Oil Demand Is Headed for Record Rebound in 2021
The coronavirus pandemic will hammer global growth and oil demand this year, but supply cuts from producers and a record rebound in demand next year will help to rebalance the Continue Reading
OPEC+ Deal Will Bring Oil Back to ‘Normal’ as Producers Commit
Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the oil minister from the United Arab Emirates. When energy markets Continue Reading
The End Of The OPEC Deal Could Be The Start Of A New Oil Price War
Few markets have been hit harder by coronavirus than United States shale. While global oil prices as a whole have taken quite a beating from a fall in oil demand, Continue Reading
OPEC+ may be able to ramp up oil production in 2021: IEA
Faster oil market rebalancing could present OPEC and other producers with an opportunity to ramp production in 2021, the International Energy Agency said in its latest monthly report, as it Continue Reading
OPEC Gets Chance to Gain Upper Hand in Long Battle With Shale
Once the global oil market emerges from the coronavirus crisis, it may be greeted by a surprising change: greater dependence on crude from OPEC. For the time being, the Organization of Continue Reading
Monthly OPEC decisions not good for the market: Oman oil minister
Deciding the OPEC+ oil production cuts on a monthly basis during the oil price and COVID-19 crises undermines market stability, Oman’s oil minister Mohammed Al-Rumhy has told S&P Global Platts. Continue Reading
OPEC+ monthly talks plan meets resistance with OSP timing a concern: sources
Several delegates within the OPEC+ alliance have voiced concerns over plans for the group to meet monthly to assess production levels, casting doubt on a cornerstone of its strategy to Continue Reading
OPEC+ delivers 85% compliance on oil output cuts in May:
OPEC and its allies slashed almost one-fifth of their crude oil production in May, the first month of their landmark supply accord, according to the latest S&P Global Platts survey Continue Reading
Is OPEC’s No.2 Finally Complying With Output Cuts?
OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started Continue Reading
Mexico Bails On OPEC+ Deal
Non-OPEC Mexico, which was the surprise holdout in the OPEC+ meeting in April, bailed out of the group’s one-month extension of the record production cuts. But Mexico’s share of the Continue Reading