OPEC’s Oil Revenues Set To Plunge To 18-Year Low
The low oil prices and the record OPEC+ production cuts are set to nearly halve the net oil export revenues of OPEC members this year compared to 2019, sending them Continue Reading
OPEC+ may consider deeper oil cuts if coronavirus lockdowns squeeze global economy: sources
Cloudy global economic prospects, along with a recent slide in oil prices, could prompt OPEC and its allies to ratchet back their production cuts to historic levels, sources told S&P Continue Reading
Rise In COVID Cases May Force OPEC To Do The Unthinkable
With the most recent round of coronavirus-inspired lockdowns in various parts of the world, OPEC may face its biggest challenge yet: cutting even more production . Would the cartel and Continue Reading
OPEC Poses Threat to Itself
OPEC’s effort to shore up world oil markets during the pandemic is facing a new threat — from the group’s own rising production. In the past few months, the resurgent Continue Reading
OPEC Members Rebel Over Production Cut Extension
While the oil market speculates on whether or not OPEC+ will ease its production cuts in January amid sluggish demand, rumors emerged on Thursday that the three biggest OPEC producers Continue Reading
Saudi Aramco: Oil Demand Too Weak To Ease OPEC+ Output Cuts
Global demand currently is not supportive for OPEC+ easing the oil production cuts on January 2021, Ibrahim Al-Buainain, president and chief executive of Aramco Trading, told Gulf Intelligence on Wednesday. Continue Reading
OPEC Chief Sees Still Anemic Oil Demand Recovery
Global economic and oil demand recovery is still anemic, OPEC Secretary General Mohammad Barkindo said on Monday, but noted that the cartel doesn’t see another plunge in demand like in Continue Reading
OPEC+ cut decision will reverberate in US oil patch, but Trump silent as election looms
As OPEC and its allies ruminate over whether to ease their collective production cuts at the end of the year, a very interested – though perhaps distracted by the US Continue Reading
OPEC+ Production Cuts Could Be Extended: Putin
Russia does not rule out the possibility that OPEC+ could extend its current 7.7 million barrels per day of production cuts into next year, according to Russian President Vladimir Putin Continue Reading
Will OPEC+ Decide To Extend Oil Output Cuts?
Oil markets retained strength over the past week despite many bearish factors influencing the global economy. COVID-19 cases spiked in Europe leading to new lockdown measures in France and the Continue Reading