OPEC+ compliance remains poor

ICE Brent prompt contract eased to 68.5 $/b. An OPEC+ internal document showed poor compliance in March, as the cumulative overproduction reached 3.3 mb/d. The main contributor remained Russia and Iraq, with a combined overproduction of 1.5 mb/d. India will purchase a regular volume of Saudi crude in June according to trading sources. Indian refiners had reduced May’s lifting schedule. Singapore product stocks continued to show depleting gasoline stocks, while the fuel oil glut continued to build. 

Singapore light ends inventories
Share this news :

You might also read :

ES-gas
December 6, 2021

Slight price drop

European gas prices weakened overall on Friday, pressured by milder weather and steady pipeline flows. Norwegian flows were up on Friday, averaging 344 mm cm/day,…
ES-gas
March 22, 2021

European prices extended losses

European gas prices continued to weaken overall on Friday, still pressured by the expected rise in temperatures this week. The drop in Asia JKM prices…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]