Monday, November 17, 2025
OPEC oil prices

OPEC Downgrades 2020 Price Expectation by $20 per Barrel

OPEC’s annual report sees its oil reference point at $60 per barrel in 2020 The Organization for Petroleum Exporting Countries released its annual World Oil Outlook Tuesday, lowering its working assumption for oil prices moving through the end of the decade. OPEC sees its reference basket (ORB) price averaging $40 per barrel in 2016, and increasing $5 per year through

The Fuel Mandate that Could Sway Refineries’ Appetites to Lighter Crude

International Maritime Organization legislation looks to lower emissions from ships to 0.5% from 3.5% by 2020 A push for cleaner fuels in the world’s maritime industry could drastically change the appetite of the world’s refineries, and the producers of heavy crude oil. By 2020, ships around the world will have to cut their sulfur emissions to 0.5% from 3.5% currently,