IEA Releases Plan To Cut Oil Use By 2.7 Million Bpd
The International Energy Agency has released a 10-point plan aimed at reducing global oil consumption by as much as 2.7 million barrels daily. The focus of the measure that the Continue Reading
OPEC+ Oil Production Is 1 Million Bpd Lower Than Target Level
Compliance with OPEC+ output cuts jumps to 136% in February. For more than seven months now, OPEC+ has actually added lower volumes to the market than the projected 400,000 bpd Continue Reading
IEA urges OPEC+ to boost supply as diplomatic pressure for increases builds
Highlights Birol urges ‘good’ response at next OPEC+ meeting March 31 Japanese PM latest to talk with Saudi crown prince on output Birol says countries need to show they are Continue Reading
OPEC Update, March 2022
The OPEC Monthly Oil Market Report (MOMR) for March 2022 was published this week. The last month reported in each of the charts that follow is February 2022 and output Continue Reading
IEA: Large Scale Oil Supply Disruptions Are Looming
IEA: large-scale supply disruptions are increasingly likely as a result of sanctions on Russia. IEA: Global oil demand growth will decline due to a slowdown in economic growth. The IEA Continue Reading
IEA revises down global refinery throughput on reduced Russian runs
The International Energy Agency has revised lower its global refinery throughput estimates for this year following Russia’s invasion of Ukraine , in its latest monthly report March 16. Not registered? Continue Reading
OPEC: Inflation And Ukraine War Could Slow Oil Demand Growth
OPEC leaves oil demand growth forecast unchanged in its latest MOMR. War in Ukraine, quickly rising inflation may have an impact on short-term crude demand. The cartel still expects world Continue Reading
What Will Happen at the Next OPEC Meeting?
Kpler’s lead Americas oil analyst shares his thoughts. According to Matt Smith, Kpler’s lead Americas oil analyst, OPEC’s meeting at the end of the month is unlikely to yield any Continue Reading
IMF Head Says Russian Default No Longer an ‘Improbable Event’
Kristalina Georgieva A Russian sovereign default is no longer improbable, though it’s unlikely to trigger a global financial crisis, International Monetary Fund Managing Director Kristalina Georgieva said. With Russia and Continue Reading
G7 moves to end normal trade relations with Russia
The G7 nations said they would end normal trade relations with Russia on Friday as part of a series of new measures to inflict economic punishment on Moscow for its Continue Reading