Markets

OPEC+ opted for a cautious approach at their recent meeting, extending existing production cuts of 3.6MM b/d until the end of 2025.

The OPEC+ alliance is anticipated to prolong its existing production cuts of 2.2 MM b/d into the latter half of 2024.

What drives oil consumption in short and medium terms?

Nigeria's Dangote refinery is making strategic moves to secure a consistent crude oil supply and expand its exports of low-sulfur straight-run fuel oil (LSSR) to Europe.

The oil market grapples with contrasting views: pessimism alongside analysts maintaining optimism regarding oil prices.

US supermajors forge ahead in key oil basins amidst global energy shifts.

As global political landscapes continue to evolve, the US has reinforced sanctions on Iran and Venezuela, targeting their critical oil sectors.

Recent attacks and counterattacks between Israel and Iran have raised critical questions about the future of regional stability and its impact on global oil markets.

The impending launch of the Trans Mountain Expansion (TMX) pipeline on May 1, 2024, heralds a significant shift in Canada's crude oil trade dynamics and catalyzes a resurgence of investment in the Western Canadian energy sector.

A recent meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ resulted in no change to the group's output policy, emphasizing the need for members who exceeded production quotas to submit compensation plans.