Post Tagged with: "Oil demand forecast"

Source: Reuters

OPEC cuts 2021 oil demand forecast again as virus cases rise

Reuters


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

Demand will rise …

Source: Reuters

OPEC cuts long-term forecast for oil demand growth, sees ‘continued disparity’ in climate policy

CNBC


LONDON — OPEC on Thursday said it had downwardly revised its forecast for global oil demand growth over the long term, given the industry faced “an existential threat” this year in the wake of the coronavirus pandemic and as

Source: CNBC

A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns

CNBC


The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power” on the supply side of the oil market in recent weeks, but concerns remain over the potential for a second wave of Covid-19 infections.

Source: Reuters

‘Demand destruction’ – analysts race to lower outlooks for oil

Reuters


LONDON  – Traders and analysts are struggling to revise down their forecasts for oil demand fast enough, as government lockdowns to contain the coronavirus outbreak have rapidly cut fuel consumption.

At the start of the year, forecasters had expected …

March 20, 2020 - 11:00 am Commodity Pricing, Crude Oil News, Energy News
Source: Houston Chronicle

IEA plans to revise down oil demand forecasts due to virus

Houston Chronicle


The International Energy Agency plans to revise down its oil-demand forecasts next week because of the spreading coronavirus.

“I am going to announce it Monday morning in Paris,” IEA chief Fatih Birol told a Congressional hearing in Washington …

Coronavirus to more than halve forecast for oil demand growth this year – Rystad Energy

Coronavirus to more than halve forecast for oil demand growth this year – Rystad Energy

Reuters


OSLO  – The coronavirus outbreak will cut growth in global oil demand by more than half this year compared to earlier forecasts, Norway’s biggest independent energy consultancy Rystad Energy predicted on Thursday.

Oslo-based Rystad now predicts global oil demand …

March 5, 2020 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Oil climbs to $60 as Iran tanker attack reignites Mideast risk

Oil climbs to $60 as Iran tanker attack reignites Mideast risk

Source: Houston Chronicle


Oil jumped to $60 a barrel after reports of missile strikes on an Iranian tanker off the coast of Saudi Arabia reignited fears over military escalation in the world’s most important crude-producing region.

Brent futures surged about …

October 11, 2019 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News
OPEC: Too Close to Call - Oil & Gas 360

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says 

OPEC may need to cut output to 17-year low to balance market 

From Bloomberg  

Global oil stockpiles swelled surprisingly in the first half of this year as production cuts by OPEC and its partners failed to prevent the return of

July 15, 2019 - 5:27 am Closing Bell Story‎, Energy News, OPEC