The Organization of the Petroleum Exporting Countries (OPEC) released its monthly report, noting that oil production has risen to 30 million barrels per day, representing an increase of 117,000 barrels per day since January. The additional production is mainly attributed to increased oil extractions…
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barrels of oil
Oil demand will exceed 100 million barrels
The International Energy Agency (IEA) expects global oil demand to grow by 1.9 million barrels per day (mb/d) in 2023, to a record 101.7 mb/d in total.
Regarding the data for 2022, the demand for crude oil by the OECD countries "collapsed"…
OPEC expects demand of 100 million barrels per day
The Organization of Petroleum Exporting Countries (OPEC) considers that the new omicron variant of Covid-19 will have a "slight and short-lived" impact on world demand for crude oil, for which it expects that consumption will exceed 100…
OPEC raised oil production in April
The Organization of the Petroleum Exporting Countries (OPEC) recorded an increase in its joint production of 26,000 barrels per day during the month of April, although it was still below its maximum quota, according to the monthly report…
Opep will seek to reactivate the oil market
This week, the members of the Organization of Petroleum Exporting Countries (OPEC), along with other producers such as Russia, will meet to try to find a way to reactivate this market.
A change in terms of the reduction of production,…
Oil demand will drop to 20 million barrels a day
The crisis generated by the pandemic will cause global oil demand to sink to 20 million barrels per day during the month of April, according to calculations by the Organization of the Petroleum Exporting Countries (OPEC).
In its monthly…