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EIA Sees Global Oil Market Balancing By End-2021
The OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of…
Libya Eyes 260,000 b/d as Opec+ Keeps Watch: Update
Libya's state-owned NOC said it expects the country's oil production to reach 260,000 b/d next week as onshore fields that have been shut in for several months …
Global Effort Begins Again to Stabilise Oil Prices, OPEC+ Meet May be Called in Oct
A bigger global effort to stabilise oil prices involving all major oil producers including Russia is again on the cards to see that the current crisis does not …
International Oil Prices Rose Significantly on the 17th
It closed at 43.3 US dollars per barrel, an increase of 2.56%.
Russian Energy Minister: Global Oil Demand is Expected to Fully Recover in the Second Quarter of 2021
Russian Energy Minister Alexander Novak participated in the OPEC+ JMMC online meeting and said that global oil demand is expected to fully recover by the second…
OPEC+ Panel to Meet Amid Oil Price Decline
OPEC and allies, led by Russia, are scheduled to hold an online meet on Thursday to discuss compliance with their agreed output cuts and demand trends amid fall…
China's Sinopec Buys About 10 LNG Cargoes for Winter Delivery
China's Sinopec has purchased about 10 liquefied natural gas cargoes for delivery between November and March next year.
EIA: OPEC+ Crude Oil Production Increased in August
Both OPEC and non-OPEC partner countries increased their crude oil production in August.
OPEC at 60: ‘Road to Stability Long and Bumpy’
Algerian energy minister and current Opec president Abdelmadjid Attar was interviewed by Argus' Ruxandra Iordache on the producer group's achievements to date a…
OPEC Cuts Oil Demand Forecast For 2020, Again
OPEC revised down by another 400,000 bpd its forecast for global oil demand this year, expecting consumption to shrink by 9.5 million bpd over 2019.
Oil Edges Higher Ahead of Opec+ Meeting with Demand in Focus
Oil edged higher toward US$38 a barrel in New York ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-…
Saudi Economic Outlook Sours After Oil Price Crash
Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingd…
COVID-19 Forces Libyan Oil Companies To Halt Operations
Two of Libya’s National Oil Company affiliates on Monday sent some oil workers home and halted some work due to the spread of Covid-19, according to a NOC stat…
Russia’s Novak Says 2020 Oil Demand Could Fall by Up to 10 Million bpd
Global oil demand could fall by 9-10 million barrels per day this year due to impact of the COVID-19 pandemic, Russian Energy Minister Alexander Novak said on F…
China's National Oil Companies Outline Early Green Energy Plans
China's top state oil and gas producers - PetroChina, Sinopec Corp and CNOOC Ltd are working on the following green initiatives.