The Joint Ministerial Supervision Committee (JMMC) of OPEC+, a group formed by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, has determined to maintain the 'status quo' in oil production, as agreed last October.
This OPEC+ technical committee lacks…
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Oil demand will exceed 100 million barrels
The International Energy Agency (IEA) expects global oil demand to grow by 1.9 million barrels per day (mb/d) in 2023, to a record 101.7 mb/d in total.
Regarding the data for 2022, the demand for crude oil by the OECD countries "collapsed"…
OPEC: oil demand will grow until 2035
In its most recent report, OPEC forecasts a sustained increase in demand for crude oil until 2025, taking as a reference the requirements in the transport and technology sectors.
The report of the Organization of Petroleum Exporting…
The US announced the release of 15 million barrels of oil
The President of the United States, Joe Biden, announced that the Department of Energy will release this Wednesday 15 million barrels from the country's Strategic Petroleum Reserve (SPR) with the aim of being delivered in December.
Biden…
OPEC+ cut in November equals 2 % of global demand
The recently announced decision by OPEC + to reduce daily production by 2 million barrels will be applied from November. The decision was published in a declaration at the end of the 33rd Ministerial Meeting of Members and non-OPEC Members.…
Barrel of oil stands at 91 dollars
The price of a barrel of Brent oil, a benchmark for Europe, exceeded the quota of 91 dollars before the opening of the markets of the Old Continent with an eye on the meeting to be held this week in Vienna by the representatives of the…
Venezuela will receive 1,220,000 barrels of crude oil from Iran
Venezuela's dependence on Iranian crude continues to grow. In the coming days, tankers from Iran with a cargo of crude oil of some 1,220,000 barrels, in addition to another 2,000,000 of condensate, are expected to arrive on the Venezuelan…
Maduro wants to export gas to Europe
Venezuelan President Nicolás Maduro reiterated his desire that Venezuela be able to export oil and gas to the markets of Europe and the United States in order to contribute to global energy and economic stability.
"We have said it, we have…
Venezuela willing to export gas and oil to the EU
Venezuela would be able to export gas and oil to countries that require it, mainly to Europe, to face the arrival of winter and the crisis generated by the suspension of supplies of these items from Russia.
As will be recalled, the EU…
Russia threatens to cut oil supply
The Russian government has threatened to cut off oil supplies to those countries that decide to put a cap on the price of Russian crude, an idea that the United States plans to bring to the G7 this Friday.
"If they impose restrictions on…
Oil price goes back above 100 dollars
The price of a barrel of Brent crude, a benchmark for Europe, again exceeded the threshold of 100 dollars on Wednesday, after Saudi Arabia speculated on the possibility of an adjustment in the production of the Organization of Petroleum…
Citgo posted record profits in the second quarter of the year
This Thursday, Citgo announced that it obtained record net profits during the second quarter of the year thanks to an increase in crude processing volumes as well as stronger margins.
According to the refiner's report, the results show an…