Vienna, Austria | Xinhua | The head of the Organization of Petroleum Exporting Countries (OPEC) on Wednesday called on global leaders to uphold multilateralism to ensure “unhindered, stable and secure” energy flow to the global market. OPEC Secretary-General Mohammad Sanusi Barkindo made the remarks at a virtual meeting of the joint …
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New York, US | Xinhua | Global oil market will rely more on the Middle East as U.S. shale oil production is expected to continue to fall, according to industry experts. U.S. shale oil production will fall by 900,000 barrels per day in 2020 and drop another 1.1 million barrels per …
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Paris, France | AFP | The rebalancing of the oil market is underway and will accelerate, the OPEC cartel said Wednesday, days after some of its members voluntarily increased their production cuts. The world oil market was thrown into disarray earlier this year as lockdown measures imposed by governments to slow the spread of the …
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Paris, France | AFP | The OPEC oil cartel said Thursday that the world market for crude is undergoing an unprecedented jolt due to coronavirus mitigation measures that have decimated demand. “The oil market is currently undergoing a historic shock that is abrupt, extreme and at global scale,” said the group …
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