The rapidly spreading coronavirus Delta variant and its impact on the global economy mean the world will consume less oil this year than previously thought, the International Energy Agency said Continue Reading
Highlights Global demand fell 120,000 b/d in July on setbacks in Asia Lowers 2021 demand growth estimate, ‘call’ on OPEC Non-OPEC+ supply growth estimate lowered for 2021 The International Energy Continue Reading
Conflicts and major disagreements within OPEC usually go unnoticed as member states use consultation and decision-making mechanisms that prevent a public mess. The UAE’s recent decision to do the unexpected Continue Reading
U.S. President Joe Biden’s administration on Wednesday urged OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to the global Continue Reading
President Joe Biden has pledged to wean the U.S. off of fossil fuels, and never has that call been more urgent than now, with United Nations-backed scientists warning of a point of Continue Reading
Highlights Easing OPEC+ quotas squeeze Iran’s market share Iran’s oil hopes rest on stalled nuclear deal talks New Iranian president will be inaugurated Aug. 5 Iranian President-elect Ebrahim Raisi takes Continue Reading
OPEC oil output rose in July to its highest since April 2020, a Reuters survey found, as the group further eased production curbs under a pact with its allies and Continue Reading
When the International Energy Agency released its Roadmap to Net Zero report, OPEC slammed it as “destabilizing.” Russia said the IEA’s plan could push oil to $200 per barrel. Even Continue Reading
OPEC—as well as the entire energy industry—should be thanking Saudi Arabia for its “magnificent” job in managing their production during the Covid-19 pandemic, according to Robert Yawger, executive director of Continue Reading
The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a Continue Reading
