Will OPEC+ Extend the Cuts?
OPEC+ will, at the very least, extend production curbs beyond the March 2020 deadline. That’s according to Stephen Brennock, an oil analyst at PVM Oil Associates, who said failure to Continue Reading
Will The U.S. Shale Slowdown Save OPEC?
Russia and its OPEC partners in the production cut deal will take into account the slowing U.S. shale production growth at their December meeting to discuss the agreement, Russia’s Deputy Continue Reading
The OPEC Oil Price Jawboning Has Officially Begun
Oil prices showed some signs of life this week after reports suggested that OPEC+ might consider deeper production cuts at the December meeting in Vienna. Sources told Reuters that the Continue Reading
Russian Oil Boss Speaks Out Against OPEC+ Cuts
Lukoil’s chief executive Vagit Alekperov has joined Rosneft’s Igor Sechin in voicing his opposition to another extension of the OPEC+ oil production cut agreement, Reuters reports , citing Russian news Continue Reading
OPEC Forced To Consider Production Cuts As Bearish Pressure Mounts
OPEC will consider at its December meeting instituting even deeper production cuts, OPEC sources told Reuters today, even though not everyone in the group is complying to the existing production Continue Reading
IMF slashes global growth forecast on trade war fears
Global growth is set to fall to its slowest rate since the financial crisis this year, the IMF said on Tuesday, as it warned that the self inflicted wounds of Continue Reading
Global Economy on Course for Weakest Growth Since Crisis
“At 3% growth, there is no room for policy mistakes and an urgent need for policy makers to cooperatively de-escalate trade and geopolitical tensions,” Gita Gopinath, the IMF’s chief economist, Continue Reading
The IMF’s Latest Report Could Spell Disaster For Oil Markets
The International Monetary Fund slashed its global growth forecast once again, predicting economic growth will fall to its weakest rate since the financial crisis a decade ago. The IMF said Continue Reading
IEA Cuts Oil Demand Forecast as Economy Eclipses Saudi Attack
The International Energy Agency cut forecasts for growth in global oil demand, noting that fears of an economic slowdown are overshadowing the loss of supply during last month’s attack on Continue Reading
Russia: OPEC+ Deal Will Not Be Revised
OPEC and its Russia-led non-OPEC partners in the production cut pact are currently not discussing changing the terms of their agreement, Russian Energy Minister Alexander Novak said on Monday. The Continue Reading