Healthier global economic growth in 2020 is expected to lead to higher oil demand growth this year, OPEC said in its closely-watched Monthly Oil Market Report (MOMR) on Wednesday. OPEC Continue Reading
OPEC+ members will remain united in their stewardship of the oil market, whether or not their current production cuts are extended beyond their currently scheduled March expiry, OPEC Secretary General Continue Reading
OPEC not only continued to cut its crude oil production in December 2019, but it also managed to reach its deeper-cut target for Q1 2020 a month earlier than planned, Continue Reading
Global oil markets will remain well supplied this year, with a possible overhang of some 1 million bpd, the head of the International Energy Agency, Fatih Bitol, told Reuters. “Non-OPEC Continue Reading
OPEC pared its crude oil production by 100,000 b/d in December, the latest S&P Global Platts survey finds, putting the bloc under its new, more-stringent quotas a month early. OPEC Continue Reading
Having exited the deal, Russia will be able to overcome stagnation in oil production, which threatens to become the longest since Soviet times. Despite a 9 percent decrease, Urals spot Continue Reading
OPEC+ officials say they see no need to reverse their production cuts in the face of heightened geopolitical tensions in the Middle East, with UAE energy minister Suhail al-Mazrouei declaring Continue Reading
OPEC’s crude oil production further declined in December as the cartel’s leader Saudi Arabia continued to lead by example cutting much more than required and as the biggest laggards in Continue Reading
OPEC and its allies thought they’d be facing a potential crisis of oversupply in the oil market in the early goings of 2020, but instead the assassination of Iranian General Continue Reading
OPEC and non-OPEC allies, including Russia, might consider ending their oil output curtailment deal next year in order to preserve market share and implement projects, according to Russian energy minister Continue Reading
