The oil market is shifting from a surplus to a supply deficit that will last for all of 2024 if OPEC+ further extends its production cuts until the end of the year, the International Energy Agency (IEA) said …
LONDON – Oil demand is set to hit a record high this year and the market is tightening but economic headwinds and interest rate hikes have deflated growth expectations slightly, the International Energy Agency (IEA) said on Thursday.
Still, …
LONDON – Oil prices fell on Monday after a revolt by Russian mercenaries over the weekend, though the political instability did not appear to pose an immediate threat to oil supply from one of the world’s largest producers.
Brent …
There will be no significant effect on oil prices from stricter enforcement of the price cap on Russian oil exports as supply will not change meaningfully.
This is according to the International Energy Agency, which commented on a …
After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands of OPEC and its largest and most influential members in …
OPEC Secretary General Haitham al-Ghais said on Wednesday that the organization is ready to “intervene for the benefit of oil markets”, Saudi-owned Al-Arabiya TV reports, citing Ghais as saying that OPEC is aware, cautious and monitoring …
LONDON (Bloomberg) –The oil market is getting tighter and there may be even less slack in the system than forecasts suggest.
The latest outlooks from the International Energy Agency and the U.S. Energy Information Administration show the …
The International Monetary Fund revised its growth forecasts for the Middle East and North Africa downward again amid an “unusually high level of uncertainty,” according to its latest regional economic report.
It now expects MENA economies to contract 5.7%
Qatar’s Minister of State for Energy Affairs shared his thoughts on some of the major oil producers’ market moves in recent months, shedding disapproval on the March decision by Saudi Arabia and Russia to launch into a price war, …
The widow-making collapse in oil prices came to a pause in Asia trade on Thursday, but analysts aren’t convinced that the worst sell-off in oil market history is over yet.
“We think that this is the inflection phase,” Goldman …
LONDON (Reuters) – Oil prices fell more on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle.
Brent crude LCOc1 was down 37 cents at $64.83 …
Saudi Arabia and Russia led a deal on Friday in which OPEC and its allies committed to deeper oil output cuts in the first quarter of 2020 aiming to avert oversupply and support prices.
The group of more than …
From Reuters
The rise in new suppliers of oil and gas has reduced the ability of Iran to influence global oil markets, U.S. Energy Secretary Rick Perry said on Monday.
The price of crude LCOc1 jumped on Monday following Iran’s …
U.S. crude oil stocks at this point in 2017 have dropped below the record highs of 2016. But inventories are still high. So in the face of predicted increasing oil production from shale in 2017, rebalancing inventories will be difficult, …
