OPEC
OPEC Articles
Oil industry analysts at IHS Markit forecast the global over-production of crude will amount to 14 million barrels a day in the second quarter. About that much again is expected to go into storage.
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The International Energy Agency on Wednesday said that global oil demand would decline by 29 million barrels a day next month and end the year down by 2.7 million barrels a day.
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An agreement among the Saudis, the Russians, and the Americans over the weekend will lead to lower crude production beginning next month and, producers hope, higher prices.
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A video teleconference Thursday morning is expected to cut up to 10 million barrels from global crude oil production. Will that be enough to push crude prices higher?
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The members of OPEC along with Russia and others are expected to meet Monday to discuss reducing crude production by up to 10 million barrels a day. The United States may not be present in person but...
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As Russia and Saudi Arabia ramp up crude production, U.S. shale producers face dangerous days ahead and pressure is building elsewhere as well.
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OPEC and its non-OPEC members (OPEC+) have failed to agree on further cuts to oil production as a response to the slowdown in the global economy due to the coronavirus outbreak. Russia now looks like...
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The International Monetary Fund has a new study on the impact of declining demand for oil on the economies of six Persian Gulf nations. Continuing to depend on revenue from oil sales threatens the...
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The coronavirus outbreak in China has reduced demand for oil in the country by more than 4 million barrels a day and chopped 15% from the price of crude. OPEC+ wants to drive the price higher for all...
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Recent geopolitical events in the Middle East caused world oil prices to spike but the effect was soon reversed. The overall balance in global oil supply and demand should continue at least through...
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The easing of trade tensions between the United States and China is expected to lift global economic growth in 2020. OPEC expects demand for oil to put a strain on supplies, raising prices for the...
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Saudi Arabia and Kuwait are expected to sign an agreement on Tuesday that could restart about 500,000 barrels a day of crude oil production.
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In its December report, the International Energy Agency forecasts that the recently announced OPEC+ production cuts will not be enough to reduce supplies. Based on futures trading, oil markets appear...
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OPEC and its partners have agreed to cut an additional 500,000 barrels a day of crude oil production during the first quarter of 2020. The reduction is not likely to make much difference to oil...
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OPEC is expected to announce that the cartel will slash an additional 500,000 barrels a day from production, lowering daily global crude oil supply by 1.7 million barrels a day.
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