Significant Recovery In Crude Oil Demand
Global oil demand will recover significantly next month, climbing to be within 10% of the level that the world saw prior to the coronavirus pandemic, Russia Energy Minister Alexander Novak said on…
U.S. Dip: Asian markets set for fresh upswing
(Reuters) - Asian markets appear set to open with a firmer tone on Friday, shrugging off an overnight fall in U.S. stocks as the United States prepares to debate fresh…
California driller files for bankruptcy
HOUSTON (Bloomberg) --California Resources Corp. filed for bankruptcy, kicking off what could turn into the next wave of collapses among oil drillers and the businesses that depend on them. The…
OPEC: Second COVID Wave would slow Oil Market Recovery
OPEC may have to play its market-rebalancing act longer than initially intended as it is afraid that a second coronavirus wave would slow oil demand recovery, Reuters reported on Thursday, quoting internal…
OPEC predicts rebounding oil demand levels in 2021
LONDON (Bloomberg) - OPEC expects crude oil demand to rebound sharply next year, surpassing levels seen before the coronavirus crisis, as rival producers struggle to revive output. The Organization of…
OPEC compliance eases U.S. demand fears and stabilises oil prices
NEW YORK (Bloomberg) --Crude futures in New York rose in tandem with a broader recovery in equities markets, as initial signs that OPEC members intend to comply with promised oil-production…
OPEC+ plans to restore crude production, stalls oil prices
SINGAPORE (Bloomberg) --Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges…
OPEC+ crackdown on cheating as Angola complies to cuts
LONDON (Bloomberg) - OPEC+ is another step closer to addressing the cheating that has dogged the cartel since its inception. Three weeks after a crackdown on members of the oil…
Saudi price hikes, Brent oil passes $43/bbl
LONDON (Bloomberg) - Oil rose in London to above $43 a barrel as Saudi Arabia hiked its official selling prices, and as global equity markets climbed. Brent gained 1% to…
An attempt to revive oil demand, OPEC+ slashed oil production levels
LONDON (Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of…