Column: Saudi crude oil price hike set to collide with recession fears: Russell

Column: Saudi crude oil price hike set to collide with recession fears: Russell

Saudi Arabia Shaybah oilfield complex is seen in this aerial view deep in the Rub ‘al-Khali desert, Saudi Arabia, November 14, 2007. REUTERS / Ali Jarekji (SAUDI ARABIA) Register now for FREE unlimited access to Reuters.com Register LAUNCESTON, Australia, July 7 (Reuters) – Consider the following to show just how weird global crude oil markets … Read more

Saudis Unwilling To Upset Putin As Biden Begs For More Crude

Aramco

The world’s largest crude oil exporter, Saudi Arabia, continues to keep close ties with Russia while the top oil consumer, the United States, pleads with major producers — including the Kingdom — to boost supply to the market and help ease consumers’ pain at the pump. While the US and its Western allies are sanctioning … Read more

Supply Disruptions Drive Bullish Sentiment In Oil Markets

Bull

Bullish sentiment is once again building in oil markets as supply disruptions mount and global oil demand growth continues unabated. Friday, July 1st, 2022 As uncertainty builds around the supply capacity of OPEC + and oil demand rages on despite expectations of demand destruction, bullish sentiment is building in oil markets. Now, to add to … Read more

OPEC oil output again misses target in June as outages weigh -survey

OPEC oil output again misses target in June as outages weigh -survey

A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS / Dado Ruvic / Illustration Register now for FREE unlimited access to Reuters.com Register OPEC output falls 100,000 bpd from May Libya, Nigeria post biggest declines Compliance with OPEC + … Read more

Has OPEC + Reached Peak Production Capacity?

Production

The production pact OPEC + struck in April 2020 is set to end a month earlier than initially planned, in August 2022. The oil-producing group, however, is already facing its next dilemma — it has been facing it since the alliance’s key member, Russia , invaded Ukraine in February, sending oil prices above $ 100 … Read more

Opec + struggles to meet its supply targets amid high crude prices

OPEC

As President Biden prepares to go to Saudi Arabia in July, Opec + members say the cartel and its allies have fallen far behind on their oil-production targets and are in their weakest position in recent years to help tame high crude prices. Oil rallied for a fourth day as a … Read more