Premiums for August-loading Oman oil surged against the region’s main pricing benchmark and timespreads for Dubai crude rallied
Global oil supply
Global oil demand
Oil rises on signs of U.S. inventory drawdown, OPEC bullishness
OPEC boosted its consumption forecast for 2021 and predicted the recovery will continue
crude oil output
OPEC production plunges as Saudis deliver extra oil cutbacks
Output from the group fell by 920,000 barrels a day, the biggest drop in eight months
global energy
OPEC+ emerges from 2020 chaos to face delicate balancing act
Moscow believes that the group – which slashed output during the pandemic – can revive another 500,000 barrels a day of idle capacity in February, on top of an increase scheduled for this month