Oil Demand Is Recovering Despite Vaccination Hiccups, IEA Says
A year after the pandemic and a price war sparked one of the weakest months in history for oil prices, the global energy market is well on its way to recovery, Continue Reading
IEA hikes world oil demand forecast as economic recovery gains pace
The International Energy Agency has sharply raised its world oil demand estimate for 2021, pointing to further signs that the global economy is recovering faster than previously expected, particularly in Continue Reading
OPEC raises 2021 oil demand forecast with more supply on the way
About face in 2021 demand outlook OPEC+ alliance set to add more than 2 mil b/d Global stocks 29 million barrels above 5-year average OPEC has increased its oil demand Continue Reading
OPEC+ bolsters output by 450,000 b/d in March despite strong compliance: Platts survey
Crude oil production from OPEC and its allies rose by 450,000 b/d in March, the latest S&P Global Platts survey found, as Russia and Iraq pumped well above their agreed Continue Reading
OPEC+ bolsters output by 450,000 b/d in March despite strong compliance
Crude oil production from OPEC and its allies rose by 450,000 b/d in March, the latest S&P Global Platts survey found, as Russia and Iraq pumped well above their agreed Continue Reading
Saudi Minister Confident that OPEC+ Made Right Output Decision
Saudi Arabia remains confident that an OPEC+ agreement to increase oil production over the next three months was the right move, said its energy minister. “It’s still a good decision,” Prince Continue Reading
Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts
Daily rates for smaller oil tankers have started to recover after OPEC+ and Saudi Arabia announced they would gradually add around 2 million barrels per day (bpd) of crude production Continue Reading
Optimism Grows Over Oil Demand Recovery
OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production. OPEC, Russia, and their Continue Reading
EIA Increasingly Optimistic About Oil Demand Growth
A stronger global economy this year is set to accelerate oil demand growth to 5.5 million barrels per day (bpd), the U.S. Energy Information Administration (EIA) said in its Short-Term Continue Reading
IMF forecasts stronger recovery for world economy
The International Monetary Fund is now forecasting a stronger economic recovery this year and next. The IMF has upgraded both its UK and global forecasts compared with what it projected Continue Reading