Oil Market

OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says

August 3, 2020

CNBC OPEC and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts. The alliance’s historic production cuts of 9.7 million barrels per day expired on July 31 this year. From August, the cuts will be tapered to 7.7 million bpd.

OPEC chief sees oil market moving closer to balance before key meeting

July 13, 2020

Reuters LONDON/DUBAI – The oil market is getting closer to balance as demand gradually rises, OPEC’s secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have been cutting output since May by 9.7 million

OPEC chief says oil market may have upside potential in 2020

November 5, 2019

Source: Reuters VIENNA (Reuters) – The oil market outlook for next year may have upside potential, the secretary-general of producer group OPEC said on Tuesday, appearing to downplay any need to cut output more deeply. The Organization of the Petroleum Exporting Countries and its allies led by Russia meet in December. The so-called OPEC+ alliance, seeking to boost oil prices,

Bank of America Sees Oil Gains in 2019, but That Forecast is Far from Universal

December 12, 2018

From CNBC A year ahead outlook report from Bank of America Merrill Lynch expects Brent crude to regain its recent losses in 2019 and settle at $70 a barrel. But amid mounting global uncertainty on everything from trade and monetary policy to politics, that forecast is far from consensus. After a dramatic summit of OPEC and non-OPEC members over the

oil-barrels-and-markets-482px Oil Prices Drop - Oil & Gas 360

Oil Market Tightening: IEA Chief

August 31, 2018

From Reuters NEW DELHI (Reuters) – Global oil markets could tighten towards the end of this year due to strong demand and uncertainty of production in some oil producing nations, the head of the International Energy Agency said. “Definitely there are some worries that oil markets can tighten towards the end of this year and as major oil importing countries

OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says

OPEC chief sees oil market moving closer to balance before key meeting

OPEC chief says oil market may have upside potential in 2020

Bank of America Sees Oil Gains in 2019, but That Forecast is Far from Universal

Oil Market Tightening: IEA Chief

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