Saudi Oil Minister: OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices

Though the global energy crunch is not impacting the United States as much as its European and Asian counterparts, it will have an impact on Permian producers.

The IEA has predicted that Canada’s oil production will begin to decline at the end of this decade, but not before the country increases its production by up to 700,000 bpd

Crude inventories fell by 400,000 barrels.Gasoline production rose last week, while inventories continue to fall.Middle distillate production fell slightly along with inventories.

Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration.

▶After a disastrous 2020, oil majors have now well and truly recovered and analysts expect an impressive earnings season this quarter

The OPEC+ group saw its overall compliance with the collective oil production cuts at 115 percent in September, a delegate told Argus on Monday, down from the 116-percent compliance in August, but still higher than the market had hoped, with some members of the alliance failing to ramp up production in line with their quotas.

Beijing's crackdown on the private refining industry was one reason behind this import decline as the government tackled excessive fuel supply

OPEC+ will continue to do what it is currently doing and, in time, there will be balance in oil markets

It is “quite possible” that the WTI Crude oil prices reach $100 per barrel in light of growing global demand for energy commodities, Russian President Vladimir Putin said on Wednesday

In this month’s report, OPEC revised downward its 2021 estimate due to lower-than-expected actual data for the first three quarters of the year

OPEC+ is producing less oil than it is supposed to, a survey by Platts has revealed, as cited by Forex Live.