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US Drillers Cut Oil Rig, Add Gas Rig amid Deep Freeze
2021-02-19 19:23:59| OGI
U.S. oil rigs fell by one to 305 this week, while gas rigs rose one to 91, their highest since April 2020.
Saudi Arabia Set to Raise Oil Output, Reversing Recent Production Cut: Reports
2021-02-17 23:25:00| OGI
Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to a WSJ report on Feb. 17, adding that the output rise wont kick in until April.
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Saudi Cut to Boost Oil Market De-Stocking as Demand Falters
2021-01-11 16:09:52| OGI
Barclays notes that the COVID-19 situation puts the oil market in uncharted territory.
OPEC+ Oil Output Cut Compliance at 101%, Sources Say
2020-12-30 18:05:00| OGI
The OPEC+ group of oil producers fully complied with supply cuts in November, two sources from the alliance told Reuters ahead of the group's Jan. 4 meeting to discuss whether to boost production further.
OPEC+ Leaning towards Oil Cut Extension, Despite Rally
2020-11-25 16:00:57| OGI
OPEC and allies including Russia are leaning towards delaying next years planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, three sources close to OPEC+ said.
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