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 latest monthly bulletin, the agency attached to the…
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OPEC
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…
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…
Goldman Sachs forecasts rise in global oil demand
Goldman Sachs estimates that oil demand will continue to rise in 2022, reaching a record level, largely thanks to fuel requirements for the transportation and aviation sectors, if the gradual reopening of the borders is taken into account.…
Venezuela increased its oil production to 625 thousand barrels a day
The Organization of Petroleum Exporting Countries (OPEC) published in its November report that Venezuela increased its oil production for the fourth consecutive month, achieving an average of 625,000 barrels per day, which represents an…
OPEC will continue to increase oil production
The ministers of the Organization of the Petroleum Exporting Countries (OPEC) and the representatives of the allied producers, led by Russia, which together form the so-called OPEC +, agreed to go ahead with the gradual increase in the…
Barrel Brent passes the $ 85 mark
The price of Brent oil, the benchmark for Europe, surpassed the threshold of $ 85 per barrel on Friday for the first time since 2018, fueling pressures on energy prices and inflation.
However, after the opening of the markets of the Old…