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opec+

after U. After U.S. request

Asia looks to release oil reserves

Singapore - Governments from some of the world's biggest economies said on Thursday they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices

Current shortage not unexpected

UAE says Q1 to see oil supply surplus

Dubai - UAE Energy Minister Suhail al-Mazrouei said on Monday that all indications point to an oil supply surplus in the first quarter of 2022 and he expected OPEC+ would likely stick to current production policy when it next meets in early December. OPEC and its allies agreed earlier this month to stick with plans to raise oil output by 400,000 barrels per day (bpd) from December

Through July

OPEC+ sticks to plan to ease supply cuts

London - OPEC+ oil producers agreed on Tuesday to stick to the existing pace of gradually easing supply curbs through July, as they sought to balance expectations of a recovery in demand against a possible increase in Iranian supply. The Organization of the Petroleum Exporting Countries and allies - known collectively as OPEC+ - decided in April to return 2.1 million barrels per day (bpd) of supply to the market during May through July

IMF says

Saudi Arabia could ease fiscal adjustment to help recovery

Dubai - Saudi Arabia's plans to balance its finances are making good progress but a slower pace of adjustment could be considered this year to support the recovery from the coronavirus crisis, the International Monetary Fund said on Monday