Global oil demand will rebound strongly in the second half of 2021, but the call on OPEC crude will be lower than previously expected, the producer group’s latest analysis showed, Continue Reading
When OPEC+ unveiled its bold move to tighten crude markets last week, the oil world was united in surprise. But on the merits of the plan, it’s starkly divided. The shock decision, Continue Reading
OPEC’s crude oil production fell by 650,000 barrels per day (bpd) in February, due to the extra cut from top producer and de facto leader Saudi Arabia, the cartel’s Monthly Continue Reading
Oil tanker owners and shipbrokers are set to suffer longer than expected from the massive OPEC+ production cuts after the coalition surprised the oil and tanker markets on Thursday by Continue Reading
Saudi Arabia and its OPEC+ allies shocked the oil market with a decision to keep supply in check, sending prices surging and adding inflationary pressure to the global economy as Continue Reading
Caution about the pandemic took the upper hand Thursday at a meeting of the OPEC oil cartel and allied countries, as they left most of their production cuts in place Continue Reading
OPEC and its allies appear intent on turbocharging the tightening of the oil market, agreeing to largely leave their hefty production cuts unchanged for April – including Saudi Arabia’s extra Continue Reading
OPEC and its allies kept oil-watchers guessing about their next move, after a day of preliminary talks offered few clues as to whether the market will get the April supply Continue Reading
Rystad Energy’s latest analysis indicates that OPEC+ could raise production by 1.3 million barrels per day in April and keep the market balanced. Rystad Energy’s latest analysis indicates that OPEC+ Continue Reading
OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices. There’s a widespread view within the group that the market Continue Reading
