OPEC & Global Markets

The Opec+ production agreement was dealt a devastating blow in March 2020 when Opec producers were unable to sign Russia up to deeper cuts. The process has shown that while Opec is unable to bring about substantial price gains, its strength lies in the ability of its core members to flood the market and undercut prices.

OPEC & Global Markets

13 Dec, 2024

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Saudi Crude Export Record

Aramco investment in strategic flexibility paid dividends in 2024. The firm is exporting record volumes from its Red Sea terminals despite a drop in its overall exports.
Saudi Crude Oil Exports From Its Yanbu Terminals On Course For Record High In 2024 (‘000 b/d)
OPEC & Global Markets

13 Dec, 2024

Top Story

Opec Walks The Supply/Demand Tightrope Into 2025

Heading into 2025, disagreements on market outlook are as rife as ever. Opec+ will be hoping that its cautious approach can ensure it safely navigates the labyrinth.
The IEA Forecasts 950,000 B/D Stockbuilds Next Year Even With Opec+ Cuts In Place (mn b/d)
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NEWS IN BRIEF

Adnoc Gas Appoints New CEO

20 Dec, 2024

Adnoc’s XRG: Covestro Stake To Top 90%

20 Dec, 2024

Iran: Record Daily Gas Demand

20 Dec, 2024

Iraq Expands Sainia Refinery

20 Dec, 2024

China’s UEG Commissions Iraq Gas Plant

20 Dec, 2024

BP Agrees Technical Terms For Redevelopment Of Iraq’s Kirkuk

20 Dec, 2024

Saudi Crude Exports Rise As Oil Burn Drops

20 Dec, 2024

Adnoc: Big Hitters For XRG Board

13 Dec, 2024

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SELECTED DATA

Gulf Rig Count* Remains Only Slightly Up On 10-Year Lows Seen In Late 2020

China Has Soared Ahead As Saudi Arabia's Key Market ('000 b/d), Though Booming Overall Chinese Imports Mean Saudi's Market Share Has Remained Steady

As A Share Of Imports (%) Saudi Is Far More Dominant In Japan Where Its Share Has Risen Even As Overall Imports Have Fallen To 40-Year Lows

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