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2020-03-02 12:55:00

OPEC+ OIL CUTS

OPEC+ OIL CUTS

PLATTS - 28 Feb 2020 - Saudi Arabia and Russia will test the bonds of their OPEC+ covenant when they meet in Vienna next week to debate another round of production cuts to stem the oil market's COVID-19 rout.

Oil prices have fallen about a quarter since late January, when news of the coronavirus outbreak began spooking traders, with the sell-off accelerating this week to hit a nearly three-year low.

But despite heavy lobbying by Saudi Arabia, the 23-country coalition of OPEC and non-OPEC producers has yet to agree on any plans to rein in crude…

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Earlier:

OPEC+ OIL CUTS
2020, February, 28, 15:45:00
OIL PRICE: NEAR $51
Brent was down $1.74, or 3.3%, at $49.99 a barrel, WTI fell $1.89, or about 4%, to $45.20.
OPEC+ OIL CUTS
2020, February, 26, 10:35:00
OIL PRICE: NEAR $55
Brent rose 33 cents, or 0.6%, to $55.28 a barrel, WTI gained 41 cents, or 0.8%, to $50.31 a barrel.
OPEC+ OIL CUTS
2020, February, 24, 10:50:00
OIL PRICE: NEAR $57
Brent fell by $1.42, or 2.4%, to $57.08 a barrel, WTI fell by $1.26, or 2.4%, to $52.12.
OPEC+ OIL CUTS
2020, February, 21, 12:30:00
OIL MARKET: NOTHING URGENT
Despite the partial recovery, oil prices are still far below the level many OPEC members need for their budgets to balance.
OPEC+ OIL CUTS
2020, February, 19, 11:55:00
GLOBAL OIL DEMAND 2020: 100.73 MBD
Oil demand growth in 2020 is revised down by 0.23 mb/d from the previous month’s assessment. With this, global oil demand is now forecast to grow by 0.99 mb/d and average 100.73 mb/d for 2020,
OPEC+ OIL CUTS
2020, February, 19, 11:50:00
GLOBAL PETROLEUM DEMAND WILL UP BY 1.0 MBD
EIA now expects global petroleum and liquid fuels demand will rise by 1.0 million b/d in 2020, which is lower than the forecast increase in the January STEO of 1.3 million b/d in 2020, and by 1.5 million b/d in 2021.
OPEC+ OIL CUTS
2020, February, 14, 12:10:00
CHINA'S CORONAVIRUS: NO AFFECT
The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically affect oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan Brouillette told
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Tags: OPEC, OIL, PRICE, RUSSIA, SAUDI ARABIA
Chronicle:
OPEC+ OIL CUTS
2021, January, 22, 11:14:00
POWER WEEK ASIA 2021: Lifelike Virtual Conference for Power & Energy Experts
The 6th annual POWER WEEK ASIA Virtual Conference (15 - 18 March 2021) is now open for registration. Across 4 days, we will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world.
OPEC+ OIL CUTS
2021, January, 22, 11:13:00
POWER WEEK AFRICA 2021: An Interactive Virtual Summit for Power & Energy Professionals
Specially designed for the African electric power & energy industry, POWER WEEK AFRICA (20 - 23 April 2021) is the 3rd annual international virtual conference delivering a unique experience for each day of the event.
OPEC+ OIL CUTS
2021, January, 22, 11:10:00
U.S. IN CLIMATE
Paris Climate Agreement
OPEC+ OIL CUTS
2021, January, 22, 11:05:00
GLOBAL HYDROGEN DEMAND UPDOWN
Global hydrogen demand is currently dominated by the refining and ammonia production industries that primarily use natural gas as a feedstock.
OPEC+ OIL CUTS
2021, January, 22, 11:00:00
BRITAIN NEED NUCLEAR POWER
The UK government must continue to support nuclear power generation if the country is to meet an expected doubling of electricity demand by 2050 while meeting its Net Zero ambitions,
OPEC+ OIL CUTS
2021, January, 22, 10:55:00
BANGLADESH COAL POWER 1.3 GW
Coal-fired capacity, which was multiplied by 4.5 over 2017-2019 (from 250 MW to over 1.1 GW), accounts for 6% of Bangladesh’s installed capacity (2019).
OPEC+ OIL CUTS
2021, January, 22, 10:50:00
VIETNAM COAL POWER 1.2 GW
The Prime Minister of Vietnam has authorised the 1,200 MW (2x600 MW) Quang Trach 2 coal-fired power project in the Quang Binh province.
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