Crude edges higher on Opec+ compliance promises
Traders see the positives as producers commit to even greater respect for quotas
The benchmark Ice Brent front-month contract was trading above $42.50/bl at Friday lunchtime, threatening to record its highest closing price since early March. Better-than-expected compliance with Opec+ production curbs and promises made by quota busters at Thursday’s joint ministerial monitoring committee (JMMC) to mend their ways are the major drivers. The Ice contract closed just above $42/bl on 5 June but slipped back below $40/bl before the current rally kicked in yesterday. Today’s trading has seen the highest price levels since the collapse from $51.50/bl on 5 March to under $33.50/bl just three trading days later on 9 March. Baghdad boost Iraq’s promise to the JMMC—that it will comp
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
9 December 2025
The group’s oil production declined in November, our latest analysis finds, amid divided sentiment over market balances and geopolitical jitters
