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As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets. View the full article
OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited. View the full article
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery. View the full article
OPEC and its allies agreed to proceed with their next oil-production hike, while signaling they could revisit the decision at any moment as the risk to demand from the omicron variant of Covid-19 becomes clearer. View the full article
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. View the full article
OPEC’s top diplomat told European Union officials that the current crisis in global oil markets caused by Russia’s invasion of Ukraine is beyond the group’s control. View the full article
OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said. View the full article
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. View the full article
The Organization of Petroleum Exporting Countries lifted output by 290,000 barrels a day, slightly more than stipulated by its road map for restoring output, according to a survey. Saudi Arabia and Iraq were the main drivers of the increase. View the full article
The Organization of Petroleum Exporting Countries trimmed estimates for the amount of crude it will need to pump in the second quarter by 690,000 barrels a day, amid a weaker picture for demand and stronger growth in rival supply. View the full article
Saudi Arabia and its OPEC+ allies stunned the oil market with a decision to keep supply in check, sending prices surging and adding inflationary pressure to the global economy as it emerges from the pandemic. View the full article
World oil consumption will see a year-on-year increase of 2.3 MMbpd in the second half, about 150,000 bpd more than during the first, amid continued economic growth in China and other emerging economies, OPEC said in a monthly report. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. View the full article
OPEC Secretary-General Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the OPEC+ alliance, has died in his native Nigeria. He was 63. View the full article
OPEC expects that oil stockpiles released by consuming nations could massively swell the surplus in global markets. View the full article
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. View the full article
OPEC+ technical experts downgraded their expectations for how tight global oil markets will be this quarter, a week before ministers meet to decide production policy. View the full article
The coalition led by Saudi Arabia and Russia believes that the glut created during the pandemic has nearly gone, and that oil stockpiles will diminish rapidly in the second half of the year as lockdowns ease and travel gathers pace. View the full article
OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022. View the full article
OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change. View the full article
Oil consumption will climb by 5%, or about 5 million barrels a day, in the second half of 2021 versus the first as the world emerges from the pandemic slump, the Organization of Petroleum Exporting Countries forecast in a report. View the full article
The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group. View the full article
OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved. View the full article
In the August Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts larger than previously expected world petroleum inventory draws in 2021 and larger inventory builds in 2022. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.