OPEC Mulls Extending Oil Production Cuts Through End-2020
OPEC members are discussing a potential extension of the oil production cuts through the end of 2020, an OPEC source told Russian news agency TASS on Friday. Talks are at Continue Reading
Are US Anti-OPEC Efforts Fading?
U.S. efforts to rein in OPEC’s influence over global oil markets are losing momentum as the Trump administration takes a wait-and-see approach to energy prices. While supporters of a bill Continue Reading
IMF trims global growth forecast as Davos delegates gather
The IMF has trimmed its forecasts for global economic growth this year, casting a shadow over the opening of the World Economic Forum in the Swiss resort of Davos. Organizers of Continue Reading
OPEC, IEA or EIA Completely Wrong in 2020 Oil Market Analysis
Somebody big has got their analysis of the 2020 oil market flat wrong. That’s the bottom line from a comparison of supply-and-demand forecasts provided by OPEC, the International Energy Agency Continue Reading
IMF Cuts Saudi Arabia’s Growth Outlook Due To OPEC+ Oil Cuts
Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just three Continue Reading
IEA calls on oil, gas companies to accelerate energy transition efforts
The International Energy Agency on Monday called on oil and gas companies to accelerate efforts to help the transition to cleaner energies, while at the same time conceding that investment Continue Reading
Putin’s Powerplay Could Jeopardize The OPEC Deal
In classic Putin style, the Russian president is now trying to push through reforms that would weaken the future presidency at the expense of the future prime ministerial post in Continue Reading
IEA sees well-supplied oil market despite slower shale growth
The oil market is likely to stay well supplied in the near term with oil stocks growing in the first half of 2020 despite deeper production cuts from the OPEC Continue Reading
OPEC December 2019 Oil Production Data
All OPEC data for the charts below are from the OPEC Monthly Oil Market Report https://momr.opec.org/pdf-download/ OPEC crude oil production continued to slide in December. OPEC production was down 161,000 Continue Reading
IEA sees well supplied oil market despite slower US supply growth
The oil market is likely to stay well supplied in the near term with oil stocks growing in the first half of 2020 despite deeper production cuts from the OPEC Continue Reading