OPEC Monthly Oil Market Report July 2022

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  • #40165
    TradersCom
    Keymaster

    The OPEC Monthly Oil Market Report (MOMR) for July released Tuesday provides OPEC’s outlook for crude oil market developments for the coming year with
    [See the full post at: OPEC Monthly Oil Market Report July 2022]

    #40437
    TradersCom
    Keymaster

    “Saudi Arabia, the world’s largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power stations to meet summer cooling demand and free up the kingdom’s own crude for export… Russia has been selling fuel at discounted prices after international sanctions over its invasion of Ukraine left it with fewer buyers.” July 14 – Reuters:

    #40438
    TradersCom
    Keymaster

    “Brazil is looking to buy as much diesel as it can from Russia and some of the deals were being closed ‘as recently as yesterday,’ Brazilian Foreign Minister Carlos Franca said… ‘We have to make sure that we have enough diesel to the Brazilian agribusiness and, of course, for Brazilian drivers,’ Franca told reporter… ‘So that’s why we were looking for safe and very reliable suppliers of diesel – Russia is one of them.” July 12 – Reuters (Michelle Nichols):

    #40439
    TradersCom
    Keymaster

    “Brazil is looking to buy as much diesel as it can from Russia and some of the deals were being closed ‘as recently as yesterday,’ Brazilian Foreign Minister Carlos Franca said… ‘We have to make sure that we have enough diesel to the Brazilian agribusiness and, of course, for Brazilian drivers,’ Franca told reporter… ‘So that’s why we were looking for safe and very reliable suppliers of diesel – Russia is one of them.” July 12 – Reuters (Michelle Nichols):

    #41313
    TradersCom
    Keymaster

    OPEC+ Meeting Statement

    Confirmed 100k bpd increase in quotas spread across all #OPEC+ countries.
    Acknowledgement extra oil is in short supply

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