LONDON – OPEC+ is now producing below its targets by a record 3.58 million barrels per day – about 3.5% of global demand – highlighting underlying tight supply in the oil market, even as recession fears drag oil prices …
World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the …
SINGAPORE – World gas demand is anticipated to achieve pre-pandemic ranges by early subsequent year because the financial system shrugs off pandemic woes, however spare refining capability is more likely to weigh on outlook, oil producers and merchants stated …
Goldman Sachs sees the oil price pullback as a buying opportunity and forecasts Brent crude reaching $80 per barrel this summer even as the recent rally in prices “takes a big breather.”
Oil prices are set to drop about …
Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executives of Saudi Aramco and Chevron Corp told an oil and gas conference on Tuesday.
The coronavirus pandemic last year wiped out a …
OSLO – The COVID-19 pandemic and a faster transition to renewable energy sources will have a permanent impact on global oil demand, Norway’s biggest independent energy consultancy Rystad predicted on Monday.
Global demand will likely peak in 2028 at …
Oil prices will be hemmed in the $40-45 per barrel range for the rest of the year, a Reuters poll showed on Friday, with analysts expecting a rough road to recovery into 2021 as an accelerating coronavirus outbreak fans …
NEW YORK – Oil prices extended earlier losses on Thursday after U.S. data showed a surprise build in crude stockpiles last week and on forecasts for lower global oil demand.
Brent futures LCOc1 fell 46 cents, or 1.1%, to …
Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending.
In a research note published Thursday, analysts at the U.S.
Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus outbreak.
Travel bans, work-from-home, canceled vacations and disrupted supply chains all mean reduced demand …
Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said in a new report on the future of oil.
The IMF said that this could have a “significant” impact on oil-exporting
Goldman Sachs said on Monday the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely extend its current output curbs through June, but expects the “uneventful” three-month extension to provide little support to prices.
OPEC and …
