OPEC cuts 2021 oil demand forecast again as virus cases rise

World oil demand will rebound more slowly in 2021 than previously thought as coronavirus cases rise, OPEC said, adding to headwinds faced by the group and its allies in balancing the market

Pandemic could delay energy demand recovery to 2025

A slow economic recovery from the pandemic threatens to delay a full rebound in world energy demand to 2025, the International Energy Agency said

Oil Inventories Rose by 951,000 Barrels

US oil stockpiles rose last week, intensifying worries about the demand outlook at a time when traders weigh up weather-related supply disruptions, which have shut-in production in the Gulf of Mexico

Saudi Arabia oil exports at 6.1 million bpd

Saudi Arabia shipped 6.1 million barrels per day (bpd) of crude oil in September, slightly above August levels, and kept output steady at 8.974 million bpd last month, an industry source familiar with the matter said

Libya’s oil output rises to 270,000 bpd as exports ramp up

Libya’s oil output has risen to 270,000 barrels per day (bpd) as the OPEC member ramps up exports following the easing of a blockade by eastern forces

Iraq oil minister expects deal to up oil exports

Iraqi Oil Minister Ihsan Abdul Jabbar expects to reach an agreement soon with the OPEC+ group over increasing Iraq’s crude oil exports, state news agency INA stated

OPEC watching Libyan oil restart closely

OPEC and its allies are watching efforts to resume oil output in Libya very closely, OPEC sources said, although producers should wait to see if there is a sustainable restart before reacting

OPEC+ panel to meet amid oil price decline

OPEC and allies, led by Russia, are scheduled to hold an online meeting to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook

Venezuela’s PDVSA prepares to boost oil blending, imports Iranian diluents

Venezuela’s state-run PDVSA is preparing to recover a portion of the oil output lost in recent months by boosting crude blending operations at its main producing region, the Orinoco Belt

OPEC sees steeper oil demand drop as virus remains challenging

World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, OPEC said, potentially making it harder for the group and its allies to support the market