Register and we will customize a solution that meets your exact needs. When you speak to one of our experts, you may be qualified to sample our industry-leading products on a no-cost basis.
You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.Opec and its non-Opec allies have moved an emergency meeting with other producing countries to 9 April from 6 April, delegates confirmed.
Members discussed postponing the video conference meeting after a dispute intensified between Saudi Arabia and Russia — which lead the Opec+ group — over who is to blame for the recent collapse in oil prices.
It remains unclear which oil-producing countries outside the Opec+ alliance will participate.
Updates bid price London, 3 December (Argus) — TotalEnergies has bid for Nigerian crude Forcados on Argus Open Markets (AOM), the first activity for west African crude on the public price-discovery platform. The French firm began its bid for a 1mn bl cargo of medium sweet Forcados loading over 23-27 January at price reporting agency Platts' Dated Brent +1.80 on a fob basis. The firm bid up to Dated +2.65 for Forcados, amending the loading dates to 1-17 January. The bid was then withdrawn, and no deals were heard struck. The AOM platform is already used for a number of commodity markets covered by Argus and was enabled for west African crude grades in early November. Between 11:00 and 17:30 London time on UK working days, market participants registered on the platform are able to post and respond to bids and offers on the platform for any of the 24 west African grades assessed in the Argus Crude report. By Sanjana Shivdas Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
London, 3 December (Argus) — TotalEnergies has bid for Nigerian crude Forcados on Argus Open Markets (AOM), the first activity for west African crude on the public price-discovery platform. The French firm began its bid for a 1mn bl cargo of medium sweet Forcados loading over 23-27 January at price reporting agency Platts' Dated Brent +1.80 on a fob basis. The firm bid up to Dated +1.90 for Forcados loading in end January. The AOM platform is already used for a number of commodity markets covered by Argus and was enabled for west African crude grades in early November. Between 11:00 and 17:30 London time on UK working days, market participants registered on the platform are able to post and respond to bids and offers on the platform for any of the 24 west African grades assessed in the Argus Crude report. By Sanjana Shivdas Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Washington, 2 December (Argus) — US military operations near Venezuela have been so successful in stopping the flow of drugs by sea that the naval force is taking a pause, US defense secretary Pete Hegseth said on Tuesday. "We're stopping the drugs, we're striking the boats, we're defeating narcoterrorists," Hegseth said at a cabinet meeting chaired by President Donald Trump at the White House on Tuesday. "We've had a bit of a pause because it's hard to find boats to strike right now, which is the entire point." Trump added that "drugs coming in by sea are down 91pc, and I don't know who the [other] 9pc is". Trump did not provide any details to back his claim. Hegseth's comments could be a prelude to a declaration of victory that would allow the large US naval force deployed near Venezuela to disperse without taking direct military action against the country. They also could be an attempt to shift attention from a high-profile debate about the legality of the US operations. Either way, the Trump administration is no closer to explaining what it is trying to achieve in Venezuela than when it began to amass naval ships, Marines and war planes in the Caribbean in early September. As a legal rationale for the US naval operation, the administration has argued it is interdicting drug-laden boats allegedly launched from Venezuela. As the US force has grown in size, the Trump administration has hinted at possible land strikes against Venezuela or even an attempt at regime change in Caracas. But the Trump administration has now been forced to defend the legality of its Caribbean operations. The US naval force has reported lethal attacks on around 20 small boats in international waters near Venezuela since early September. The Pentagon initially said that the first boat it destroyed, on 2 September, carried drugs and 11 crew members, all of whom were killed by a missile strike. But the White House confirmed on Monday that two crew members survived the first attack on that boat and were then killed in a subsequent missile strike. A group of retired US military lawyers said the second strike amounted to a war crime or murder. Trump's administration is defending the 2 September strike as legally justified, while at the same time trying to shield Hegseth from responsibility. Hegseth on Tuesday assigned full responsibility for it to Admiral Frank Bradley, who is in charge of US special forces' operations. "I watched that first strike," Hegseth told reporters observing the Cabinet meeting. "As you can imagine, at the Department of War, we got a lot of things to do, so I didn't stick around." Then, "a couple of hours later, I learned that that commander had made the decision, which he had the complete authority to do," Hegseth said. Bradley "made the correct decision to ultimately sink the boat and eliminate the threat," Hegseth said. "I did not personally see survivors because the thing was on fire," he said. "There's this thing called the fog of war. This is what you in the press don't understand." The armed services committees in the US Senate and the House of Representatives have vowed to investigate the circumstances of the 2 September boat attack. Senators Rand Paul (R-Kentucky) and Tim Kaine (D-Virginia) said on Tuesday they will try to advance a resolution blocking the use of military force against Venezuela. Venezuela's president Nicolas Maduro appears to be taking the threat of a US land attack seriously, asking fellow Opec members on Monday to help "stop this growing aggression". Maduro made a brief televised appearance on Monday, after not speaking publicly for several days. He complained about enduring weeks of "psychological torture" from the US and shouted "Victory forever!" in English. Trump said on 30 November that he had spoken with Maduro the preceding week, but he provided no details. By Haik Gugarats and Carlos Camacho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Sao Paulo, 1 December (Argus) — The first draft of a roadmap to transition away from fossil fuels could be ready by a global summit on the topic in Colombia in April, according to UN Cop 30 climate summit president Andrea Correa do Lago, who plans to ask Opec, the Paris-based IEA and other groups to contribute. The creation of a roadmap to transition away from fossil fuels became a central topic at Cop 30, held last month in Brazil's north, after Brazilian president Luiz Inacio Lula da Silva called for one during a leaders' summit days before Cop 30 began. The issue received backing from just over 80 countries but was ultimately left out of any final texts . At the closing of the summit, the Brazilian presidency promised to deliver a roadmap by the start of Cop 31 — which will be held in Turkey next year — but the work will be done outside of official negotiations. "We will probably have a lot done before the Colombia meeting", Correa do Lago said in a televised interview on 28 November. Colombia and the Netherlands announced before Cop 30 that they would co-host an international conference on the just transition away from fossil fuels on 28-29 April, and Correa do Lago said that the work on the roadmap would benefit from the event. The Cop 30 presidency will create a working group that will be in contact with international energy agencies already looking into the topic, he added, "because energy is a delicate issue from a geopolitical and economic point of view." Correa do Lago plans to tap the IEA, Opec, the International Renewable Energy Agency, the Global Biofuels Alliance and the International Solar Alliance to help the working group, among others. "We want to put together something that brings their work together, because you already have many people working on this, but not as a unified whole as we intend to do," he said. The presidency wants to "spark a debate on the topic in a very different way than it has been handled so far", he said. Fossil fuel producers such as Russia, India and Saudi Arabia pushed back heavily on including a roadmap in Cop 30 texts, while some developing countries still looking to rely on their oil resources, such as Mexico and Guyana, Kenya and Sierra Leone, supported the idea of a roadmap, as long as it takes into account national circumstances and it promotes in a just, equitable and orderly transition. Instead of the roadmap, Cop 30 parties agreed on the launch of a "global implementation accelerator ", and the "Belem Mission to 1.5". These voluntary initiatives are aimed at "enabling ambition and implementation" of countries' climate plans and at keeping the Paris Agreement's 1.5°C temperature rise limit within reach. This refers to the more ambitious goal of the Paris accord — to hold the global temperature increase to less than 2°C above pre-industrial levels, and preferably to no more than 1.5°C. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more