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OPEC+ set to meet ahead of Biden's Saudi trip, as production accord nears its end

The OPEC+ alliance has its production quotas in place for August, but what happens next remains a vital question for an oil market contending with sanctions on Russia and rampant inflation. Months of pressure from the US and other consuming nations on OPEC and its partners to increase their crude production could soon be coming ...
Saudi Arabia Matt Reed Joe Biden President Joe Biden Platts Dated Brent Iranian Backed Yemeni Houthi

Nigeria, Angola won't meet OPEC output quotas for at least another year: IEA | Hellenic Shipping News Worldwide

Top African oil producers Nigeria and Angola are unlikely to meet current OPEC output quotas for at least another year as persistent underinvestment and maintenance issues have crippled energy facilities, according to the International Energy Agency. Nigeria, the regionโ€™s largest producer, has seen production plunge to its lowest level in more than 30 years to ...
France General International Energy Agency International Energy Platts Dated Brent

NORWAY DATA: Crude output dips 3% in May as gas production prioritized | Hellenic Shipping News Worldwide

Norwayโ€™s crude production fell by 2.5% on the year in May and by 2.6% compared with April 2022, data published June 21 showed, as the industry heads for summer maintenance and operators prioritize gas. Crude output in May totaled 1.62 million b/d, down from 1.66 million b/d a year earlier, the Norwegian Petroleum Directorate said. ...
United Kingdom Johan Sverdrup Norwegian Petroleum Directorate Platts Dated Brent

Platts to include WTI Midland in Dated Brent, related assessments from June 2023

US WTI Midland crude oil will be incorporated into the Platts Dated Brent and related benchmark assessments from June 2023, S&P Global Commodity Insights said June 8, with the first-ever inclusion of a non-North Sea grade expected to boost the liquidity of oilโ€™s most important price benchmark. Platts, part of S&P Global, said WTI Midland ...
United Kingdom Gulf Of Mexico Oceans General North Sea Vera Blei Platts Dated Brent

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