The president of OPEC reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across Continue Reading
OPEC’s analysts on Dec. 14 painted a much gloomier view of the oil market in 2021 -– and yet indicated that the bloc and its allies can afford to be Continue Reading
OPEC has lowered its oil demand forecast for 2020 again, according to the latest version of the Monthly Oil Market Report released on Monday. OPEC now expects global oil demand Continue Reading
OPEC cut forecasts for oil demand again as the group and its allies prepare to weigh up whether they can continue gradually restoring halted supplies. The Organization of Petroleum Exporting Continue Reading
After a week of contentious OPEC+ discussions, in which the UAE played a key role, it appears that the Abu Dhabi National Oil Company (ADNOC) is now aggressively pursuing market Continue Reading
Oil prices are set for a volatile start to the new year, as the next OPEC+ group meeting on production policy is expected to be set for the first trading Continue Reading
OPEC and its allies in November pumped their most crude oil since implementing historic production cuts in May, the latest S&P Global Platts survey found, driven largely by Libya’s brisk Continue Reading
OPEC+ has finally managed to reach a production cut agreement after several days of increased internal dissent. In its statement, the group reiterated a continued commitment to a stable market, Continue Reading
Another month, another OPEC “crisis.” It’s the usual problem: The cartel, meeting in Vienna this week, can’t agree on how to balance production with price. The Saudi-led oil exporters, boosted Continue Reading
The 500,000 b/d production increase OPEC and its partners are planning for January will be divvied up proportionally, with Saudi Arabia and Russia, the two largest members, each allowed to Continue Reading
