Browsing Tag

OPEC

The oil market starts to work – finally!

The consequence of Covid-19 on oil products, according to Professor Samuele Furfari*. In March 2020, for geopolitical reasons, Russia refused to go on with Saudi Arabia to adjust, along the rule of what is known as the OPEC+ deal, their

Oil market optimism is entirely misplaced

By Cyril Widdershoven for Oilprice.com Optimism is supposedly back in oil markets, with the Global Research team at Bank of America lifting its oil price forecast for this year and next as demand recovers from coronavirus-linked

Oil markets may not fully recover until 2022

By Nick Cunningham for Oilprice.com Oil demand may not recover to pre-pandemic levels until 2022 at the earliest, according to a new report from the International Energy Agency (IEA). The surplus of crude oil sloshing around the

Outlook for oil remains grim despite 90% rally

WTI rose almost 90 percent last month, which is the strongest monthly increase in the U.S. benchmark price ever recorded. Naturally, the news has been cause for joy among those rooting for higher oil prices. But should it? It is true

Oil jittery as Saudi Arabia-Russia talks delayed

Global oil prices remain on edge after Saudi Arabia and Russia postponed a meeting about a deal to cut output as the virus pandemic hits demand. The two countries have been locked in an oil price war for the last month. Traders are…

Don’t believe the oil bulls

By Nick Cunningham of Oilprice.com The world surplus could reach 20 million barrels per day (mb/d) in the next few weeks, threatening not only to top off storage tanks everywhere, but to crash prices even further and shut in oil…

Russia to OPEC – deeper oil cuts won’t work

This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will be, Russia’s deputy energy minister said in an interview with Reuters…

Before OPEC meeting, Russia is cagey about more oil cuts

With a critical meeting of the Organization of Petroleum Exporting Countries (OPEC) just days away, the cartel's most crucial ally, Russia, remains cagey about its willingness to cut oil production to buoy prices hit by the coronavirus…

Reuters: Coronavirus hits demand for oil, energy

A fast-spreading coronavirus in China has sent shockwaves through global energy markets, prompting OPEC and allied producers to consider deepening crude supply curbs as Asia’s largest oil refiner has slashed over a tenth of its output.…

Oil prices tread water as market eyes global risks

Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some support. Brent…

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