IEA Reduces Oil Demand Forecast as Vaccine News Unlikely to Revive Crude Markets Soon
Although Pfizer Inc.’s coronavirus vaccine made some significant headway in the past week and pushed crude prices to a 10-week
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OPEC
Libya Ramps up Oil Production to 1 Million Barrels Per Day Despite Market Oversupply
Despite the continued subdued global demand for oil, it appears that the already-oversupplied market has been pumped with even more
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OPEC Members Growing Increasingly Desperate for Higher Oil Prices as Crude Demand Remains Subdued
As the demand for crude oil collapsed amid the pandemic, OPEC had no choice but to reduce output as a
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OPEC And Russia To Begin Easing Historic Supply Cuts in August
With the slight rebound in demand for oil, OPEC+ has decided to unwind some of its supply cuts which were
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US Oil Storage Expected to Reach Full Capacity in Coming Months
Even with the recent OPEC+ deal to scale back oil production, the US is still facing a substantial over supply:
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OPEC+ Agrees To Production Cuts of 9.7 Million BPD
It appears that oil production cuts have finally been agreed upon, with OPEC+ members agreeing to cuts consisting of 9.7
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Oil Climbs As Opec+ Meeting Draws Near, Production Cuts Anticipated
Oil futures rose late in the day today as we head into tomorrow’s scheduled OPEC+ meeting which is anticipated to
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OPEC+ Discussions Delayed To Thursday, Mixed Reactions Over Weekend
Trading in oil futures is expected to open up mixed this evening after a series of events occurred this weekend
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