Rystad Energy: Oil Markets in Wait-and-See Mode as Prices Drop Slightly from Multi-Year Highs
Global oil markets are in a holding pattern this morning as supply and demand signals balance each other out, waiting for further developments in US-Iran nuclear talks and Eastern European tensions before significant moves become apparent. Supplies of crude and transportation fuels are struggling to keep up with demand, and …
OPEC Daily Basket Price: Friday, 4 February 2022, Stood at $92.84 a Barrel
Vienna, Austria, 7 February 2022 – The price of OPEC basket of thirteen crudes stood at $92.84 a barrel on Friday, compared with $89.98 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Rystad Energy: Oil Prices Slip Post-OPEC+ Meeting as Volatility Persists
Global oil markets are losing a bit of ground as doubts over the ability of OPEC+ to maintain full production capacity persist and the supply outlook remains tight. The hope that OPEC+ crude oil output could bring balance to the market appears weak and traders are bracing for more volatility. …
OPEC Daily Basket Price: Wednesday, 2 February 2022, Stood at $90.18 a Barrel
Vienna, Austria, 3 February 2022 – The price of OPEC basket of thirteen crudes stood at $90.18 a barrel on Wednesday, compared with $90.46 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
25th OPEC and Non-OPEC Ministerial Meeting Concludes
Following the conclusion of the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference on Wednesday, 2 February 2022, and in view of current oil market fundamentals and the consensus on the outlook, the OPEC and participating non-OPEC oil-producing countries in the Declaration of Cooperation (DoC) decided to: Reaffirm …
Rystad Energy: Oil Prices on Waiting Mode as OPEC+ Meeting Expected to Ratify Another Planned Supply Increase
The oil market will be waiting for hints from today’s OPEC+ meeting and pricing is cautious as traders brace for the output policy decision for the upcoming month of March. As there hasn’t been much talk of any unexpected change in the mindset of OPEC+, prices aren’t moving much for …
OPEC Daily Basket Price: Monday, 31 January 2022, Stood at $90.89 a Barrel
Vienna, Austria, 1 February 2022 – The price of OPEC basket of thirteen crudes stood at $90.89 a barrel on Monday, compared with $90.14 the previous Friday, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
37th Meeting of the Joint Ministerial Monitoring Committee and the 25th OPEC and Non-OPEC Ministerial Meeting
Thank you for your interest in covering the 37th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 25th OPEC and non-OPEC Ministerial Meeting. In light of the current restrictions and challenges related to the COVID-19 pandemic, please find below some timings that we hope you find useful. 1. …
4 ‘O’s to Watch this Week: Oil price, OPEC+, Olympics, and Oil Consumption – Rystad Energy
Oil price The oil price this week will get its biggest and most impactful guidance from the 2 February OPEC+ meeting, where the group will have to signal whether it is willing or interested in dipping further into spare capacity to quell super-high oil prices that have defended their stake …
OPEC Daily Basket Price: Friday, 28 January 2022, Stood at $90.14 a Barrel
Vienna, Austria, 31 January 2022 – The price of OPEC basket of thirteen crudes stood at $90.14 a barrel on Friday, compared with $90.20 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …