Latest news
IEA sees oil demand growth slowing as China's share ebbs
Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter due to economic problems.
read more... 11/07/2024
OPEC sticks to 2024 oil demand view, sees strong travel season
OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024, predicting robust fuel use in the summer months.
read more... 10/07/2024
Norway Expands Arctic Acreage for Oil and Gas Drilling in Mature Areas
Norway is expanding the acreage in the Barents Sea and the Norwegian Sea, for which companies vying for licenses in mature areas can bid this year, the energy ministry of Western Europe’s largest oil and gas producer said on Wednesday.
read more... 09/05/2024
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OPEC’s Influence on Oil Prices To Remain Significant In 2024
At their latest meeting in early December, the Organization of Petroleum Exporting Countries and its partners, led by Russia, agreed to reduce their combined production of crude oil to some 2.2 million barrels daily.
read more... 02/01/2024
OPEC+ Reaches Deal “In Principle” on Oil Output Cuts
OPEC+ reached a deal on Thursday that would see the group’s oil production cuts spill over into the new year—and at a level that is a deeper cut than is currently in place, delegates said following today’s JMMC meeting.
read more... 01/12/2023