Members Agree To Extend Oil Output Cuts
By Maha El Dahan and Alex Lawler DUBAI, March 3 (Reuters) – Some OPEC+ members agreed on Sunday to extend voluntary oil output cuts into the second quarter, sources said, giving extra…
https://gcaptain.com/some-opec-members-agree-to-extend-oil-output-cuts/
OPEC+ to Consider Extending Voluntary Output Cuts, Sources Say
By Olesya Astakhova, Alex Lawler and Ahmad Ghaddar LONDON/MOSCOW, Feb 27 (Reuters) – OPEC+ will consider extending voluntary oil output cuts into the second quarter, three OPEC+ sources told Reuters, to provide…
https://gcaptain.com/opec-to-consider-extending-voluntary-output-cuts-sources-say/
OPINION | Shipping oil through troubled waters
Attacks on shipping in the Red Sea have had almost no impact on the oil price, despite the volume of oil shipped through the waterway surging 80 per cent over the last two years because of the war in the Ukraine. Markets more worried about a soft global economy and rising US and Brazilian oil […]
The...
https://www.bairdmaritime.com/ship-world/tanker-world/opinion-shipping-oil-through-troubled-waters/
Angola Leaves OPEC, in Blow to Producer Group
LUANDA/LONDON, Dec 21 (Reuters) – Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further…
https://gcaptain.com/angola-leaves-opec-in-blow-to-producer-group/
India Resumes Imports Of Venezuelan Oil
By Nidhi Verma, Marianna Parraga and Florence Tan NEW DELHI/HOUSTON/SINGAPORE(Reuters) – Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance RELI.NS set to meet executives from state firm PDVSA next week to…
https://gcaptain.com/india-resumes-imports-of-venezuelan-oil/
OPEC+ Talks Continue with Prospect for Deeper Oil Cuts Unclear
By Maha El Dahan, Olesya Astakhova and Alex Lawler DUBAI/LONDON, Nov 29 (Reuters) – OPEC+ is continuing to hold talks on 2024 oil policy ahead of a Thursday ministerial meeting, as sources from the…
https://gcaptain.com/opec-talks-continue-with-prospect-for-deeper-oil-cuts-unclear/
OPINION | Russia using “shadow fleet” to keep oil revenues flowing
Western efforts to choke Russia’s oil profits are failing as production cuts agreed with Saudi Arabia push the market price towards US$100 a barrel and Russia’s biggest customers—China and India—start paying close to full market price. Russia is successfully evading the Western effort to impose a...
Mideast-Asia Tanker Rates Rebound, Capped by OPEC+ Supply Cuts
SINGAPORE, Sept 26 (Reuters) – The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output…
https://gcaptain.com/mideast-asia-tanker-rates-rebound-capped-by-opec-supply-cuts/
Surging Demand Squeezes Crude Supply – Vortexa
Global crude oil inventories dropped in August, reflecting “fundamental market tightness”, according to cargo tracker Vortexa.
Oil demand
Fresh cues of global oil demand growth in recent days are “not looking particularly bad,” Vortexa said in a report. “Stocks of crude and products, onshore and offshore, have been drawing and provide a limited cushion against future supply shortfalls,” it further added.
Meanwhile, “OPEC+ barrels continue to arrive at a normal rate for now,...
https://mfame.guru/surging-demand-squeezes-crude-supply-vortexa/