OPEC will incrementally add 1.1 mb/d of production up to July

OPEC members in their latest meeting decided to ramp up progressively output up to July, where they expect output to rise by at least 1.1 mb/d. Some concerns remained over the normalization pace of stocks, the strength of the physical crude market and refining margins. The impact on prices was muted, with ICE Brent prices rising by close to 3% on early Friday, at 64.6 $/b. Russian production recovered in March, as adverse weather eased in oil-producing regions. US producers added 13 rigs last week, one of the best performance since the pandemic.  

total-refined-products-stock
Share this news :

You might also read :

ES-power
April 27, 2022

Well, it was a quick !

The European power spot prices edged down yesterday on an early bearishness of gas prices and forecasts of warmer temperatures and strong solar generation offsetting…
ES-gas
September 1, 2021

Prices continued their rally

European gas prices rose again yesterday, still supported by relatively weak stock levels and uncertainty over Russian supply for the coming months. The rise in…
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]