2 Mar 2021

JBC in the Media - Bloomberg

"Russia, which jointly leads the alliance, has signaled it’s eager to proceed with a production increase. Saudi Arabia, wary that demand is still fragile and inventories plentiful, believes the producers should continue to be 'extremely cautious.'

Illustrating that sense of vigilance, the kingdom cut output by 970,000 barrels a day in February to 8.15 million a day, according to the survey.

It’s based on ship-tracking data, information from officials, and estimates from consultants including Rystad Energy AS, JBC Energy GmbH, Rapidan Energy Group and Energy Aspects Ltd."