Page 11 - Crude Oil Supply

Oil inches up as demand recovery seen tightening supply through 2021

Brent crude gained 50 cents to $72.73 a barrel by 11:10 a.m. EDT (1510 GMT)

OPEC+ agrees to boost oil output after Saudi Arabia, UAE end standoff

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic

Oil market sees improved demand, decline in surplus supply: Iraq minister

Iraqi Oil Minister Ihsan Abdul Jabbar said on Sunday that the oil market has seen an improvement in demand and a decline in surplus and stockpiles

OPEC+ meets to agree quick oil supply boost to address soaring prices

OPEC+ ministers are meeting on Sunday in another attempt to agree a quick oil supply boost to address soaring prices as the global economy recovers from the coronavirus pandemic

Oil prices drop after Saudi Arabia and UAE reach output compromise

Under the compromise with Saudi Arabia, the UAE's baseline production will rise to 3.65 million barrels per day after the current pact expires in April 2022

OPEC+ yet to make progress in resolving impasse preventing deal: Sources

OPEC+ is yet to make progress closing divisions between Saudi Arabia and United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely

Oil prices slip as slowing progress worries offset tightening supplies

Crude futures slipped as considerations over slowing international progress outweighed the prospect of tightening provide after talks amongst key producers to lift output in coming months stalled

Oil keeps climbing for fifth week on tight supply outlook, eyes on OPEC+

US West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week

Oil prices steady as demand optimism offsets worries of Iranian supply

Brent rose 13 cents, or 0.2%, to $68.78 a barrel by 0928 GMT

Indian refiners set to curb spot buying to make room for Iranian oil

The world's third largest oil consumer and importer halted imports from Tehran in 2019 after former US President Donald Trump withdrew from a 2015 accord

India strongly pitches for easing cuts in crude oil production

Ministry of Petroleum and Natural Gas is reviewing closely the global crude supplies and price situation

Iraq's SOMO awards fuel oil supply contracts to Chevron, Reliance

Iraqi state-owned marketer SOMO has finalised a term contract to supply 750,000 tonnes of straight-run fuel oil (SRFO) per month from April to September, three fuel oil trade sources said

Indian state refiners prepare to cut May Saudi oil imports: Report

Indian state refiners prepare to cut May Saudi oil imports

US becomes India's second biggest oil supplier, Saudi falls to fourth spot

Iraq continued to be the top oil seller to India despite a 23% decline in purchases to a five-month low of 867,500 bpd, the data showed

Saudi cuts April crude for some Asian refiners, maintains India supply

Saudi Arabia has pledged to continue with an extra 1 million barrels per day voluntary output cut for a third month in April

Oil price slips below $68 as rally fizzles out before US supply report

Oil fell to around $68 a barrel on Tuesday, pressured as concerns faded of a supply disruption in Saudi, which countered a pause in dollar's rally and prospects for tighter supply due to OPEC+ curbs

India asks refiners to diversify, cut reliance on Middle East oil

Most of the OPEC+ producers, led by world's top exporter Saudi Arabia, last week decided to extend most output curbs into April

Crude oil's fate could be in hands of commodity supercycle

OPEC+ will have an important say in how the oil supercycle plays out. Oil prices are now at a level that could bring at least the smaller US operators back and even start to tempt renewed longer-cycle

Oil prices rise amid tight supply as US output slowly returns after storm

Brent crude was up 51 cents, or 0.8%, at $63.42 a barrel

Asian fuel oil margin hits a year high, supply tightness to persist in 2021

The front-month VLSFO margin was at $15 per barrel above Dubai crude on Tuesday, its highest since Feb. 20 and up from $11.75 a barrel at the start of the year, according to Refinitiv data in Eikon