Highlights Reiterates 2019 output forecast of 556-560 mil mt Russia committed to November output target Moscow — Russian energy minister Alexander Novak said Wednesday he wants new volumes of gas Continue Reading
Crude oil demand headed for 2019 decline, first time since 2009 IEA drops ‘call on OPEC’ estimate for 2020 to 28.9 million b/d Saudi Oct exports to China hit record Continue Reading
OPEC+ is facing a steep challenge as it prepares to gather in Vienna next month. Global oil supply could continue to rise at a rapid pace in 2020, surpassing the Continue Reading
All OPEC charts below were taken from the OPEC Oil Market Report . The data is in thousand barrels per day and is through October 2019 OPEC 14 bounced back Continue Reading
OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply Continue Reading
OPEC World Oil Outlook sees US tight oil peak in 2029 OPEC supplies needed to meet global demand: Barkindo 2040 demand forecast revised downward Vienna — OPEC’s share of the Continue Reading
Vienna — OPEC on Tuesday said it expects 2.1 million b/d of refining capacity to be shuttered through 2025 due to overcapacity, and another 5 million b/d of further closures Continue Reading
OPEC’s World Oil Outlook projects 12% demand rise by 2040 Fossil fuel bans would exacerbate energy poverty, OPEC says Renewables growing, but oil and gas to remain dominant fuels Vienna Continue Reading
OPEC’s crude oil production rebounded in October from multi-year-lows in September after top producer Saudi Arabia managed to recover supply lost in the mid-September attacks, more than offsetting unexpected production Continue Reading
OPEC’s top producer and de facto leader Saudi Arabia has informally asked Brazil to join the organization, Brazilian President Jair Bolsonaro said on Wednesday, adding that he would personally like Continue Reading
