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.

25 Oct, 2024

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Saudi Oil Export Drop

Saudi Arabia’s oil export revenues fell to their lowest monthly level in more than three years for August, while the IMF has again cut this year’s growth forecast.

Saudi Arabia Monthly Oil Export Revenues ($bn)

OPEC & Global Markets

15 Nov, 2024

Top Story

Oversupply In Focus As Opec+ Decision Looms

With Opec+ ministers due to meet in Vienna to shape their 2025 production policy, attention is on market fundamentals. And these appear to be moving in the wrong direction, with the IEA predicting a 1.15mn b/d 2025 supply surplus even before factoring in any Opec+ increase.

IEA Expects A Supply Surplus Of 1.15mn b/d In 2025 Even With Opec+ Cuts In Place

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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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OPEC & Global Markets

Saudi Oil Export Drop

Saudi Arabia Monthly Oil Export Revenues ($bn)

Oversupply In Focus As Opec+ Decision Looms

IEA Expects A Supply Surplus Of 1.15mn b/d In 2025 Even With Opec+ Cuts In Place

NEWS IN BRIEF

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

Get Our Headlines Weekly