IMF: Nearly all Mideast economies hit by pandemic recession
The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Continue Reading
OPEC+ Is On The Brink Of A Crisis
The OPEC+ member countries are on the brink of a financial crisis if the latest assessments of the International Monetary Fund (IMF) are accurate. The IMF has presented a very Continue Reading
OPEC+ Faces Growing Pressure to Change Course as Ministers Meet
When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once Continue Reading
OPEC Oil Production for September 2020
Data for the OPEC charts below are from the OPEC Monthly Oil Market Report and is in thousand barrels per day. All data is through September 2020. There was little Continue Reading
OPEC+ Discusses Stalled Demand Recovery, Return Of Libyan Oil
A panel of the OPEC+ group is discussing on Thursday the current major downside risks to oil prices—the return of oil supply from Libya and the rising coronavirus cases that Continue Reading
OPEC+ confronts bearish oil outlook, as talk of extending output cuts grows
Highlights Barkindo says global oil demand ‘still looking anemic’ Monitoring committee meets Oct 19, catch-up cuts in focus Market risks ‘skewed to the downside,’ OPEC+ analysis says London — With Continue Reading
5 Major Takeaways From The IEA’s World Energy Outlook 2020
A few years back, the fossil fuel sector was doing just fine while renewable and alternative energy investments were considered a wildcard because the sector was regarded as unchartered territory. Continue Reading
Russia: OPEC+ To Relax Oil Production Cuts Despite Second Wave
The OPEC+ alliance is optimistic that it will be able to gradually ease production cuts from January as planned, despite surging coronavirus cases in many countries, Russia’s Energy Minister Alexander Continue Reading
IMF envisions a sharp 4.4% drop in global growth for 2020
The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a Continue Reading
China Growth Limits Global Economic Damage From Pandemic, IMF Says
Stocks are booming while companies shed millions of workers from payrolls. WSJ explains why the stock market seems disconnected from economic reality in the U.S. The global economic collapse caused Continue Reading