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Road to Net Zero

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Road to Net Zero

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Opec

Latest news from the body based in Vienna, regulating global oil production and pricing

Opec+ stays on course over output increases despite rising cases in India

EnergyApril 27, 2021

Crude oil storage tanks at the WTI physical delivery point in Cushing, Oklahoma. WTI collapsed to below zero last year as US crude storage neared capacity. Reuters

US oil surges above $64 on anniversary of sub-zero plunge

EnergyApril 20, 2021

Workers at the Sirte Oil Company in Brega, Libya. The blockade has cost Libya $11bn in fiscal revenue. Reuters

Higher oil prices and economic recovery support lower fiscal breakeven prices for Middle East producers

EnergyApril 15, 2021

A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Texas. Opec said the higher prices seen in the crude commodity markets could prompt a higher level of US production. Reuters

Opec forecasts a recovery in the oil market and revises demand growth upward

EnergyApril 14, 2021

Apicorp chief executive Ahmed Attiga says the lender will go back to the market towards the second half of the year with a potential debt issuance of $500m to $1bn. Pawan Singh/The National

Apicorp looks at nearly $2bn worth of disbursements towards energy projects in 2021

EnergyApril 06, 2021

Oil rigs in Texas. Refinery runs are returning to normal, except for jet fuel. AP

Opec+ faces delicate balancing act as global economy begins to recover

CommentApril 04, 2021

An oil pump jack in the US. The IIF says a strong rebound in oil demand is unlikely in the short term amid rising supplies. Reuters.

Oil poised for gains as Opec+ decision proves price positive for markets

EnergyApril 03, 2021

The 'Energy Chancellor' crude oil tanker near the entrance of the Suez Canal. The new service by the DME will provide a 'consistent fair value' for sour crude barrels to the east of the Suez. Bloomberg

Russian oil production rose in March amid Opec+ exemption

EnergyApril 02, 2021

Opec+ had earlier deferred a planned increase in production of around 2 million barrels per day due to concerns over renewed lockdowns in several parts of the world.. Reuters

Oil prices rise as Opec+ agrees to gradually increase supply

EnergyApril 02, 2021

The plunge in the crude benchmarks 'got the oil bulls out of the dream of seeing the price of a barrel at $100,' said Ipek Ozkardeskaya, senior analyst at Swissquote.. Reuters

Commodity supercycle to persist for a few years, Saxo Bank says

EnergyMarch 16, 2021

Investors are pumping funds into commodities such as oil on expectations of a demand recovery in the coming months. Reuters

Brent crude stays near $70 as demand optimism lends support

EnergyMarch 12, 2021

Opec+ is cutting 7.2 million bpd from the market, supported by a continued voluntary cut commitment of 1 million bpd by Saudi Arabia. Reuters

Opec expects oil demand to recover in the second half of 2021

EnergyMarch 11, 2021

Workers at a Colgate Energy site in Texas. Brent and WTI have gained 30% since the beginning of the year, when news of vaccine distribution and a weak dollar moved the needle on prices. Bloomberg

Why US shale and oil producers may struggle to stage a comeback

EnergyMarch 10, 2021

Opec's headquarters in Vienna. Brent futures hit $69.36 after the Opec+ meeting last week. Reuters

Amid uncertainty this is what Opec+ can do to navigate a fragile market

CommentMarch 08, 2021

Saudi energy minister Prince Abdulaziz bin Salman asked producers to "keep their powder dry" to meet unforeseen contingencies. Reuters/Saudi Press Agency

Oil prices surge as Opec+ to keep output cuts unchanged

EnergyMarch 04, 2021

A Valero Energy refinery in Corpus Christi, Texas. Prices now are 25 per cent higher, compared with the previous financial year, with both Brent and West Texas Intermediate registering significant gains from persistent commodity supercycles. Bloomberg

Opec+ to convene amid robust recovery in global oil prices

EnergyMarch 03, 2021

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