Page 7 - Repi Opec News Today

OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after oil prices recovered following a drop to 15-month lows.

The U.S. could start buying back crude oil for the Strategic Petroleum Reserve late this year after President Joe Biden last year directed the largest ever sale from the stockpile, Energy Secretary Jennifer Granholm said.

Iraq's oil output and capacity may peak following growth of around 25% over the next five years, falling short of 2027 targets and ending a long-standing ambition to rival the output of Saudi Arabia.

Russia hopes that a deal to provide gas supplies to China through the planned Power of Siberia 2 pipeline can be reached before the end of the year, Deputy Prime Minister Alexander Novak was quoted as saying on Thursday.