Extending Production Cuts Would Be ‘Suicidal’ For OPEC
OPEC+ will hold a committee meeting this week to assess the status of the oil market and decide on its next steps. For now, the group appears ready to begin Continue Reading
OPEC Readies Next Move in Bid to Avoid Oil Taper Tantrum –
Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the Continue Reading
Improved demand outlook calls for easing of OPEC+ oil production cuts: sources
Output cuts set to roll back to 7.6 million b/d in August Compensation cuts for May, June overages will add to total Middle East summer air conditioning to add to Continue Reading
IEA Sees Lower-Than-Previously Expected Demand Loss This Year
Global oil demand is set to crash by 7.9 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Friday, but this forecast is slightly more Continue Reading
IEA warns rise in Covid-19 cases ‘casting a shadow’ over oil recovery
The resurgence of coronavirus cases in several parts of the world is “casting a shadow” over the oil market’s nascent recovery, the International Energy Agency has warned. “In some countries, [the] Continue Reading
IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook
The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA Continue Reading
IEA Global Oil-Demand Forecast: Coronavirus Risk for OPEC+
The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the Continue Reading
Coronavirus’s Worst Impact on Oil Demand Has Passed, IEA Says
The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the Continue Reading
OPEC+ cuts deeper in June on pressure to boost oil market recovery: Platts survey
OPEC slashed its crude output in June to a three-decade low, according to an S&P Global Platts survey, as the bloc and its allies, including Russia, continued their campaign to Continue Reading
Russia Expects OPEC+ To Ease Cuts Next Month
OPEC+ is not discussing or planning changes to its production cut agreement, which should see the oil producers ease the cuts in August, Russia’s Energy Minister Alexander Novak said at Continue Reading