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NEWS |
Rystad Energy: coronavirus poised to wipe out majority of 2020 oil demand growth
The spread of coronavirus continues to deepen the severity of the blow to global fuels demand. Rystad Energy now expects more than half of global oil demand growth to be lost in 2020...
NEWS |
No End in Sight to the Oil Price War Between Russia and Saudi Arabia
Russia and Saudi Arabia, two of the world’s biggest oil producers, are each making a bet that they are better placed than the other to bear the pain of the oil price war that they set off over the pas (...)
NEWS |
Out of service? OFS firms brace for bankruptcies as price war could slash $250 billion off E&P budgets
The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain on a (...)
NEWS |
Oil prices drop 31% in worst loss since Gulf War
Oil markets crashed more than 30 per cent after the disintegration of the Opec+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and ec (...)
NEWS |
Coronavirus now poised to wipe out most of 2020 oil demand growth, no OPEC cure in sight
The spread of coronavirus continues to deepen the severity of the blow to global fuels demand.
NEWS |
Global Oil Stocks To Pile Up As Proposed OPEC Cuts Are No Match For Coronavirus-induced Surplus
The coronavirus outbreak in China will curb global oil demand growth by at least a quarter this year, and the production cuts of 600,000 barrels per day (bpd) proposed by an OPEC+ committee are far fr (...)
NEWS |
Azerbaijan likely to support deeper OPEC+ oil output cuts
Azerbaijan is likely to support further oil output cuts by OPEC and its allies, the ex-Soviet country’s energy minister said, should the move be necessary to balance demand fears after a coronavirus o (...)
NEWS |
Overview: The Subsea Industry’s Comeback
While industry observers were following the slowdown in US shale growth, OPEC’s production cuts, and the geopolitical turmoil in the Middle East in 2019, the global offshore oil and gas industry and t (...)
NEWS |
What Themes Will Dominate Oil in 2020?
MENA (Middle East and North Africa), the climate and ESG (environmental, social and governance). These are three themes that will dominate the global oil market in 2020, according to research firm and (...)
NEWS |
Oil falls below $62, heads for weekly loss on China virus concerns
Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts.
NEWS |
Oil prices poised for slide as tensions cool
Oil prices have had a tumultuous week since the US launched a drone attack in Baghdad, killing Iranian General Qassem Soleimani....
NEWS |
Oil tops $70 as Iran, Trump trade threats
Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike which killed a top Ira (...)
NEWS |
Weekly Oil, Gas and Energy Review
Weekly Oil, Gas and Energy Review: OGV Energy
NEWS |
Iran, Iraq and Suleimani: How will things play out for energy markets?
It’s winter in Baghdad, but the US killing of Iranian major general Qassem Suleimani and Iraqi militia leader Abu Mahdi Al Muhandis has raised the already heated political temperature....
NEWS |
Don’t get too excited – OPEC needs to do more in 2020
The 14-country OPEC bloc, Russia, and a host of other OPEC+ countries agreed on 6 December 2019 to bump up the group’s target oil-production cuts by just over half a million barrels per day, from 1.19 (...)
NEWS |
Oil hits highest since September on trade hopes, OPEC cuts
Oil rose further above $67 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower U.S. crude inventories, by hopes of an end to the China-U.S. trade dispute and OPE (...)
NEWS |
2019 Global Oil and Gas Review
The oil and gas industry is wrapping up a rather eventful year in which global investments in the energy sector continued to stabilise after three years of declines between 2015 and 2017.
NEWS |
Weekly Energy Recap: Keeping Things In Balance
Brent crude rose above $64 per barrel after OPEC+ producers unanimously agreed to deepen output cuts by 503,000 barrels per day to a total of 1.7 million bpd till the end of the first quarter of 2020.
NEWS |
OPEC agrees to 500,000 barrel per day production cut: statement
The OPEC group of oil producing countries and their allies — including Russia — agreed on Friday to a production cut of 500,000 barrels per day in addition to their current agreement.
NEWS |
Oil may fall to $40, experts warn OPEC
Experts at an energy research group, Rystad Energy, have predicted that there will be a substantial build of global crude stocks and a corresponding drop in oil prices if the Organisation of Petroleum (...)
NEWS |
Saudis pledge to cut production, but only if other OPEC members stop cheating
Saudi Arabia appeared to be on track to forge a new quid pro quo with fellow OPEC+ members: If you stop cheating, we’ll keep on cutting.
NEWS |
Oil supply shadowing demand puts OPEC in tough spot
Global oil supply overshadowing overall oil demand in the world put OPEC in a difficult situation during the oil price slump years of 2014 through 2016, OPEC Conference president said on Dec. 5.
NEWS |
Non-OPEC production is growing at record speed
Oil production from non-OPEC countries is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet thi (...)
NEWS |
Global oil stocks will balloon if OPEC fails to agree on deeper production cuts
Barring additional oil production cuts by OPEC in 2020, Rystad Energy forecasts a substantial build of global crude stocks and a corresponding drop in oil prices.
NEWS |
OPEC+ to Consider Deeper Output Cuts, Iraq Oil Minister Says
The OPEC+ alliance will consider deeper cuts to crude production when oil producing nations meet in Vienna on Dec. 5, Iraq’s oil minister Thamir Ghadhban said.
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