Oil rises to $67, heads for weekly gain on demand hopes

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month

EIA raises forecast for 2021 world oil demand growth

The US Energy Information Administration announced that it raised the forecast for 2021 world oil demand growth by 180,000 barrels per day (bpd) to 5.5 million bpd

OPEC expects most of 2021 oil demand recovery in second half

OPEC said a recovery in oil demand will be focused on the second half of the year as the impact of the pandemic lingers as a headwind for the group and its allies in supporting the market

OPEC oil output falls in February on Saudi additional cut

OPEC oil output fell in February as a voluntary cut by Saudi Arabia added to agreed reductions under a pact with allies ending a run of seven consecutive monthly increases

OPEC again cuts 2021 oil demand view, sees second half pickup

Demand will rise by 5.79 million barrels per day (bpd) this year to 96.05 million bpd, the Organization of the Petroleum Exporting Countries said in a monthly report

Brent breaks $60 a barrel on oil demand recovery hopes

The commodity climbed 1.26 percent to $60.19 a barrel — its highest since January last year — as asset markets rallied on the back of vaccine rollouts and slowing virus infections

OPEC ‘cautiously optimistic’ oil market will recover in 2021

OPEC’s secretary general said he was cautiously optimistic the oil market would recover this year from the slump in demand brought on by the coronavirus pandemic

IEA: Resurgence in COVID-19 cases slows oil demand rebound

Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said

EIA: US crude output to decline less than previously forecast in 2021

U.S. crude oil production is expected to fall by 190,000 barrels per day (bpd) in 2021 to 11.1 million bpd, the U.S. Energy Information Administration (EIA) said, a smaller decline than its previous forecast for a drop of 240,000 bpd