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Oil products caught between Covid and green push

Most forecasts for products demand and prices have been steadily revised upwards as vaccination programmes have got underway and this has created positive market sentiment, Argus' global head of oil products Stephen Jones told the forum held today during the IP Week conference. But, any actual demand recovery will depend on how quickly governments lift lockdown measures. One major unknown is how well the vaccines will deal with new variants of Covid-19.

read more... 24/02/2021

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Texas Storm Shut In As Much As 4 Million Bpd Of U.S. Oil Production

The severe winter storm that swept through the United States this week likely shut in between 2 million barrels per day (bpd) and 4 million bpd of the total U.S. crude oil production, IHS Markit said in an analysis.

read more... 22/02/2021

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Russia, Saudi Arabia Vow Continued Coordination In Oil Policy

Saudi Arabia and Russia would like to continue their coordination to support oil market stability, the leaders of the two most influential members of the OPEC+ production pact said during a telephone conversation this week.

read more... 18/02/2021

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Oil Major Total Sees 10 Million Bpd Supply Gap In 2025

France's supermajor Total is warning that the world could find itself with a shortfall of supply of 10 million barrels per day (bpd) between now and 2025, due to continued underinvestment in the industry, the OPEC+ pact, and cracks in the U.S. shale business model.

read more... 11/02/2021

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Iberdrola secures 243 MW of solar in Spanish renewables tender

Spanish power utility Iberdrola SA (BME:IBE) said it has won a total of 243 MW of solar photovoltaic (PV) capacity in Spain’s latest renewable energy auction.

read more... 29/01/2021

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