Saudi Arabia is set to reduce crude oil supply to China by 5.8 million barrels in June. OPEC-plus production in April decreased by 100,000 barrels per day to 41.1 million b/d, with members adhering to cuts dropping to 34.3 million b/d. Iraq supports OPEC efforts to stabilize markets and aims to increase oil reserves to 160 billion barrels. Iraq launches oil and gas licensing round for 29 projects, receives bids for developing oil fields, and refuses to renew oil output cuts at the next OPEC+ meeting. China's ZPEC secures rights for Mid Euphrates fields in Iraq. Iraq's oil exports currently stand at 3.4 million barrels per day, and the country commits to a voluntary production cut within OPEC+ timing.
Iraq not happy with the OPEC+ production cuts? Well, it’s not really cutting and things could get contentious come June. We wrote about it in this week’s WCTW. https://t.co/mu22Hn632O https://t.co/QUZhTXubq6
CRUDE OIL Hearing that Iraq won't extend output cuts. Remember, 87% of bbg respondents expect full extension of cuts to H2. Also remember, cuts are only bullish when they go against consensus expectations. When consensus expects cuts...news flow is asymmetrically bearish. https://t.co/Zx0zELSs9x
IRAQ COMMITTED TO VOLUNTARY CUT WITHIN OPEC+ TIMING
IRAQ COMMITS TO VOLUNTARY PRODUCTION CUT IN OPEC+ AGREEMENT TIMING
IRAQ'S OIL EXPORTS AS OF TODAY STAND AT 3.4MB/D: DEP. OIL MIN
IRAQI OIL EXPORTS REACH 3.4 MILLION BARRELS PER DAY: DEPUTY OIL MINISTER
Iraq hopes oil reserves will exceed 160 bn barrels: minister https://t.co/S4wMboHdeB
IRAQI OIL MINISTER ANNOUNCES KAR GROUP SECURES RIGHTS FOR SASAN AND ALLAN OIL FIELDS
CHINA'S UEG AWARDED DEVELOPMENT CONTRACT FOR FAW OIL BLOCK BY IRAQI OIL MINISTER
IRAQ HAS MADE ENOUGH OUTPUT CUTS, IRAQI OIL MIN TELLS REPORTERS
IRAQ WON'T AGREE TO RENEW OIL OUTPUT CUTS IN NEXT OPEC+ MEETING
IRAQI OIL MINISTER: IRAQ HAS IMPLEMENTED SUFFICIENT PRODUCTION CUTS
IRAQI OIL MINISTER ANNOUNCES HYDROCARBON BIDDING ROUND RESULTS
IRAQ REFUSES TO RENEW OIL OUTPUT CUTS AT NEXT OPEC+ MEETING
CHINA'S ZPEC SECURES RIGHTS FOR MID EUPHRATES FIELDS: OIL MINISTER
#Iraq holds oil and gas licensing round for 29 projects #oott https://t.co/a2rsx91o6t
IRAQ RECEIVES SEVEN BIDS TO DEVELOP DIMA FIELD IN EASTERN REGION, SAYS OIL MINISTER
IRAQI OIL MINISTER ANNOUNCES BIDDING RESULTS IN LIVE EVENT
IRAQ TO SHIFT 40% OF OIL OUTPUT TO PETCHEM PROJECTS IN 10YRS:PM
IRAQ SEEKS TO BOOST ITS OIL RESERVES TO 160B BBLS: OIL MIN
Iraq launches oil and gas licensing round for 29 projects https://t.co/R5SorH72Mc https://t.co/Cfmswizpe0
IRAQ AIMS TO INCREASE ITS OIL RESERVES TO 160 BILLION BARRELS, SAYS OIL MINISTER
IRAQ SUPPORTS OPEC EFFORTS TO STABILIZE MARKETS, SAYS OIL MINISTER
#Opec+ crude output by members subject to cuts fell by 440,000 b/d in April as Russia began implementing a fresh cut and Iraq and Kazakhstan curbed some of their overproduction. #oott https://t.co/K362HNrom3
#Opec-plus’ crude oil production in April slid by 100,000 barrels per day to 41.1 million b/d, while output by the 18 members adhering to agreed cuts declined by 150,000 b/d to 34.3 million b/d, according to Energy Intelligence assessments. #oott https://t.co/n98itZVlEB
Saudi crude oil supply to #China to fall 5.8 mln bbls in June from May, sources say #oott https://t.co/nWw7zGMbyC