OPEC+ to meet amid concern about rising virus cases
OPEC and its allies led by Russia will meet to discuss production policy amid upbeat forecasts for energy demand despite concerns about new coronavirus spikes in India, Brazil and Japan
Tag: OPEC
OPEC says NOPEC bill could put US overseas assets
U.S. assets and personnel overseas could be at risk if the country decided to pass a bill against OPEC, known as NOPEC, the head of the Organization of the Petroleum Exporting Countries told member states
Saudi crude exports drop to eight-month low in February
Saudi Arabia’s crude oil exports fell to their lowest in eight months in February, the Joint Organisations Data Initiative (JODI) said, as the world’s biggest oil exporter voluntarily capped output to support oil prices
Russia’s Novak says OPEC+ countries will gradually restore oil output in May-July
Russian Deputy Prime Minister Alexander Novak added that Russia’s energy ministry was ready to support export curbs on oil products in order to bolster the domestic market
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
Oil rebounds on robust economic data
Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate
Saudi wants OPEC+ to extend oil cuts into May-June
Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns
Goldman expects OPEC + to keep oil production unchanged in May
Goldman Sachs expects OPEC + to keep its oil production unchanged for May, when the group meets next week, and to continue making “still the big rise of 3.4 million barrels per day that is expected. for September”
U.S. oil activity jumps as executives remain wary of OPEC, Biden
Activity and spending in U.S. oil fields is soaring this year as the industry recovers from last year’s pandemic-driven oil price crash, according to cautiously optimistic energy company executives polled by the Federal Reserve Bank of Dallas in a survey
As Europe tightens lockdowns, OPEC+ to keep oil taps tight -sources
With oil prices making steady gains earlier this year, OPEC and other producers had hoped to ease output cuts, but industry sources say a fresh wave of lockdowns around the world threatens to tear up those plans