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2022-03-04 12:10:00

OIL: RELEASE OF 60 MB

OIL: RELEASE OF 60 MB

ENERDATA3 Mar 2022 - The 31 member countries of the International Energy Agency (IEA) have agreed to release 60 mbl of oil from their emergency reserves to help reduce volatility in global oil markets set off by Russia's invasion of Ukraine. The initial release of 60 mbl accounts for 4% of those stockpiles (1.5 Gbl) and would represent 2 mbl/d for 30 days. The United States will sell 30 mbl of oil from the Strategic Petroleum Reserve.

In addition, the OPEC+ has agreed to adjust upward the monthly overall production by 0.4 mb/d for the month of April 2022, until phasing out the 5.8 mb/d production adjustment. In April 2022, both Saudi Arabia and Russia should produce over 10.4 mb/d; the OPEC-10 production should reach 25.3 mb/d, that of non-OPEC producers 16.4 mb/d, and the OPEC+ production should average 41.7 mb/d. The OPEC+ is unwinding production cuts of 5.8 mb/d, which were imposed in 2020, and it aims to fully phase out cuts by around September 2022, subject to market conditions. Since August 2021, OPEC+ has raised its output target each month by 400,000 bbl/d.

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Earlier:

OIL: RELEASE OF 60 MB
2022, March, 3, 14:40:00
OIL PRICE: NEAR $115
Brent was up $2.18, or 1.9%, at $115.11 a barrel, WTI hit a high of $116.57.
OIL: RELEASE OF 60 MB
2022, March, 3, 14:35:00
ОПЕК+ 400 ТБД
Страны-участницы единогласно приняли решение сохранить договорённости о продолжении увеличения добычи на суммарно 400 тыс. баррелей в сутки в апреле 2022 года.
OIL: RELEASE OF 60 MB
2022, March, 3, 14:30:00
OPEC+ 0.4 MBD
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of April 2022, as per the attached schedule.
OIL: RELEASE OF 60 MB
2022, March, 2, 11:40:00
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OPEC+ members are attempting to regain pre-pandemic output levels by late 2022 through their monthly easing of quotas, but potential disruptions to Russian oil flows put that plan at risk.
OIL: RELEASE OF 60 MB
2022, February, 28, 13:20:00
OPEC+ RUSSIA COMMITMENT
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OIL: RELEASE OF 60 MB
2022, February, 22, 13:00:00
OPEC+ RUSSIA STABILISATION
OPEC, along with 10 allies led by Russia, has been gradually easing back production quotas it implemented at the start of the coronavirus pandemic by 400,000 b/d each month, aiming to return to pre-pandemic output levels by late 2022.
OIL: RELEASE OF 60 MB
2022, February, 3, 13:50:00
ОПЕК+ РОССИЯ: 122%
В целом страны ОПЕК+ успешно исполняют рекомендации по наращиванию добычи: исполнение сделки в декабре 2021 года достигало 122%.
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Tags: OIL, IEA, PRICE
Chronicle:
OIL: RELEASE OF 60 MB
2022, May, 27, 12:14:00
WORLD GAS CONFERENCE 2022
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2022, May, 27, 12:13:00
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OIL: RELEASE OF 60 MB
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OIL: RELEASE OF 60 MB
2022, May, 27, 12:05:00
UAE, INDIA ENERGY COOPERATION
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OIL: RELEASE OF 60 MB
2022, May, 27, 12:00:00
U.S. OIL INVENTORIES DOWN BY 1.0 MB TO 419.8 MB
U.S. commercial crude oil inventories decreased by 1.0 million barrels to 419.8 million barrels.
OIL: RELEASE OF 60 MB
2022, May, 26, 12:40:00
OIL PRICE: BRENT ABOVE $114, WTI NEAR $111
Brent gained 47 cents, or 0.41%, to $114.50 a barrel , WTI climbed 53 cents, or 0.48%, to $110.86 a barrel.
OIL: RELEASE OF 60 MB
2022, May, 26, 12:35:00
ВЗАИМОДЕЙСТВИЕ РОССИИ, ИРАНА
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