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Rania El Gamal

Exclusive: OPEC fears second virus wave to prolong oil inventory overhang

Jul 16 2020

LONDON OPEC fears its record oil cuts will fail to rebalance the market and solve the worst glut in history if a second wave of the COVID-19 pandemic undermines an economic recovery later this year, according to internal OPEC research seen by Reuters.

OPEC+ eases record oil cuts as economy recovers from pandemic

Jul 15 2020

LONDON/DUBAI/MOSCOW OPEC and allies such as Russia agreed on Wednesday to ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic but said a second wave of the virus could complicate rebalancing in the market.

OPEC chief sees oil market moving closer to balance before key meeting

Jul 13 2020

LONDON/DUBAI The oil market is getting closer to balance as demand gradually rises, OPEC's secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August.

Saudi oil exports in Aug to stay at July level: sources

Jul 13 2020

DUBAI Saudi Arabia's oil exports in August will remain the same as in July as the extra barrels the kingdom is set to pump next month under an OPEC+ deal will be consumed domestically to meet rising power generation demand, industry sources told Reuters.

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease: sources

Jul 07 2020

LONDON/DUBAI Abu Dhabi National Oil Company (ADNOC) plans to boost its oil exports in August, the first signal that OPEC and its allies are preparing to ease record oil output cuts next month, three sources familiar with the development told Reuters.

Angola agrees to comply fully with oil cuts after OPEC pressure, sources say

Jul 07 2020

DUBAI/ LONDON Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources said.

Angola resists OPEC pressure to comply fully with oil cuts - sources

Jul 03 2020

DUBAI/LONDON Angola is resisting pressure by OPEC for a steeper oil output cut to comply fully with record supply curbs, OPEC and industry sources said.

Angola resists OPEC pressure to comply fully with oil cuts- sources

Jul 02 2020

DUBAI/LONDON, July 2 Angola is resisting pressure by OPEC's de-facto leader Saudi Arabia for a steeper oil output cut to comply fully with record supply curbs, OPEC and industry sources said.

UAE’s BPGIC says limited impact from virus on oil storage facilities

Jul 01 2020

DUBAI, July 1 The United Arab Emirates’ Brooge Petroleum and Gas Investment Co (BPGIC) said on Wednesday that it was moving ahead with its oil storage expansion plans as there has been a limited impact from the coronavirus pandemic on the company's operations.

OPEC, Russia seen easing oil production cuts from August: sources

Jun 30 2020

LONDON OPEC and Russia will likely ease record oil production cuts from August as global oil demand recovers and prices have bounced back from their lows, four OPEC+ sources told Reuters.

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