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Kuwait Petroleum Corporation (KPC) sees continued good demand for oil from China in the second half of the year, its chief executive said on Thursday, speaking to Reuters as part of a podcast series hosted by the Al Attiyah Foundation.
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Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman praised, during a telephone discussion on Wednesday, their cooperation within the context of the OPEC+ oil producers' group, the Kremlin said on Wednesday.
Having been surprised by Saudi Arabia announcing a unilateral 1 million barrels per day cut in oil output for July, oil refiners got more bad news when Saudi Aramco informed Asian customers that prices for July-loading cargoes were going up.
Benchmark oil prices were largely unchanged after Sunday's OPEC⁺ meeting at which Saudi Arabia said it would make a voluntary unilateral cut of 1 million barrels per day for the month of July.
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A global shortfall in crude oil supply is set to deepen in the third quarter as the world's top exporter Saudi Arabia pledged extra output cuts from July in a move likely to push Brent towards $100 a barrel by the end of the year, analysts said.