2022-08-08 12:25:00
OIL NEED INVESTMENT $12 TLN
AN- August 04, 2022 - The oil sector needs $12 trillion worth of investments in the years up to 2045, the secretary-general of the Organization of the Petroleum Exporting Countries told CNBC Arabia.
It is “a huge and staggering number,” Haitham Al-Ghais added.
Al-Ghais noted that oil investments have not yet returned to pre-pandemic levels. He said it is difficult to forecast oil markets due to the current global economic conditions.
“Sharp fluctuations make it difficult for anyone to predict a deficit or surplus in production for this year,” he explained.
The official said: “It’s too early to say we’re in a recession.”
The organization wants more investments in the energy exploration sector, he said.
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Earlier:
2022, August, 3, 12:35:00
NEW OPEC SECRETARY GENERAL
His Excellency Haitham Al Ghais of Kuwait took office as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) at the Organization’s Secretariat in Vienna, Austria.
2022, August, 3, 12:25:00
OPEC+ PRODUCTION IS STABLE
The Joint Technical Committee of OPEC+, which includes Russia, trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day to 800,000 bpd
2022, August, 1, 11:05:00
ОПЕК+ РОССИЯ И САУДОВСКАЯ АРАВИЯ
Было подчёркнуто, что Россия и Саудовская Аравия твёрдо привержены цели соглашения ОПЕК+ по сохранению рыночной стабильности и восстановлению баланса спроса и предложения.
2022, July, 8, 14:40:00
OPEC+ PRODUCTION UP BY 390 TBD
Combined, OPEC+ crude production rose to a three-month high of 42.09 million b/d of June,
2022, June, 22, 09:45:00
OPEC+ ZERO PRODUCTION
The final boost will come in August. By then, OPEC+ will be running out of spare production capacity.
2022, June, 2, 11:35:00
OPEC + RUSSIA STRENGTHENING
Meanwhile those with spare capacity – primarily Saudi Arabia and the UAE – have held off on breaching their quotas to maintain OPEC+ unity rather than spark a market share battle.
2022, May, 6, 11:20:00
OPEC+ RUSSIA + 0.432 MBD
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.432 mb/d for the month of June 2022, as per the attached schedule.
