US EditionOPEC Partly Pushes Back Against Reports of Saudi Output Surge
7 Articles
7 Articles
Saudi Data Change Allowed Riyadh To Meet OPEC Quota In June
Saudi Arabia managed to stick to its oil output quota last month because of a tweak to what the Organization of the Petroleum Exporting Countries counted as Riyadh’s production levels.OPEC published its monthly production estimates for member countries on Tuesday, with one submitted by countries directly, and another drawn from a group of so-called secondary sources. The latter figure is closely watched by traders — and other nations within OPEC…
The oil alliance OPEC+, led by Saudi Arabia and Russia, increased its crude oil supply last June to 51.56 million barrels per day (mbd), 0.8% more than the previous month, without fully complying with the agreed production increases. Overall, the 22 'petrostates' that make up the alliance produced 349,000 barrels per day (bd) additional in June, according to data published this Tuesday in the monthly report of the Organization of Petroleum Expor…
Opec says world economy may do better in second half of year
Opec said the global economy may perform better than expected in the second half of the year despite trade conflicts and that refineries’ crude intake would remain elevated to meet the uptick in summer travel, helping to support the demand outlook.
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