Tag Archives: Oil Market

Hedge funds are bracing for more trouble in the oil market. even after crude rebounded for a second week on hopes the coronavirus outbreak’s threat to economic growth is waning.

The Iranian ambassador and permanent representative to international organizations in Vienna met with the OPEC secretary-general to discuss the oil market developments.

The two sides(Iranian Envoy. OPEC Chief) highlighted sustainability of the oil market serving the interests of both consumers and producers.

OPEC is to hold a meeting at the level of minister in Vienna. Austria. on March 5.

OPEC+ oil ministers will meet in Vienna on March 6.

OPEC+ is still waiting for Russia to clarify its position on deeper oil output cuts.

Three of the world’s largest oil traders are seeking to store crude on tankers at sea as the industry tries to deal with a glut that’s emerged since the outbreak of the coronavirus in China.

The U.S. is preparing to step up enforcement of international rules limiting sulfur in ship fuel.

Producers are weighing further output cuts and moving a planned policy meeting to February rather than March.

Chinese oil demand has dropped by about 3 million barrels a day. or 20% of total consumption. as the coronavirus squeezes the economy. according to people with inside knowledge of the country’s energy industry.