#Oil Production

Iraq to oppose new OPEC+ oil production cuts

Iraq won’t agree to new OPEC+ oil production cuts, oil minister says

Iraq has repeatedly said it is committed to voluntary cuts but pumped over its output quota by a cumulative 602,000 bpd

OPEC projection for 2024 energy demand - oil

Morgan Stanley expects oil prices to climb to $90 per barrel by summer 2024

Morgan Stanley expects oil demand to grow at 1.5 million bpd this year which is slightly above the historical trend growth

Saudi Aramco - oil minister

Saudi Arabia to focus on energy transition, Aramco to maintain capacity: Prince Abdulaziz

Aramco chief executive Amin Nasser said he expected oil demand to increase to 104 million bpd this year and to 105 million bpd in 2025

oil

How much spare oil production capacity do energy producers have?

The level of spare capacity – or the perception of how much is available – can influence world oil prices.

oil

Saudi to continue voluntary cut of one million oil barrels a day in December

Based on the voluntary cut, the kingdom’s production in December will be approximately nine million barrels per day

kuwait

Kuwait seeks to boost oil production, pushes on with Durra gas field

Oil Minister Saad Al Barrak said the state firm aimed for net zero carbon emissions by 2050

oil price

Saudi Arabia, Russia extend oil cuts until December, crude jumps to highest level in 2023

Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia

Red Sea shipping

Saudi crude oil exports plummet as OPEC giant slashes production

Since July, the kingdom has pledged to implement a unilateral production cut of one million barrels a day on top of existing curbs

Saudi Aramco reports Q2 2023 earnings

Aramco reports a drop in profits of 38% in Q2 2023

The world’s largest oil company reported that it had paid out a base dividend for Q1 2023 of $19.5bn in the second quarter, which was up 4 per cent year-on-year

Saudi Arabia economic outlook

Saudi Arabia’s oil production cuts to slowdown growth, says IMF outlook

The impact of a slowdown in Saudi Arabia will be felt across the Middle East and Central Asia

Mubadala Petroleum

Mubadala Petroleum’s output reaches a record 500,000 barrels of oil equivalent a day

According to Mubadala Petroleum, this achievement marked a 22 per cent increase in production from 2021

Mubadala Energy

Dwindling OPEC+ spare capacity sets oil up for sizzling summer

Last month, the 10 OPEC nations in the accord managed only 60 per cent of their stipulated 250,000 barrel-a-day increase