OPEC+: impact Omicron on oil prices temporary OPEC + is meeting this week to discuss output plans Bloomberg polled analysts: group may decide to keep outcut cut plans unchanged OPEC+ Continue Reading
OPEC+ sees smaller oil market surplus at the beginning of 2022 Lower expected oil supply from non-OPEC+ producing nations was the key reason for a downgrade in the surplus estimate Continue Reading
OPEC ministers are due to hold a meeting on Monday to discuss the appointment of a new secretary-general, two OPEC sources said, with Kuwait’s candidate for the job holding widespread Continue Reading
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. The 23-nation alliance led Continue Reading
2021 was a challenging year for OPEC+ as prices began to recover, presenting a temptation that has always been difficult to resist. OPEC+ exercised restraint, however, refusing to open the Continue Reading
The OPEC+ group will likely proceed with its oil production policy of the past few months by deciding next week to add another 400,000 barrels per day (bpd) to its Continue Reading
Russia’s Deputy PM and top OPEC+ negotiator Alexander Novak explains in a recent interview why the group decided not to heed the U.S. call for more production Novak: Oil production Continue Reading
Highlights Omicron variant, geopolitics cloud the outlook for oil Shrinking spare capacity to impact alliance’s dynamics Prince Abdulaziz warns traders not to bet against OPEC+ After 11 meetings in 2021 Continue Reading
Sees OPEC+ raising output by 400,000 b/d at Jan meeting Expects oil price of $60-80/b throughout 2022 Russia’s second-largest crude producer Lukoil expects the OPEC+ group to continue its current Continue Reading
Oil has had a breakout year, and while some analysts remain optimistic, others are beginning to change their tune. The IEA has become the first market expert to actually issue Continue Reading
