Page 46 - Dated Brent News Today

The gap between OPEC+ crude oil quotas and production has widened, as the group’s steady loosening of its pandemic cuts once again outpaced actual output gains in December, according to the latest S&P Global Platts survey. OPEC’s 13 countries pumped 28.04 million b/d of crude, up 190,000 b/d from November, while nine non-OPEC partners pumped ...

Kazakhstan has been thrown into political turmoil after fuel price riots in the first week of 2022 threatened the government in the second-largest oil producer among the non-member countries allied to OPEC. Commodities investors are concerned as they have underpinned Kazakhstan’s rise as a resource power-house. Chevron and partners at the highest-producing oil field, Tengiz, ...

Supply of the five North Sea crude oil grades underpinning the dated Brent benchmark will average about 707,000 barrels per day (bpd) in February, loading programs showed, down from 813,000 bpd planned in January. Dated Brent is based on the Brent, Ekofisk, Oseberg, Forties and Troll crude streams. Details are as below. Figures are rounded ...

After 11 meetings in 2021 to manage an erratic oil market, OPEC and its Russia-led allies look to have no respite in 2022, as the coronavirus pandemic and geopolitics figure to keep ministers on their toes. By October, the OPEC+ alliance is hoping to complete its comeback from the record production cuts implemented in mid-2020, ...

Despite fears surrounding the COVID-19 variant Omicron, Saudi Arabia has decided to capitalize on strong crude demand in Asia by raising its OSPs once again

Russia and India signed Dec. 6 new energy cooperation agreements including a contract for Rosneft to ship almost 15 million barrels of crude to the world’s third-largest consumer of oil in 2022, according to government and company statements. Both countries also acknowledged the importance of dialogue between consumers and producers to ensure stable energy prices. ...

Iraq expects the price of oil to rebound and rise above $75/b in the coming months because current prices are “inappropriate” for producers, the country’s oil minister said Dec. 6, as OPEC+ sticks to its plan to boost output by 400,000 b/d in January. “I think the current oil price is an inappropriate price for ...

UK-based supermajor BP favors the addition of WTI Midland, a light sweet crude grade from the United States, to the Dated Brent benchmark

LONDON -BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have...

OPEC+ is weighing its supply options after the US-led attempt to lower prices by releasing stocks has been complicated by major a sell-off after resurgent COVID-pandemic fears. How it responds will set the tone for oil markets in 2022. Holding back planned quota increases at its next meeting on Dec. 1-2 will make the producer ...