Wednesday , February 8 2023
Home / Tag Archives: OPEC (page 4)

Tag Archives: OPEC

Rising oil prices cast shadow over global economic recovery

  Valletta, Malta | Xinhua | Global oil demand is rising following an accelerated vaccination campaign and an economic recovery, pushing oil prices to two-and-a-half-year highs amid an output deficit. Although an agreement for more output reached among the Organization of the Petroleum Exporting Countries (OPEC) and its allies on July …

Read More »

Global oil demand to record historic growth in 2021: OPEC

Kampala, Uganda | XINHUA | The Organization of the Petroleum Exporting Countries (OPEC) predicts that global oil demand will register a historic high growth of seven million barrels per day (b/d) in 2021, although it will remain far below the pre-COVID-19 level. While the oil market is still ravaged by …

Read More »

Virus crisis adds to woes of Africa’s oil producers

  Libreville, Gabon | AFP | For years, African oil-exporting countries have vowed to wean themselves off crude — but for many, this uphill task may become mountainous after the coronavirus pandemic caused the energy market to collapse. Here is a snapshot of how sub-Saharan oil exporters are faring: – Who …

Read More »

OPEC sees oil market already rebalancing

Paris, France | AFP | The rebalancing of the oil market is underway and will accelerate, the OPEC cartel said Wednesday, days after some of its members voluntarily increased their production cuts. The world oil market was thrown into disarray earlier this year as lockdown measures imposed by governments to slow the spread of the …

Read More »