Oil drops on dollar strength and OPEC+ supply expectations

Oil prices fell as bond price rout led to gains in the U.S. dollar while crude supply is expected to rise in response to prices climbing above pre-pandemic levels

OPEC, US oil firms expect subdued shale rebound even as crude prices rise

OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to decline by 140,000 barrels per day to 7.16 million bpd

Oil extends losses as Texas prepares to ramp up output

Oil prices fell from recent highs for a second day on Friday as Texas energy firms began to prepare for restarting oil and gas fields shuttered by freezing weather

IEA says oil market fragile, cites virus restrictions

The International Energy Agency (IEA) warned the world oil market remains fragile, despite a recent recovery in prices, as tighter restrictions are imposed to curb more contagious coronavirus variants

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

OPEC+ sees oil market deficit despite weaker demand

OPEC+ expects deep output cuts will keep the global oil market in deficit throughout the year, even though the producer group has revised down 2021 demand growth

OPEC Jan oil output rises for 7th month, Nigeria limits gain

The 13-member Organization of the Petroleum Exporting Countries is pumping 25.75 million barrels per day in January, the survey found, up 160,000 bpd from December and a further increase from a three-decade low reached in June

OPEC+ compliance with oil cuts at 99% in December

OPEC+ compliance with oil production cuts in December reached 99%, two sources from the producer group told Reuters. The figure is slightly below November’s 101%

OPEC sees US shale output recovering further on oil rally

The outlook for US shale oil is slightly more “optimistic” due to rising prices and output will recover further in the second half of 2021, OPEC said, in a sign its policy of cutting output is helping rivals pump more

Saudi voluntary oil cut to help with low demand in first quarter

Saudi Arabia’s voluntary oil production cut is set to help the oil market navigate through seasonally low oil demand during the first quarter, OPEC’s secretary general told an industry event