Saudi Arabia’s de facto leader, Crown Prince Mohammed Bin Salman, and Russian President Vladimir Putin urged other OPEC+ oil producers to stick with agreed production cuts, as energy prices come Continue Reading
Oil demand is projected to increase from nearly 100 million barrels per day in 2019 to around 109 MMbpd in 2045, according to OPEC’s latest World Oil Outlook report. Oil Continue Reading
OPEC expects global oil demand will exceed the pre-pandemic levels in 2022 and grow steadily until the late 2030s, when it will begin to plateau, the cartel said on Thursday, Continue Reading
The coronavirus pandemic will slow the pace of refinery expansions, but the market will still see significant overcapacity in the years ahead, OPEC said Oct. 8 in its latest long-term Continue Reading
OPEC has for the first time forecast the peak in global demand, estimating that the world’s thirst for oil will stop growing in about 20 years. Receive daily email alerts, Continue Reading
OPEC expects to emerge from the pandemic with a greater share of global oil sales, after 2020’s price downturn battered rivals in the U.S. and elsewhere. The Organization of Petroleum Continue Reading
OPEC and its allies sharpened their output quota compliance to 99% in September, led by the Gulf states, but discipline from Russia and some African producers continued to slip, the Continue Reading
Opec expects oil demand to keep growing for the next two decades, in contrast to large segments of the energy sector that believe a peak in consumption is close. The research Continue Reading
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
OPEC’s crude output held steady last month as the United Arab Emirates pulled production back sharply in atonement for recent months of oversupply. The UAE slashed by 310,000 barrels a day, Continue Reading
