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OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period

OPEC

OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period

Oil & Gas Trade
27-04-2020

Refined Oil Product Freight Rates Nearly Double in a Week
Refined oil tanker rates surged this week to their highest level in 11 years.
Oil & Gas Trade
27-04-2020

Russia Halves Western Sea Oil Exports in May after OPEC+ Deal
Russia plans to halve oil exports from its Baltic and black sea ports in May.
Market Analysis
27-04-2020

When Oil Became Waste: A Week of Turmoil for Crude, and More Pain to Come
In its nearly 40-year history, U.S. oil futures have never fallen below $10 a barrel.
Oil Shale
26-04-2020

The Shale Suffering Has Only Just Begun
A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading of the coronavirus.
Oil & Gas Trade
26-04-2020

Japan Urges G20 Energy Summit to Address Importance of Stable Oil Prices
Japan hopes a Group of 20 energy ministers summit later on Friday will address the importance of stable oil prices and supply after OPEC and its allies agreed to make record production cuts, the country’s industry minister said.
Oil & Gas Trade
26-04-2020

Covid-19: Saving Nigeria from the Peril of Oil Economy
It is no gainsaying the fact that the global pandemic Coronavirus has made the world economy to shrink. With a sudden shutdown of most countries to contain the spread of the virus, economic activities have taken a serious nosedive in many nations.
Crude Oil
26-04-2020

Venezuela's Oil Output Could Fall Again Soon
On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela.
Oil Price
26-04-2020

5 Reasons Why Mexico's Oil Industry Is Destined For Disaster
Mexico has somewhat inadvertently found itself at the heart of the oil industry’s most burning issues of 2020.
LNG
26-04-2020

Iran Reaches Production Milestone At World's Largest Gas Field
Iran is now working quietly towards oil exports and petrochemicals.
Crude Oil
26-04-2020

How the U.S. Could Use Taxpayer Dollars to Save Oil and Energy Companies
The U.S. federal government is looking at "a whole bunch of alternatives" to support oil and other energy companies.
Crude Oil
25-04-2020

Russia Cuts European Sea Ports Oil Exports To 20-Year-Low
Exports of Russia’s key export blend Urals are expected to slump to the lowest level since at least the early 2000s, according to data from Refinitiv Eikon.
Crude Oil
25-04-2020

Whether Opec+ Formally Agrees or not, Deeper Oil Cuts Now Look Inevitable
Whether or not Opec+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisis may force them to cut more.
Oil&Gas Drilling
24-04-2020

Putin: OPEC+ Deal Should be Complied with by all Participants
The deal stipulates the oil production cut by 9.7 mln barrels per day in total in May-June 2020, by 7.7 mln barrels per day in July-December 2020 within the alliance framework, and by 5.8 mln barrels daily in January 2021-end of April 2022
Crude Oil
24-04-2020

U.S. Crude Oil Production Decreases Last Week: EIA
U.S. crude oil production decreased during the week ending April 17, the U.S. Energy Information Administration (EIA) said Wednesday.
Oil & Gas Trade
24-04-2020

Trump Pledges to Support Oil, Gas Industries Amid Oil Futures Crash
U.S. President Donald Trump on Tuesday directed his administration to work on a plan to get funding to the oil and gas industries as a steep sell-off in oil futures continued.
Oil Price
24-04-2020

Argentina Plans Higher Local Oil Price to Protect Sector Amid Rout
Argentina is home to the huge Vaca Muerta shale deposit, the size of Belgium. It is thought to hold one of the world's largest reserves of unconventional hydrocarbons.
Crude Oil
24-04-2020

Azerbaijan Imposes Oil Cuts on BP-Led Fields
Azerbaijan's BP-led Azeri-Chirag-Guneshli project will have to cut output sharply from May for the first time ever as the country moves to meet its commitment under a global deal to cut production, four sources told Reuters on Thursday.
Oil Pipeline
24-04-2020

US Delays Oil Pipeline Approvals after Environmental Ruling
The U.S. Army Corps of Engineers has suspended a nationwide program used to approve oil and gas pipelines.
Crude Oil
24-04-2020

In Rare Development, Oil Majors Are Forced To Cut Output Under OPEC Deal
A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its new quota under the OPEC production cut deal, three sources told Reuters on Thursday.
Oil & Gas Trade
24-04-2020

Canada’s Oil Has Nowhere To Go As The US Runs Out Of Storage
Collapsing demand and brimming storage in the United States, Canada’s almost exclusive oil outlet, have resulted in a very usual situation in the Canadian oil industry.
Oil & Gas Trade
23-04-2020

Saudi Arabia may Re-route Tankers if U.S. Imposes Crude Import Ban
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
Oil & Gas Trade
23-04-2020

Nigeria's Oil, Gas Exports Hit $5.1bn in One Year - NNPC
The Nigerian National Petroleum Corporation (NNPC) has said that the country exported oil and gas worth about $5.18 billion in the last one year, spanning between January 2019 and January 2020.
Market Analysis
23-04-2020

Why The World Is Still Pumping So Much Oil Even As Demand Drops Away
With the global economy in a pandemic-induced coma, the world just doesn't need a lot of oil.
Oil & Gas Trade
23-04-2020

Indian Refineries Slash Middle East Oil Imports As Storage Fills Up
Two oil refiners will be cutting their crude oil imports from Saudi Arabia by between 66 percent and 80 percent for May, as India – population 1.3 billion people – went into a nationwide lockdown at the end of March.
CNPC
23-04-2020

CNPC Starts Building a 5.6 bcm Gas Storage Project in Xinjiang (China)
China National Petroleum Corporation (CNPC) has started to build the Wenjisang gas storage cluster project in Tuha Oilfield in the Xinjiang Uygur Autonomous Region in northwest China.

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