The International Energy Agency Thursday slashed its oil demand forecast for 2020 by almost 500,000 b/d and said demand will contract for the first time in a decade during the Continue Reading
OPEC slashed on Wednesday its global oil demand growth forecast for 2020, expecting the coronavirus outbreak to weigh heavily on fuel demand in the world’s oil demand growth driver, China. Continue Reading
Russia’s energy minister Alexander Novak held a series of meetings Wednesday, first with his new Kazakh counterpart and later with Russian oil producers, as the country moves towards a decision Continue Reading
Russia is still reviewing the recommendation of the OPEC+ technical panel for additional cuts of 600,000 bpd in response to the slump in oil demand over the coronavirus outbreak, Russian Continue Reading
The technical panel of the OPEC+ group recommended extending the oil production cuts agreed last December to the end of 2020, the current president of OPEC, Algeria’s oil minister, told Continue Reading
OPEC remains hostage to Russia’s reluctance, with plans still in limbo on instituting deeper production cuts to ward off the Wuhan coronavirus’ impact on oil prices. Receive daily email alerts, Continue Reading
OPEC saw its crude oil production dip by nearly 500,000 bpd in January from December, overcomplying with the collective cut, the monthly S&P Global Platts survey showed on Friday, but Continue Reading
After deliberations, Russia appears set to support Saudi Arabia in the push for deeper production cuts. OPEC’s Joint Technical Committee met on Tuesday, and it was only supposed to be Continue Reading
Azerbaijan energy minister Parviz Shahbazov said it’s unlikely the OPEC+ coalition of oil producers will move up their meeting that’s scheduled for early March. Receive daily email alerts, subscriber notes Continue Reading
US equities recorded timid gains on Thursday, while stocks in Asia edged lower on renewed anxieties about the spreading coronavirus as a Chinese doctor in Wuhan was reported dead and Continue Reading
