Tag Archives: opec

An OPEC document dated January 4, seen by Reuters, showed that the OPEC+ group of oil producers is considering reducing production by 500 thousand barrels per day in February, and three other scenarios include maintaining production at current levels or increasing 500 thousand barrels per day.

Three OPEC+ sources told Reuters on Monday that most of the group’s experts expressed their opposition to increasing oil production by half a million barrels per day from February at the Joint Technical Committee meeting on Sunday.

The OPEC+ alliance have on Thursday reportedly agreed to a small rise in crude oil output starting next January by 500,000 barrels per day, Reuters reported. However, major producers are yet to agree on the broader output policy for the rest of 2021. Producers hope that economic recovery from the …

OPEC and Russia will resume talks Thursday (December 3) in an effort to define policies for 2021 after an initial round of discussions this week failed to reach a compromise on how to cope with weak oil demand amid a second wave of the coronavirus pandemic. It was widely expected …

A document seen by Reuters showed that OPEC and its allies have revised demand projections for 2021, with weaker demand forecasts than previously estimated, which supports the call for a tighter supply policy next year. “For the year 2021, demand is expected to grow by 6.2 million barrels per day, …

In an interview with Dubai TV, Director of Research and Development at Noor Capital, Mohamed Hashad takes a closer look at the markets. Oil Oil began to rise towards $ 41 levels on their way to record the second week of gains by more than 10%. There are several factors …

Two OPEC + sources told Reuters on Friday that the producer group’s compliance with the October oil production cuts is expected to reach 101 percent.

Major crude oil producers in the Arabian Gulf are considering whether to extend output curbs into 2021, Reuters reported. The current OPEC+ agreement indicates that by the end of the year, production cuts will be eased by 2 million barrels per day (b/d). However, it is widely expected that the …

The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market. “The economic and oil demand recovery remain anemic,” the Organization of Petroleum …

In an interview with Dubai TV, Director of Research and Development at Noor Capital, Mohamed Hashad takes a closer look at the markets. US Stimulus and Dollar Hashad says that the US stimulus plan is still one of the most important drivers of global financial markets and had a clear …