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...staggering 22mbbpd of oversupply in April as OECD economies headed into lockdown and OPEC+ cuts dissolved. Demand fell to 78mmbpd and Saudi Arabia pumped an additional 1.6mmbpd, driving Brent down to...
...have seen a significant drop during November (no doubt much to OPEC’s dismay). A couple of factors influencing this both relate to China – one being China’s general economic outlook,...
...oil prices remaining low and OPEC’s production cuts and changes within OPEC, Russia and the unconventionals in the supply equation will also be debated along with the further political and economic...
...open to striking a deal with OPEC to reduce oil output. “Considering that heating oil prices increased sharply following speculation around the last OPEC meeting where the organisation reached an...
...oil is one thing, but hunger for food is much worse. Q1 With demand having risen unexpectedly in Q4 2021, against a backdrop of chronic underperformance by OPEC+ in meeting...
...demand. The current over supply situation has been well documented; fracked oil flooding US markets, OPEC refusing to cut production in an attempt to maintain market share and now, Iran’s...
...the winter months when, buoyed-up by OPEC’s production cut, the price of Brent crude hovered at around $55 a barrel, prices started to fall steeply in March, rallied briefly in...
...OPEC+ cuts due to take effect and storage constraints less pronounced, trading at just over $25 a barrel. While WTI is a localised trading market in the US, OGUK warned...
...from a current 20% to 13% by 2030. Issues likely to dominate the energy environment in 2023 are: Crude oil supply, especially in the light of recent OPEC decisions on...
...the latest agreement from OPEC+ to cut output has sparked fears of further price hikes. As businesses and international leaders look to counter the unpredictable costs associated with fossil fuels,...
