OPEC+ boosts crude oil exports in September

The OPEC+ group raised their total seaborne exports in September to 22.84 million barrels per day (bpd) from 22.11 million bpd in August, but the alliance stayed within its agreed ceiling, IHS Markit data and analysis showed on Thursday.  

OPEC’s crude oil shipments rose last month to 18.2 million bpd, up from 17.53 million bpd exported on tankers in August, according to data from IHS Markit Commodities at Sea.

Saudi Arabia’s shipments have recovered from the lows in June, when they were below 5 million bpd, and returned to above 6.25 million bpd in September, close to the levels last observed in March 2020, before the Saudis flooded the world with oil in April in the brief price war with Russia, wrote Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime & Trade at IHS Markit, and Raj Rajendran, Principal Journalist, OPIS.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s s shares are listed on the London AIM and Dublin ESM Markets.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

More articles like this

Oil rises on US vaccine rollout

Oil prices rose on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites. Still, crude prices have remained rangebound in

Oil prices end higher

Oil prices ended higher on Wednesday, shaking off an earlier decline, as traders parsed U.S. government data showing a more-than-3-million-barrel decline in crude inventories, and a bigger-than-expected climb in gasoline inventories. Once traders “looked beneath the sticker shock”

PetroNeft Resources $156,000 of debt converted to equity

PetroNeft Resources plc (LON:PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, has provided a

Russia aims to raise production

Russia, the leader of the non-OPEC group in OPEC+, favors a rollover of the alliance’s oil production cuts while seeking a slight increase for itself to meet higher seasonal demand, a source with knowledge of Moscow’s plans told Reuters on

Oil is still up almost 34% this year

Oil was steady in Asian trading after an industry report pointed to shrinking U.S. crude and gasoline stockpiles as the market took a breather following a sustained slide that dragged prices below $65 a barrel. Futures in New

Oil prices rise as vaccine drives

Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and US fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month’s Texas storm. Brent crude oil