• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Does Toyota Know Something That We Don’t?
  • 6 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 6 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 5 days China is using Chinese Names of Cities on their Border with Russia.
  • 6 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 5 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 6 days Putin and Xi Bet on the Global South
  • 6 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 7 days United States LNG Exports Reach Third Place
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 11 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
Editorial Dept

Editorial Dept

More Info

Premium Content

Oil Markets On Edge As OPEC+ Meeting Looms

Just days ahead of the July 1st OPEC+ meeting, all eyes are firmly on Vienna, and much less so on the incomprehensible back-and-forth between the U.S. and Iran. Traders are banking on production data that shows U.S. sanctions on Venezuela and Iran have managed to reduce OPEC’s oil production by more barrels than OPEC’s own self-imposed restrictions. The total decline in supply to date has been 2.5 million bpd, while OPEC cuts had only 800,000 bpd on the books from members and total OPEC+ cuts were to be 1.2 million bpd. This, of course, gives rise to predictions that OPEC could change its mind about extending cuts, even though the rumor on the street is a deal has already been agreed - even if Russia remains reluctant. We’ll find out in Vienna next week. But the Saudis still need oil to be $70+ a barrel, and data suggests they won’t get it through production cut extensions thanks to the continually rising US shale output, which is expected to top a record 8.5 billion bdp next month.

Haftar’s Calculated Move to Control Libyan Oil Revenues

Media has not figured out what to make of the NOC’s recent statement condemning calls for a shut down of Libya’s entire oil flow. That’s because it’s a tricky backstory to follow. It’s a stroke of genius on the part of General Haftar in his push to take control of Tripoli and the central bank that controls all the oil revenues.

According to our sources, Haftar has…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News