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Crude Oil
Opec Lifts Oil Supply Forecast, Demand Unchanged
Opec has kept its global oil demand growth projections for 2021-22 unchanged but it has lifted its forecast for supply on the back of rising Opec+ quotas.
Oil Price
Aramco Posts Nearly 300% Leap in Second-Quarter Profit as Oil Demand Recovers
Saudi state oil giant Aramco reported a stunning 288% increase in net income to $25.5 billion for the second quarter, while maintaining its dividend of $18.8 bi…
Crude Oil
Covid Resurgence in China Drives Global Oil Demand Concerns
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market.
Net Zero Emission
Japan’s Unveils 'Ambitious' Plan to Cut Fossil Fuel in Energy Mix to 41%
WoodMac warns that this will have significant ramifications for coal, LNG, and oil demand.
Oil Price
OPEC Sees World Oil Demand Reaching Pre-Pandemic Level in 2022
OPEC said that that demand next year would rise by 3.4% to 99.86 million barrels per day, averaging more than 100 million bpd in the second half of 2022.
Crude Oil
OPEC Discussing Deal to Raise Oil Production by 2 million b/d by December: Sources
OPEC and its allies appear in striking distance of a deal on production quotas, discussing proposals that call for an output increase of about 2 million b/d fro…
Oil Price
Oil Surges As Traders Await OPEC+ Decision on Easing Production Cuts
Its allies on further easing production curbs in response to growing demand as the global economy gathers momentum.
Crude Oil
Goldman Sachs: Oil Markets To See Deficit Of 5 Million Bpd By End 2021
The oil market will end 2021 in a deficit of 5 million bpd as demand grows by another 2.2 million bpd in the second half of the year
Oil & Gas Trade
Oil to Trade Between $68 and $75 in Second half of 2021 Amid Rising Demand, Iraq Minister Says
Crude prices have increased due to supportive Opec+ policies and growing demand as economies reopen
Oil Price
Oil Extends Advance Above $70 Amid Improving Demand Outlook
Oil extended gains above $70 a barrel after an industry report pointed to another draw in U.S. crude stockpiles, reinforcing optimism around the demand recovery…
Oil Refinery
World’s Largest Oil Refinery Project to Help Meet Nigeria’s Oil Demands
XCMG Construction Machinery will be working together with Dangote Industries Limited on the world’s largest oil refinery project to be located at Lekki Free Zo…
Crude Oil
Russia Is Making A Mad Dash To Outrun Peak Oil Demand
Several of the world’s largest oil-producing nations have recently made public plans to boost their production capacity.
OPEC
Video: OPEC Reiterates Global Oil Demand Forecast for 2021
OPEC reiterated its 2021 forecasts for world oil demand on Tuesday, as it nudged its predictions for global economic growth higher.
Oil Price
Record-High Fuel Prices Add To Concerns About India’s Oil Demand
Gasoline and diesel prices in India hit a new record-high on Wednesday, adding another concern for the oil market about demand in the world’s third-largest oil…
Crude Oil
IEA Sees Oil Demand Recovery Outpacing Growth in Supply
OPEC+ producers have been curbing output since 2017 but have eased since imposing record high cuts last year, with more easing agreed from this month
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