In its most recent report, OPEC forecasts a sustained increase in demand for crude oil until 2025, taking as a reference the requirements in the transport and technology sectors.
The report of the Organization of Petroleum Exporting Countries, published this Monday, indicates that the increase in…
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OPEC
OPEC+ cut in November equals 2 % of global demand
The recently announced decision by OPEC + to reduce daily production by 2 million barrels will be applied from November. The decision was published in a declaration at the end of the 33rd Ministerial Meeting of Members and non-OPEC Members.…
Barrel of oil stands at 91 dollars
The price of a barrel of Brent oil, a benchmark for Europe, exceeded the quota of 91 dollars before the opening of the markets of the Old Continent with an eye on the meeting to be held this week in Vienna by the representatives of the…
OPEC: Venezuela’s oil production rose 94,000 barrels in August
The Organization of Petroleum Exporting Countries has indicated that during the month of August Venezuela experienced a 14 % increase in production, reaching 94,000 bpd.
According to the OPEC report, with the figures for Venezuela, in…
Oil market is in a “state of schizophrenia”
The Organization of Petroleum Exporting Countries (OPEC) warned that the crude oil market is operating under a "state of schizophrenia", so it is not sending the right signals to be balanced, according to its monthly report on the market.…
Oil demand will exceed pre-pandemic levels
Global oil demand will exceed the level before the Covid-19 pandemic until 2023, according to the International Energy Agency (IEA), which estimates that world crude oil consumption will reach 101.6 million barrels per day (mb /d).
In its…
Venezuelan oil exports drop in April
Venezuela registered an average oil production of 420,000 barrels per day in April, some 410,000 barrels per day less than the goal established by PDVSA, which projected some 830,000 barrels per day of production for last month.
According…
OPEC will increase its oil supply in June
The Organization of Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, decided to increase their joint crude oil production by 432,000 barrels per day starting next June, they reported in a statement.
At the end…
Fragility of the oil industry limits its recovery
Asdrúbal Oliveros, economist and director of Ecoanalítica, stressed that the Venezuelan oil industry is experiencing "an unprecedented fragility and vulnerability in the country" that limits the recovery of the oil sector, despite…
Venezuelan oil production increased 4 % in February
The Organization of Petroleum Exporting Countries (OPEC) reported in its monthly report that Venezuelan oil production increased by 4 % in February compared to January pumping, based on official figures.
The information highlights that the…
OPEC confirms increase in oil production
The Organization of Petroleum Exporting Countries (OPEC), together with its 10 allies, confirmed that starting in April, oil production will grow by 400,000 barrels per day.
This increase had already been discussed previously in July of…
OPEC + will increase its production by 400,000 barrels per day
The ministers of the oil sector of the 23 countries that make up OPEC+ (OPEC and allies) decided to increase their oil production to 400,000 barrels per day during the month of February, despite the uncertainty that the world is…