Major crude oil producers have spare capacity and are likely to boost supplies following President Joe Biden’s visit to the Middle East, a senior U.S. energy envoy said on Sunday. Continue Reading
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. OPEC producers will need to Continue Reading
Europe needs to drastically slash natural gas consumption in the next few months to prepare for what is likely to be “a long, hard winter,” the head of the International Continue Reading
The OPEC Monthly Oil Market Report (MOMR) for July 2022 was published recently. The last month reported in most of the OPEC charts that follow is June 2022 and output Continue Reading
High fuel prices is beginning to weigh on consumption. The IEA has slashed its demand forecast, revising down its estimates by 100,000 bpd. “Higher prices and a deteriorating economic environment Continue Reading
The global economic outlook remains extremely uncertain, the head of the International Monetary Fund said on Wednesday, warning that further disruption in the natural gas supply to Europe could plunge Continue Reading
The G7 idea to place a price cap on Russian oil should include a cap on the prices of gasoline and diesel, too, Fatih Birol, Executive Director of the International Continue Reading
The ten OPEC producers in the OPEC+ pact pumped 24.8 million barrels per day (bpd) of crude oil in June, OPEC data showed on Tuesday, with production falling 1 million Continue Reading
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen inside its headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/ World demand growth to slow to Continue Reading
The head of the International Energy Agency said on Tuesday the G7 proposal to impose a price cap on Russian oil should include refined products as well. The Group of Continue Reading
