Despite multilateral efforts to balance the oil market with managed production cuts, the situation in general still favors the supply side, the IEA said. The Organization of Petroleum Exporting Countries Continue Reading
The oil refinery in Warri, Nigeria, pictured in August 2015, has roared back to life after years of neglect. Nigeria and Libya have added 550,000 barrels a day of crude-oil Continue Reading
“There is no doubt that the oil market is moving in the right direction,” the Organization of the Petroleum Exporting Countries noted with satisfaction in its most recent bulletin published Continue Reading
The latest chapter of the “what will OPEC do next” saga unfolded on Thursday as reports emerged that the cartel and the non-OPEC producers led by Russia may discuss a Continue Reading
OPEC and non-OPEC nations meeting on Friday will discuss a possible extension of an oil supply cut deal to support prices and will consider monitoring exports to assess compliance. The Continue Reading
When OPEC and its allies gather this week, they’ll have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived. Crude Continue Reading
Lag in investment raises risk of tightened market: Atkinson IEA failed to foresee ‘technical ingenuity’ of U.S. shale A dearth of new investment in oil production is stoking a risk Continue Reading
The oil market has been awash in crude for more than three years, and OPEC has struggled to accelerate the rebalancing effort, but the world could be heading for a Continue Reading
Lag in investment raises risk of tightened market: Atkinson IEA failed to foresee ‘technical ingenuity’ of U.S. shale A dearth of new investment in oil production is stoking a risk Continue Reading
Global oil demand will climb this year by the most since 2015, the International Energy Agency said, amid stronger-than-expected consumption in Europe and the U.S. The IEA, which advises most Continue Reading
