- Oil demand recovery remains likely to extend through 2022, according to Russian deputy prime minister Alexander Novak
- Novak said, "oil demand levels are still around 7- 8 MMBbl/d lower than 2019 levels", "We hope to reach pre-pandemic levels in 2021; However, we only expect growth of around 6 — 7 MMBbl/d
- Novak said he hopes the group can raise production by 500 MBbl/d each month to reach 2 MMBbl/d by the end of 1Q2021
- Libya plans to export 785 MBbl/d in January (Bloomberg)
- The 785 MBbl/d figure excludes the Hariga and Zuetina terminals, which account for 258 MBbl/d and 94 MBbl/d in December, respectively
- Last month's export numbers were around 718 MBbl/d in December when excluding the Hariga and Zuetina terminal exports
- Iraq exports 2.7 MMBbl/d in December
- The country's oil ministry has plans to double 4 MMBbl/d export capacity
- The country has announced intent to remain fully compliant with the OPEC output quota
- OPEC's second-largest producer pumped 3.685 MMBbl/d in November, below its 3.804 MMBbl/d quota