Opec-Plus: July Compliance Slides on Saudi Upswing

Copyright © 2021 Energy Intelligence Group
The Saudi Aramco Puzzle

• No longer confined by its 1 million barrel per day unilateral pledge, Saudi Arabia cranked up oil production in July to 9.7 million b/d, overshooting its output target by 200,000 b/d, Energy Intelligence’s assessment shows. • Saudi overproduction was partially offset by Iraq’s stellar compliance, which reached an eight-month high, and a decline in output by Nigeria and Angola. • Overall compliance for the group was 107%, the lowest since January, according to our assessment, although this was anticipated as the group had clearly laid out the increases.

Russian producers will boost crude oil supplies to world markets in the final quarter of the year now that production is rising and domestic demand is on the wane.
Thu, Sep 16, 2021
Public pressure and high natural gas prices may not be enough to solve the methane waste problem plaguing the Permian Basin.
Fri, Sep 17, 2021
Most Read
BP has agreed to work with Abu Dhabi's national oil company and the emirate's renewable energy company on a series of energy transition initiatives
Thu, Sep 16, 2021