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Tag: OPEC


Commercialization, Conventional Fuels

Oil Rally Held Back By High Inventories, Coronavirus Fears

June 23, 2020

Via: Forbes

U.S. benchmark West Texas Intermediate (WTI) is over $40 a barrel, a price level it has struggled to surpass in the past. The uptick is the result of investor enthusiasm over the fact that global oil supply is still under […]


Chemical, Commercialization, Conventional Fuels

The Last Oil And Gas Cycle: Building The Future On Lessons From The Past

June 16, 2020

Via: Forbes

Oil and gas markets have always been volatile. Prices went up, prices went down — sometimes violently — and when they did, fortunes were made and lost. The industry learned to live with volatility, confident that when the market went […]


Commercialization, Conventional Fuels

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

June 9, 2020

Via: CNBC energy

Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July. “With oil now […]


Commercialization, Conventional Fuels

Oil rally and Saudi price spikes could hurt refiners, stifling market recovery

June 8, 2020

Via: CNBC energy

Oil prices pared gains on Monday, despite the weekend announcement by OPEC and its allies, known as OPEC+, that historic production cuts of 9.6 million barrels per day across the group would continue through July as the coronavirus pandemic continues […]


Chemical, Conventional Fuels, News and Policies, World

Saudi Arabia and Russia push for an extension to output cuts, with OPEC+ meeting this week still possible

June 4, 2020

Via: CNBC energy

Some of the world’s most powerful oil producers had been expected to convene on Thursday, with energy market participants closely monitoring whether the influential group will officially agree to extend their deepest ever round of output cuts. OPEC kingpin Saudi […]


Commercialization, Conventional Fuels

Here’s What’s Moving Oil Prices

May 28, 2020

Via: Forbes

After an enormous rally, oil prices have started to ease off today. The West Texas crude oil’s July contract crossed above $34 per barrel on Tuesday this week, which left many traders scratching their heads. There is no doubt that […]


Commercialization, Conventional Fuels

Big Oil Dividends Under Pressure With Brent Crude Down 70% In 2020

April 27, 2020

Via: Forbes

At the start of the year, even before oil and gas companies were clobbered by the global coronavirus or Covid-19 downturn and the short-lived OPEC+ crude price war, energy market sentiment wasn’t exactly robust. However, what has unfolded in the […]


Commercialization, Conventional Fuels

Low Oil Prices Put Squeeze On Non-OPEC Producers

April 17, 2020

Via: Forbes

The OPEC+ ‘deal of the century’ last weekend changes oil market dynamics in the short run. The 10 million barrels per day (b/d) production cut from May is huge, amounting to 10% of global supply, and it’s needed. The cuts […]


Commercialization, Conventional Fuels

Underwhelming Oil Cut Will Weaken OPEC Credibility

April 15, 2020

Via: Forbes

The headlines suggest a bold new era for the OPEC-plus cartel after members agreed to a historic supply cut deal of nearly 10 million barrels a day over the weekend to help offset colossal demand losses from the Covid-19 coronavirus. […]


Commercialization, Conventional Fuels

3 Reasons Why Oil Prices Can Hit $5.00

April 15, 2020

Via: Forbes

Crude Oil futures just broke below their March 2020 lows and are plunging even after President Trump brokered a deal for OPEC to cut production. There’s a growing consensus that oil prices will be trading in the low single digits […]


Commercialization, Conventional Fuels

OPEC+ deal saved ‘more than 2 million’ jobs in the US, says Russia’s sovereign wealth fund chief

April 13, 2020

Via: CNBC energy

The OPEC+ deal that’s supporting oil prices could save millions of U.S. jobs, according to the chief executive of Russian sovereign wealth fund RDIF. After days of discussion, OPEC and its allies reached an agreement on Sunday to cut production […]


Commercialization, Conventional Fuels, News and Policies, World

Too Little Too Late? Russia And Saudi Arabia Reach Truce In Oil Price War

April 10, 2020

Via: Forbes

OPEC+ leaders Saudi Arabia and Russia arrived at an historic crude production cut late Thursday, effectively halting a bitter oil war which saw prices implode by more than 50% from January highs. Details from the virtual OPEC+ conference have just […]


Commercialization, Conventional Fuels

Expectations for an oil deal remain low ahead of crucial OPEC+ meeting

April 8, 2020

Via: CNBC energy

Oil markets are facing their greatest moment of uncertainty in decades ahead of a virtual meeting of OPEC+ ⁠— the alliance of OPEC and non-OPEC producers ⁠— on Thursday, which was delayed from Monday over persistent disagreements and abrasiveness between […]


Commercialization, Conventional Fuels

Oil Price Truce? Brent Futures Jump 10% As OPEC+ Scrambles Urgent Meeting

April 3, 2020

Via: Forbes

Barely a month on from the collapse of OPEC+ and the subsequent slump in oil prices, the crude producers’ group has announced it will attempt another round of negotiations via an online meeting on Monday (April 6), prompting a price […]


Commercialization, Conventional Fuels

The oil price war could persist until year-end, analyst says

April 1, 2020

Via: CNBC energy

The oil price war could last until the end of the year, an analyst said Wednesday. Prices have plummeted more than 60% since the beginning of year after OPEC+ failed to reach an agreement, leading Saudi Arabia and Russia to […]


Commercialization, Conventional Fuels

Saudi Arabia unveils plans to maximize oil output, escalating a price war with Russia

March 11, 2020

Via: CNBC energy

OPEC kingpin Saudi Arabia unveiled plans Wednesday to dramatically ramp up oil production, raising the stakes of an all-out price war with non-OPEC leader Russia. State-owned oil behemoth Saudi Aramco said Wednesday that it had been asked by the Saudi […]


Commercialization, Conventional Fuels

Is This The Next Oil Price Collapse?

March 9, 2020

Via: Forbes

While OPEC and its compatriots struggle to cope with the demand weakness caused by the covid19 virus, it must be asked if this is more than a brief interlude in an otherwise robust oil market (robust in terms of price, […]


Commercialization, Conventional Fuels

OPEC deal in jeopardy as Russia stalls over deepest round of supply cuts since 2008

March 6, 2020

Via: CNBC energy

OPEC and non-OPEC allies have so far failed to agree on how much production to cut amid the coronavirus outbreak, with Russia reportedly refusing to give the green light to the deepest supply cuts since the global financial crisis. Oil […]


Commercialization, Conventional Fuels

Oil Prices Hinge On OPEC Decision In Light Of COVID-19 Outbreak

March 5, 2020

Via: Forbes

OPEC ministers reached a deal on Thursday to cut oil production by 1.5 million barrels a day, but it remains to be seen whether Russia and the other OPEC+ partners will go along with the reductions. The OPEC+ is meeting […]


Commercialization, Conventional Fuels

OPEC will ‘go beyond’ what the market has currently priced in, strategist says

March 2, 2020

Via: CNBC energy

OPEC could deliver a larger-than-expected production cut at its meeting later this week, according to MUFG Bank. Oil prices have been under pressure since the outbreak of the coronavirus in January dampened the demand outlook for the year. Following the […]