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OPEC+ Decides to Gradually Curb Output Cuts as Demand Concerns Persist
The ongoing coronavirus crisis continues to cloud the outlook, and analysts expect this to reaffirm Saudi Arabia’s caution about the global economic recovery.
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Oil Prices Jump as OPEC+ Keeps Production Largely Steady, Saudi Arabia Continues Voluntary Cut
Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April.
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Saudi Arabia and Russia Are at Loggerheads Again, But OPEC Meeting ‘Unlikely to Ruin the Oil Party'
Analysts broadly expect OPEC+ to hike output from current levels, but questions remain over how much exactly and which countries will be affected.
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Oil Prices Expected to Struggle Despite Saudi Cuts, But Goldman Is More Bullish Than Most
Goldman Sachs sees demand rebounding by March, with the arrival of warmer weather and increased vaccinations.
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OPEC and Allies Agree to Gradually Increase Production After Days of Discussions
OPEC and its oil-producing allies agreed to increase production by 500,000 barrels per day beginning in January.
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OPEC Warns of ‘Immense Challenges' as Agreement on Cuts Remains Elusive
OPEC and its allies have failed to come to an agreement over an extension to their production cut agreement, and talks have been postponed until Thursday, Reuters reported on Monday.
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There's a Lot of Dissatisfaction and Fatigue Within OPEC+, S&P Global Platts Says
OPEC+ is expected to consider delaying its output increase at its meeting this week, but there are “some cracks in the foundation,” said Herman Wang of S&P Global Platts.
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Goldman Questions the Future and Purpose of OPEC+ Ahead of a Critical Meeting
OPEC+ is scheduled to begin a two-day meeting Monday to discuss the next phase of its oil production policy.
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IEA Says Covid Vaccine ‘Unlikely to Ride to the Rescue' of World Oil Market for Some Time
The IEA said it does not expect the prospect of a coronavirus vaccine to significantly boost demand “until well into next year.”
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OPEC, Allied Nations Extend Nearly 10M Barrel Cut by a Month
OPEC and allied nations have agreed to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to boost energy prices hard-hit by the coronavirus pandemic