OPEC Cuts 2021 Oil Demand Forecast
In this month’s report, OPEC revised downward its 2021 estimate due to lower-than-expected actual data for the first three quarters of the year In its closely watched Monthly Oil Market Continue Reading
IMF Cuts Global Growth Forecast Amid Supply-Chain Disruptions, Pandemic Pressures
When it comes to coffee beans, what happens in Brazil doesn’t stay in Brazil. In July and August, a bad frost hit the country’s coffee-producing region and analysts say Brazil’s Continue Reading
Platts: OPEC+ Is Producing Less Crude Than It’s Supposed To
OPEC+ is producing less oil than it is supposed to, a survey by Platts has revealed, as cited by Forex Live. The oil cartel was supposed to pump a combined Continue Reading
Middle East Oil Producers Set For $165B Current Account Surpluses
This year’s oil price rally will help Middle Eastern oil producers book current account surpluses of $165 billion in 2021, compared to current account deficits of $6 billion in 2020, Continue Reading
U.S. Likely to Ask OPEC for More Oil Supplies, Yergin Says
The U.S. is likely to ask OPEC member states to pump more crude to help ease a surge in energy prices, according to oil historian Daniel Yergin. “Joe Biden knows Continue Reading
Why OPEC Didn’t Boost Production By 800,000 Bpd
Concern that demand for oil may weaken in the future was one of the reasons OPEC+ didn’t add additional barrels OPEC+ members aren’t keen to derail the current oil price Continue Reading
IEA: Low-Carbon Hydrogen Needs Major Cost Cuts
The use of low-carbon hydrogen and ammonia in fossil fuel plants could be key to ensure security in electricity supply while the world is moving toward cleaner energy sources, the Continue Reading
INTERVIEW: Oil demand to grow ‘several more years’ without policy push: IEA’s Birol
Highlights ‘Closely monitoring’ gas, LNG markets amid record prices in Europe, Asia LNG helping Asia energy transition but not enough for net zero emissions A few million mt/year global hydrogen Continue Reading
OPEC+ Holds Both the Knife and the Cake
OPEC+ holds both the knife and the cake in the oil market, according to Rystad Energy. OPEC+ holds both the knife and the cake in the oil market, especially as Continue Reading
Oil steady ahead of OPEC+ supply policy meeting
Oil was steady on Monday ahead of a meeting by OPEC and its allies which may determine whether a recent rally in prices amid supply shocks and recovery from the Continue Reading