OPEC+ Faces Fork in the Road

OPEC+ once again extended its oil production cuts this month. The decision was anything but unexpected and, unlike previous production policy announcements, it had the desired effect on prices. However, it could only work for so long. Soon, OPEC will need to make a decision.

Why Is Iraq Now Blaming IOC’s For Ongoing Delay To Kurdish Oil Flows?

It has now been just over a year since the Federal Government of Iraq imposed an embargo on oil exports from the country’s semi-autonomous region of Kurdistan.
Destroying all financial independence for the region, which is reliant on ongoing independent oil supplies, is one of the tools Baghdad has to erode Erbil’s autonomy.
The latest tactic of blaming international oil companies for the embargo still being in place is just another element.

What Does China’s New Economic Growth Target Mean For Oil Prices?

Last week saw China officially announce its economic growth target for 2024 of “around 5 percent”.
There are signs that China’s trade globally is beginning to markedly trend up again.
Fiscal expansion and increased trade is likely to feature increased demand for oil from China, as opposed to the type of growth that has dominated 2023

Oil Dips on Faltering Chinese Economy

il prices fell on Wednesday, pressured by lacklustre economic activity in leading crude importer China, but a first monthly gain since September remained in sight as flaring tensions in the Middle East heightened supply concerns.