Page 4 - Oil Supply

Iraq's SOMO awards fuel oil supply contracts to Chevron, Reliance

Iraqi state-owned marketer SOMO has finalised a term contract to supply 750,000 tonnes of straight-run fuel oil (SRFO) per month from April to September, three fuel oil trade sources said

Oil extends losses in post-settlement trade on oversupply worries

Oil prices plunged about 6% on Tuesday, falling even lower in post-settlement trade, as concerns over new pandemic curbs and slow vaccine rollouts in Europe added to oversupply uneasiness

OPEC+ compliance with oil production cuts in October seen at 101%

OPEC+ is due to meet next on Nov. 30 and Dec. 1, following a high-level ministerial meeting on Tuesday

Libyan Commander Khalifa Haftar committed to ending oil blockade: US

The statement said the eastern-based Libyan National Army (LNA) had conveyed "the personal commitment of General Haftar to allow the full reopening of the energy sector no later than Sept. 12"

Oil slips in Asian market as traders eye easing in supply cut at OPEC meet

Brent crude fell 27 cents to $42.97 a barrel by 0114 GMT while US West Texas Intermediate crude was at $40.27 a barrel, down 28 cents

Opec, Russia meet to extend record oil supply cuts, push for compliance

An extension to cuts was contingent on high compliance, three Opec sources told Reuters

Putin, Donald Trump discuss cooperation on coronavirus, oil: Kremlin

"The heads of state expressed serious concern regarding the scope of the spread of the coronavirus in the world," the Kremlin said in a statement

Oil may touch $100/barrel if Saudi fails to resume oil supply: Analysts

Industry sources have said it may take weeks to bring production fully online

Saudi committed to remain a reliable oil supplier to India: Pradhan

Oil Minister Dharmendra Pradhan on a three-nation visit courted the new Saudi Arabian minister in Jeddah

Oil demand concerns overdone, Brent to rally above $70 per bbl: Goldman

Demand is off to a strong start in 2019, with recent oil data suggesting current demand concerns should ease further, Goldman said

OPEC waiting for Russia before deciding how much oil production to cut

OPEC and its allies could cut output by 1 million barrels per day if Russia contributed 150,000 bpd of that reduction

Opec seeks 'sufficient cut' to prop up plunging crude oil prices: Saudi

We're looking for a sufficient cut to balance the market, equally distributed between countries, said Opec

Oil supply will outpace demand in 2019 as rise in output swamps growth: IEA

IEA left its forecast for global demand growth for 2018 and 2019 unchanged from last month at 1.3 million barrels per day (bpd) and 1.4 million bpd, respectively

Oil markets may see a supply gap in the early 2020s, says IEA

Major transformations were underway for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production

With $11 trillion needed by 2040, Opec urges producers to hike investments

Indian officials have flagged worries about the outlook for crude supply though oil producers have downplayed a potential shortfall

IEA warns of oil 'supply crunch' by 2020 with no capex

Contraction in global spending in 2015, 2016 and growing global demand may lead to a supply crunch