Tag: CORONAVIRUS

OPEC sees world oil demand reaching pre-pandemic level in 2022

OPEC forecast that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India

IEA warns OPEC+ deadlock is bad news

The International Energy Agency warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation

US oil mergers surge as energy, share prices recover from pandemic

US oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, as rising energy and share prices led to larger oilpatch deals

Goldman says crude oil output path uncertain as OPEC+ talks cease

Goldman Sachs said the collapse of OPEC+’s oil output talks had introduced uncertainty into the prospects for output, but maintained its view that Brent crude would be around $80 a barrel this summer

Oil prices accelerate rise as OPEC+ calls off output talks

Oil prices rose, driven higher after OPEC+ nations called off talks on output levels, meaning no deal to boost production has been agreed

OPEC+ could add 2 million bpd oil to market by December

OPEC+ is moving towards gradually adding about 2 million barrels per day (bpd) to the oil market from August to December, as the group eases back on output curbs amid a recovering global economy and an oil price rally

OPEC bullish on oil market recovery but virus variants pose risk

OPEC sees a strong rebound in oil demand in the second half of 2021 with oil inventories shrinking but the producer group also sees coronavirus variants posing a risk to the recovery

OPEC bullish on oil market recovery but virus variants pose risk

OPEC sees a strong rebound in oil demand in the second half of 2021 with oil inventories shrinking but the producer group also sees coronavirus variants posing a risk to the recovery

Russia struggles to raise oil output despite price rally

Russian oil production has declined so far in June from average levels in May despite a price rally in oil market and OPEC+ output cuts easing

China’s Saudi oil imports plunge 21%

China’s imports from Saudi Arabia fell 21 percent in May from a year earlier but retained their top ranking among suppliers for a ninth month in a row, customs data showed