OPEC+ once again extended its oil production cuts this month. The decision was anything but unexpected and, unlike previous production policy announcements, it had the desired effect on prices. However, it could only work for so long. Soon, …
(Bloomberg) – Saudi Arabia’s latest oil production cuts are set to tighten global markets sharply next month, data from OPEC show. Even before the kingdom announced its surprise new measures just over a week ago, the Organization of …
Washington sees OPEC+’s decision to slash oil production by more than 2 million barrels a day as political interference and a “blow” against U.S. President Joe Biden, said Dan Yergin, vice chair of S&P Global.
On Wednesday, the …
MOSCOW – Russia hopes the incoming administration of U.S. President-elect Joe Biden will not derail producer nations’ action to boost oil markets, Russia’s Deputy Prime Minister Alexander Novak said on Monday.
Russia, other leading oil producers and the Organization …
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 …
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 …
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 …
