OPEC+ Is On The Brink Of A Crisis
The OPEC+ member countries are on the brink of a financial crisis if the latest assessments of the International Monetary Fund (IMF) are accurate. The IMF has presented a very Continue Reading
OPEC+ Faces Growing Pressure to Change Course as Ministers Meet
When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once Continue Reading
OPEC Oil Production for September 2020
Data for the OPEC charts below are from the OPEC Monthly Oil Market Report and is in thousand barrels per day. All data is through September 2020. There was little Continue Reading
OPEC+ Discusses Stalled Demand Recovery, Return Of Libyan Oil
A panel of the OPEC+ group is discussing on Thursday the current major downside risks to oil prices—the return of oil supply from Libya and the rising coronavirus cases that Continue Reading
OPEC+ confronts bearish oil outlook, as talk of extending output cuts grows
Highlights Barkindo says global oil demand ‘still looking anemic’ Monitoring committee meets Oct 19, catch-up cuts in focus Market risks ‘skewed to the downside,’ OPEC+ analysis says London — With Continue Reading
Russia: OPEC+ To Relax Oil Production Cuts Despite Second Wave
The OPEC+ alliance is optimistic that it will be able to gradually ease production cuts from January as planned, despite surging coronavirus cases in many countries, Russia’s Energy Minister Alexander Continue Reading
OPEC Report Reflects Negative Sentiment In Oil Markets
OPEC has again revised down world oil demand in 2021, according to the cartel’s latest Monthly Oil Market Report, and combined with OPEC’s consistent production quota laggards and rising U.S. Continue Reading
UAE Says OPEC+ Set To Ease Oil Production Cuts As Planned
The OPEC+ group plans to taper the ongoing oil production cuts as of January 2021, as initially agreed, the energy minister of OPEC’s third-largest producer, the United Arab Emirates (UAE), Continue Reading
OPEC+ still plans to taper oil output cuts to 5.8 million b/d after 2020: UAE minister
OPEC and its allies are still intending to taper their crude oil production cuts by almost 2 million b/d at the start of 2021, UAE energy minister Suhail al-Mazrouei said Continue Reading
OPEC raises 2020 oil demand forecast as China shows signs of improvement
OPEC raised its global oil demand forecast for 2020 by 60,000 b/d from last month to 90.29 million b/d on Oct. 13 as it sees an improvement in China’s demand Continue Reading