Post Tagged with: "oil production cuts"

Source: Reuters

Oil prices set for modest recovery on OPEC+ cuts, improving demand: Reuters poll

Reuters


Oil prices will consolidate at around $40 a barrel this year, with a recovery gaining steam in the fourth quarter and into 2021 on OPEC-led production cuts and as economies limp back from coronavirus lockdowns, a Reuters poll showed …

Source: Reuters

Trump administration putting trust in global oil producers ahead of OPEC+ meet

Reuters


WASHINGTON – The Trump administration believes ahead of an expected OPEC+ meeting this week that major oil producers such as Saudi Arabia and Russia will honor their pledges to cut crude production and will not damage the global economy …

Source: Reuters

Angola’s oil exploration evaporates as COVID-19 overshadows historic reforms

Reuters


LONDON/LAGOS  – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer.

The consequences could be grave …

Source: CNBC

OPEC oil production cuts likely to continue for the ‘whole of 2020’: Wood Mackenzie

CNBC


OPEC is likely to continue with its oil supply cuts for the rest of 2020, a research director said Monday.

“One thing which we are seeing in our numbers is that the market is still not ready to absorb