The ministers of the Organization of Petroleum Exporting Countries (OPEC) and the representatives of the allied producers, led by Russia, who together form the so-called OPEC +, have agreed to go ahead with the gradual increase in the supply of crude oil by 400,000 barrels per day to February 2022,…
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Oil prices rebound as OPEC discusses production cuts
Oil price continues to climb to maximum levels since the beginning of January 2020, after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC +.
In this way, the price of a barrel of Brent…
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 grow in 2021
World oil demand will record a record annual increase of 7 million barrels per day next year, although this historic rebound driven by the expected recovery in the economy will be insufficient to return global oil consumption to the level…
OPEC production increased in April
The Organization of the Petroleum Exporting Countries (OPEC) increased its daily production by 1,789 million barrels during the month of April as a consequence of the expiration of the cut agreement that they had with other oil-producing…
Brent price suffered a new decrease
This Friday the cost of a barrel of Brent oil fell by 0.39% in price to reach 27.71 dollars.
After several weeks of uncertainty, when the price of Brent was seen to drop considerably due to the coronavirus, this trend continues despite the…
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…
OPEC agrees to cut production
The Organization of the Petroleum Producing Countries (OPEC) reached an agreement to reduce 9.7 million barrels of crude oil daily from May 1st.
On April 9, the OPEC countries, with the exception of Mexico, agreed in an extraordinary…