Production ramp up likely

The OPEC+ group meets today, after a meeting gather OPEC core members yesterday. The joint technical committee, responsible for the perspective view of the OPEC regarding the oil market fundamentals, pointed out that OECD crude and refined product would remain below the 2015-2019 average. This level of expected stocks continues to justify a production ramp-up for OPEC nations without fearing a rapidly building glut. We foresee a continued 400kb/d ramp-up in target production in February. Crude prices continued to climb higher yesterday, at 79 $/b for March Brent futures.

Energyscan oil news
Share this news :

You might also read :

May 31, 2021

European prices down again

European gas prices extended (moderately) losses on Friday as the rise in temperatures continued to exert downward pressure. The drop in Asia JKM prices and…
January 18, 2021

Chinese crude buying at risk

Brent futures prices continue to be under pressure across the curve as rising coronavirus cases in China clouds the outlook for demand. Physical crude grades…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?