Markets

The OPEC kingpin is anticipated to lower its official selling price for crude oil to Asian buyers, responding to heightened competition from non-Middle Eastern oil sources.

OPEC+ members have collectively agreed to implement additional voluntary crude production cuts totaling approximately 2.2MM b/d in response to challenges in the oil market.

The South American major oil producer’s impending membership in the OPEC+ coalition, without mandatory production quotas, bears implications and potential impacts on the global oil market.

The Venezuelan government is making final preparations for a Dec. 3 referendum to address its longstanding dispute with Guyana over the oil-rich Essequibo territory.

Malaysia's state-owned energy firm, in collaboration with its petroleum-arrangement contractors, has marked a significant achievement in 2023 with 19 exploration discoveries and two exploration-appraisal successes in Malaysia's Sarawak Basin, Northwest Sabah Basin, and Malay Basin.

The presidency of the 28th meeting of the Conference of the Parties (COP), led by the UAE, has declared its flexibility in language concerning fossil fuels within the negotiated text, emphasizing the absence of

In a recent development, OPEC Secretary General Haitham Al Ghais has accused the International Energy Agency (IEA) of unfairly vilifying the oil and gas industry,

In a notable shift, Indian refiners have reentered the Venezuelan crude market, swiftly taking advantage of the eased sanctions, marking a new battleground against China, historically a significant buyer of Venezuelan feedstock.

Recent reports from Macquarie strategists reveal a nuanced outlook on the oil market.

Oil market analysts from JP Morgan project an average Brent crude price of $83/b in 2024, driven by expectations of resilient demand in the U.S., emerging markets, and stability in European markets.