The oil market has only limited capacity to handle extra supply in the coming months given Libya’s potential production increases, OPEC+ continuing to ease back its quotas, and the uncertainty Continue Reading
OPEC has again revised down world oil demand in 2021, according to the cartel’s latest Monthly Oil Market Report, and combined with OPEC’s consistent production quota laggards and rising U.S. Continue Reading
The OPEC+ group plans to taper the ongoing oil production cuts as of January 2021, as initially agreed, the energy minister of OPEC’s third-largest producer, the United Arab Emirates (UAE), Continue Reading
OPEC and its allies are still intending to taper their crude oil production cuts by almost 2 million b/d at the start of 2021, UAE energy minister Suhail al-Mazrouei said Continue Reading
OPEC raised its global oil demand forecast for 2020 by 60,000 b/d from last month to 90.29 million b/d on Oct. 13 as it sees an improvement in China’s demand Continue Reading
Saudi Arabia’s de facto leader, Crown Prince Mohammed Bin Salman, and Russian President Vladimir Putin urged other OPEC+ oil producers to stick with agreed production cuts, as energy prices come Continue Reading
Despite some uptick in consumption in recent months, the world’s demand for natural gas is still set to see its biggest drop on record in 2020, the International Energy Agency Continue Reading
After recovering from the “exceptional ferocity” for the COVID-19 crisis, world oil demand will rise from 97.9 million b/d in 2019 to 104.1 million b/d in 2040. Compared to last Continue Reading
To maintain ‘downward’ pressure on spot prices Buyers to seek concessions in new contract talks IEA points to ‘sensitive’ global LNG balance London — Global gas markets are expected to Continue Reading
International Energy Agency. Global natural gas demand is forecast to fall 3% year-on-year (y-o-y) or about 120 bcm in 2020, according to the International Energy Agency (IEA)’s new report, Global Continue Reading
