OPEC+ is responding to the oil market’s collapse with an urgency never seen before. The alliance’s program of production cutbacks this month is well on the way to trimming 9.7 million Continue Reading
All OPEC data in the charts below are from the OPEC Monthly Oil Market Report. The data is through April and is in thousand barrels per day. OPEC 13 crude Continue Reading
The outlook for global oil markets has “improved somewhat,” with demand a little stronger than expected and supply reined in by a brutal price crash, the International Energy Agency said. Continue Reading
The oil market may start to rebalance quicker than originally anticipated, with the International Energy Agency Thursday pointing to deeper crude production cuts from OPEC+, US output falling faster than Continue Reading
Better than expected mobility in OECD countries and the gradual easing of lockdown measures led to an upward adjustment of 3.2 mb/d to our global 2Q20 demand number; but it Continue Reading
OPEC would have to nearly halve its crude oil production in the second quarter to balance the market, according to the organization’s latest analysis, as the COVID-19 outbreak continues to Continue Reading
Oil producers may need to exert more efforts to lessen the coronavirus impact on the oil market because demand is not expected to recover quickly, given the amount of surplus Continue Reading
Oil prices rose on Tuesday after OPEC’s de facto leader, Saudi Arabia, said it would increase supply curbs in June, while other members of the oil-producing group said they want Continue Reading
If you want to know where OPEC’s production is heading, one needs only to look at their next month’s OSP, particularly to its largest market, Asia. This week, Saudi Arabia Continue Reading
Highlights Bloc pumped 30.79 million b/d in April Saudi Arabia, UAE, Kuwait hit record highs OPEC+ deal imposes tough quotas in May London — OPEC turned up the taps in Continue Reading
