IMG.gif
Fundamentals

Opec-Plus: Russia Sparks Largest Surge in Nine Months

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
ss1495711964-drilling-russia

The group of producers in Opec-plus with monthly targets boosted output by 610,000 barrels per day in June, the largest monthly gain since September. But the 38.05 million b/d cranked out by these 19 countries was still 2.75 million b/d lower than their collective target of 40.8 million b/d for the month — an enormous shortfall that alliance leaders are likely to welcome in private now that oil benchmarks have fallen around 15% since mid-June and are under pressure from ominous signs for the global economy.

Topics:
Crude Oil, Oil Supply, Opec-Plus Supply
Wanda Ad #2 (article footer)
#
Crude prices trail product values by a historic distance but find strength in high spot premiums from a distorted short-haul market in Europe.
Tue, Jul 19, 2022
Crude production in the US shale sector is expected to rise by about 141,000 b/d in September, according to the EIA.
Mon, Aug 15, 2022
An impending EU ban on insurance and financing for tankers that carry Russian crude oil and products could cause price spikes worldwide.
Tue, Aug 16, 2022