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Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on effect to... -May 03, 2024 at 02:00 am EDT - MarketScreener
By Robert Harvey and Arathy Somasekhar LONDON/HOUSTON (Reuters) - Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on ...
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Talks yet to start on extending 2.2-million barrels per day of voluntary oil output cuts beyond June
OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but three sources from OPEC+ producers said they could keep their cuts if demand fails to pick up. OPEC+ has implemented a series of output cuts since late 2022 amid rising output from the United States and other non-member producers, and worries over demand as major economies grapple with high interest rates. OPEC did not respond to a request for comment.