oil glut

  • OPEC Lowers 2020 Oil Demand Predictions

    OPEC Lowers 2020 Oil Demand Predictions

    Thursday, 13th August 2020

    The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic and there are also doubts about 2021's recovery.

  • Libya, Nigeria May Adjust Oil Output

    Libya, Nigeria May Adjust Oil Output

    Tuesday, 11th July 2017
    Libya and Nigeria, exempt from global oil cuts, may attend a joint meeting between members of the Organization of the Petroleum Exporting Countrys (OPEC) and non-OPEC nations late July as oil producers look for ways to cap rising production.
  • OPEC Might Adjust Oil Cut Deal

    OPEC Might Adjust Oil Cut Deal

    Monday, 10th July 2017
    OPEC delegates were encouraged by Russia to change the OPEC-led deal to cut oil supplies, opening the door to clear the global supply glut.
  • Iraq Exports 592m Barrels of Oil in 1H 2017

    Iraq Exports 592m Barrels of Oil in 1H 2017

    Tuesday, 4th July 2017
    Iraq exported more than 592m barrels of oil since January, according to the Oil Marketing Company SOMO.
  • Kuwait Oil Exports to Japan Increase 10.2% in May

    Kuwait Oil Exports to Japan Increase 10.2% in May

    Monday, 3rd July 2017
    Kuwait boosted crude oil exports to Japan by 10.2% in May, which is the first growth in four months.
  • Saudi Maintains Near-Record Crude Output

    Saudi Maintains Near-Record Crude Output

    Thursday, 4th August 2016
    Saudi Arabia keeps pumping at near-record levels to defend sales in Asia, its biggest market, amid an increase in global supply. In addition, Saudi Aramco, the state-run oil giant, said that both its drilling and IPO plans remain unchanged.
  • Riyadh and Moscow Propose to Freeze Oil Output

    Riyadh and Moscow Propose to Freeze Oil Output

    Tuesday, 16th February 2016
    Oil ministers of Saudi Arabia and Russia, Ali Al-Naimi and Alexander Novak, held talks in Qatar on 16th February to discuss the oil market amid a push for cooperation between OPEC and other major producers to tackle a global surplus.
  • Iran Nuke Deal Reached, Governments and Corporations Measure Ramifications

    Iran Nuke Deal Reached, Governments and Corporations Measure Ramifications

    Wednesday, 15th July 2015
    Iran and six world powers reached an agreement on Tuesday to lift sanctions against the Islamic Republic, and while U.S. and Iranian leaders have heralded the deal as a victory, the real winners could be corporations across the globe.
  • Balancing Physical Risks and Financial Gains Posed by Excess US Oil Storage

    Balancing Physical Risks and Financial Gains Posed by Excess US Oil Storage

    Wednesday, 25th March 2015
    Just as Wall Street says the U.S. is running out of room to store oil, it turns out there’s another 20 million barrels of empty space.