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Tag: OPEC


Energy, Industry Focus Areas

OPEC+’s Warning Shot

September 5, 2022

Via: The Wall Street Journal

Russia is using natural gas to punish Europe. Oil hasn’t yet been similarly weaponized, but talk of buyers imposing a price cap raises the risk that it could be. The Organization of the Petroleum Exporting Countries and Moscow-led allies decided […]


Energy, Industry Focus Areas

Saudis, Allies Open Door to Oil-Output Cut to Keep Prices High

August 23, 2022

Via: The Wall Street Journal

Saudi Arabia and some of its oil-producing allies have suggested cutting crude production, disappointing U.S. officials who predicted the kingdom would be instrumental in cooling the market after President Biden met Crown Prince Mohammed bin Salman for the first time […]


Energy, Industry Focus Areas

OPEC+ Oil Boost Unlikely to Ease Fuel Prices

June 30, 2022

Via: Transport Topics

The OPEC oil cartel and allied producing nations decided June 30 to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy. The […]


Energy, Industry Focus Areas

OPEC, Russian Oil-Output Increases Fall Short of Promises

January 25, 2022

Via: The Wall Street Journal

OPEC and its Russia-led partners have promised to increase oil production to pre-pandemic levels this year but are falling short of those public commitments, stoking fast-rising global crude markets. Last month, the Organization of the Petroleum Exporting Countries and its […]


Energy, Industry Focus Areas

High Energy Prices Likely to Mean Less Oil Demand This Year, OPEC Says

November 11, 2021

Via: The Wall Street Journal

Soaring energy prices are likely to crimp demand for oil in some of the world’s fastest-growing economies this year, the Organization of the Petroleum Exporting Countries said Thursday. In a closely watched monthly market report, OPEC said global demand for […]


Energy, Industry Focus Areas

OPEC+ Can Proceed With Reviving Supply, Key Members Say

September 21, 2021

Via: Transport Topics

OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. “The plan is working, we’re gradually increasing and the market is absorbing it,” United […]


Energy, Industry Focus Areas

OPEC+ Expected to Stick to Planned Output Hike

August 27, 2021

Via: Transport Topics

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. The coalition led by Saudi Arabia and Russia gradually is restoring […]


Energy, Industry Focus Areas

OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks

March 2, 2021

Via: Transport Topics

OPEC’s crude production plunged in February as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut. Output from the group fell by 920,000 barrels a day — the biggest drop in eight months — […]


Energy, Industry Focus Areas, Logistics, Process

US Imports No Saudi Crude Oil for First Time in 35 Years

January 6, 2021

Via: Transport Topics

The U.S. didn’t import any Saudi crude the week of Dec. 28 for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American energy industry by unleashing a tsunami of […]


Energy, Industry Focus Areas

Oil’s Brief Rally Fades With Supply Risks Countering Stimulus

December 28, 2020

Via: Transport Topics

A brief rally in crude oil deflated Dec. 28 as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+. Futures in New York were little changed in […]


Energy, Industry Focus Areas

Oil Slips From Nine-Month High With Markets in Risk-Off Mode

December 7, 2020

Via: Transport Topics

Oil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets. Crude futures were down 0.9% in New York, with the dollar rising and European equities and U.S. stock futures declining. Oil rallied last […]


Energy, Industry Focus Areas

OPEC+ Meets to Seek Compromise on Plan to Delay Output Hike

November 30, 2020

Via: Transport Topics

OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market. The coalition that pumps half the world’s crude is debating […]


Industry Focus Areas, Motorized Vehicle, Process, Production

Electric Vehicle Growth Could See Oil Demand Peak By 2030

February 20, 2018

Via: Forbes

Increasing adoption of electric vehicles threatens oil demand, which could plausibly peak before 2030, according to a new report. In a note to its clients, Fitch Ratings said developments in 2017 show how technological changes and greater product awareness could […]