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Dec 16, 2023 | 
argusmedia.com | Aydin Calik
Kuwait's emir Sheikh Ahmad Nawaf al-Ahmad al-Sabah died today, three years after taking the helm of the oil exporting Mideast Gulf state. Crown Prince Sheikh Mishal al-Jaber al-Sabah will take over as emir, deputy prime minister Essa Al-Kanderi confirmed today. Sheikh Mishal had already assumed much of Sheikh Nawaf's constitutional duties in 2021 due to health issues. Sheikh Nawaf had been admitted to hospital in late November due to unspecified health problems.
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Dec 14, 2023 | 
argusmedia.com | Aydin Calik
The IEA has revised up its oil demand growth forecast for 2024 but said a near-term global economy slowdown is weighing on consumption. It sees supply exceeding demand next year. In its monthly Oil Market Report (OMR) released today, the IEA said a deterioration in the macroeconomic outlook led it to a 390,000 b/d downward revision to its oil demand growth forecast for the final quarter of 2023.
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Dec 13, 2023 | 
argusmedia.com | Aydin Calik
Opec has kept its oil demand growth forecast for 2024 unchanged. In its final Monthly Oil Market Report (MOMR) of the year, Opec has stuck with a robust oil demand growth projection of 2.25mn b/d for next year, following on from a 2.46mn b/d increase this year. Notably, there is zero change to its first-quarter estimate when some members of the wider Opec+ group are due to implement additional "voluntary" output cuts.
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Dec 8, 2023 | 
argusmedia.com | Aydin Calik
An error has occured. The article you are searching for was not found. Published date: 08 December 2023 Opec+ crude production edged down in November as the group fell further behind its pledged production target. Output by the 19 Opec+ members subject to quotas was 110,000 b/d lower on the month at 36.13mn b/d, according to Argus estimates.
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Nov 30, 2023 | 
argusmedia.com | Aydin Calik |Bachar Halabi |Nader Itayim
Six Opec+ members have agreed to 700,000 b/d worth of voluntary crude production cuts in the first quarter of next year, while Saudi Arabia said it will extend its existing 1mn b/d cut over the same period. The voluntary reductions are calculated from the respective countries' 2024 output targets, which were set in June. They are in addition to a previous round of voluntary cuts announced in April.
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Nov 29, 2023 | 
argusmedia.com | Aydin Calik |Nader Itayim |Bachar Halabi
Corrects Ice Brent crude futures price in 7th paragraph. The Opec+ alliance is scheduled to meet virtually tomorrow, 30 November, to chart a course on its production policy for next year. But with just hours until the meeting begins it is unclear if there is consensus among ministers on what to do next. Opec+ was originally set to hold a bi-annual ministerial meeting on 26 November in Vienna, but this was pushed back in a sign that pre-meeting talks were proving difficult.
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Nov 29, 2023 | 
argusmedia.com | Aydin Calik |Nader Itayim |Bachar Halabi
The Opec+ alliance is scheduled to meet virtually tomorrow, 30 November, to chart a course on its production policy for next year. But with just hours until the meeting begins it is unclear if there is consensus among ministers on what to do next. Opec+ was originally set to hold a bi-annual ministerial meeting on 26 November in Vienna, but this was pushed back in a sign that pre-meeting talks were proving difficult.
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Nov 27, 2023 | 
argusmedia.com | Nader Itayim |Bachar Halabi |Aydin Calik
Opec+ postponing its ministerial meeting to 30 November set off a host of theories about what it meant for group unity and the fate of its deep production cuts. Ministers were originally meant to meet on 26 November, but pushed back the date to the end of the month. Oil prices briefly slumped as news of the delay emerged, but have since stabilised. Delegates say they are confident that the group will reach a consensus on policy direction for the start of next year.
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Nov 22, 2023 | 
argusmedia.com | Aydin Calik |Nader Itayim |Bachar Halabi
The upcoming Opec+ ministerial meeting that was scheduled to be held in Vienna on 26 November has been pushed back to 30 November, the Opec secretariat said today. "The 187th Meeting of the Opec Conference, the 51st Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 36th OPEC and non-OPEC Ministerial Meeting (ONOMM), originally planned for 25 and 26 November 2023, have been rescheduled to Thursday, 30 November 2023," Opec said.
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Nov 22, 2023 | 
argusmedia.com | Aydin Calik
The upcoming Opec+ ministerial meeting that was scheduled to be held in Vienna on 26 November has been pushed back to 30 November, the Opec secretariat said today. "The 187th Meeting of the Opec Conference, the 51st Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 36th Opec and non-Opec Ministerial Meeting (ONOMM), originally planned for 25 and 26 November 2023, have been rescheduled to Thursday, 30 November 2023," Opec said. The secretariat did not give a reason for the delay.
