OPEC+ Compliance Continues To Exceed 100%
OPEC+ fully complied with the supply cuts in November that the group agreed on, two sources from the group told Reuters. OPEC+ is scheduled to meet on January 4 to Continue Reading
OPEC+ Plans To Meet More Frequently To Discuss Oil Market Balancing
OPEC+ will take a more hands-on approach to global oil markets now that it plans to meet more frequently, Bloomberg has reported , citing the leaders of the group, Saudi Continue Reading
Saudi and Russia show united front on OPEC+ strategy as Novak visits Riyadh
The OPEC+ group may prolong its current strategy to manage oil markets until the end of 2022 in order to keep speculators “on their toes”, Saudi energy minister Prince Abdulaziz Continue Reading
OPEC+ Will React Faster, Be More Hands-On With Oil Market
OPEC+ will react faster to changes and take a more hands-on approach with the oil market, thanks to its accelerated schedule of monthly meetings, according to Russia and Saudi Arabia, Continue Reading
OPEC MOMR, November 2020
This update reports data from the Monthly Oil Market Report (MOMR) published by OPEC on December 14, 2020. The latest data point in each chart presented is November 2020 and Continue Reading
OPEC President Says Group Cannot Rush Increases
The president of OPEC reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across Continue Reading
IEA Sees Crude Glut Enduring
The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Continue Reading
IEA Sees Crude Glut Enduring to End-2021 Amid Demand Strains
The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Continue Reading
IEA: Jet Fuel Will Continue Be A Drag On Oil Demand Recovery
Continued low demand for jet fuel will account for 80 percent of next year’s 3.1-million-bpd gap in oil demand compared to pre-pandemic levels, the International Energy Agency (IEA) said on Continue Reading
Oil demand to stay weak amid uncertainty over COVID-19 vaccine availability: IEA
The International Energy Agency modestly cuts its oil demand estimates for 2020 and 2021 despite a recent rally in crude futures, as the looming uncertainty over the efficacy, availability, and Continue Reading