The Officials Benchmarks | Guess who’s back! Skip to main content

Guess who’s back!

OPEC rumours regarding the supply gun came out and flat price took a hit. Meanwhile, India's Russian appetite is still a question
Published: February 13, 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
and
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Asia Edition
Share

OPEC rumours regarding the supply gun came out and flat price took a hit. Meanwhile, India's Russian appetite is still a question in the market

The OPEC guys seem ready to butt heads. Brent nosedived below $67, on the headline OPEC will increase quotas in April. As we all know, the quotas are meaningless as the members are producing what they want anyway. What is significant is the messaging. In the coded Middle East, Saudi Arabia is signalling to the UAE that it will continue to increase production regardless. Based on conversations, the UAE is at max but Saudi Arabia is not. The kingdom still has nearly half a million more to unleash. And they will!

Premium Content

To continue reading this page, please login or subscribe now.

The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.

We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.

Written by

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett

About Asia Edition

Benchmark reports published at the close of the trading day in Asia.

Related News

Brent Eases as The US Agrees to Further Talks With Iran

Brent eases as US-Iran talks resume. Russia's fuel crunch deepens, while India expands SPR capacity with a new 13mb site.
10 July 2026

Brent on its way to weekly gains on geopolitical risk

Oil prices are on-track for a weekly gain, with the M1 Brent futures contract beginning the week at $71.54/bbl.....
10 July 2026

Brent Slides as Russia’s Saratov Refinery is Hits

Brent falls as Russia halts refinery runs and bans diesel exports. CFTC blocks 24/7 crude trading; Iraq backs OPEC membership.
9 July 2026

More about
Donald Trump

Pendulum Swings

The closure of the Strait of Hormuz and disruption of feedstock flows have compounded supply tightness concerns in the Asian petrochemical..
17 page report
23 March 2026

Who’s keeping count?

Edition: Euro Edition
Quiet North Sea, jumpy flat price and loudmouth Trump all in one day!
13 February 2026

Red is the colour of the day

Edition: Euro Edition
The market is getting crushed left and right folks!
12 February 2026