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China is. by far. the biggest market for OPEC+ crude exports. with the big Arabian Gulf producers particularly vulnerable.
Read More »OPEC Needs to Cut a New Deal and Fast
China Oil Demand Has Plunged 20% Because of the Virus Lockdown
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.
Read More »Russia. Saudi Arabia Confirm Readiness to Cooperate in OPEC+ Format
The OPEC+ production reduction pact aimed at stabilizing crude prices is valid until the end of March 2020.
Read More »Russia. Saudi Arabia Confirm Readiness to Cooperate in OPEC+ Format
The OPEC+ production reduction pact aimed at stabilizing crude prices is valid until the end of March 2020.
Read More »UAE Announces Major Gas Find
The UAE wants to achieve gas self-sufficiency and possibly become a net gas exporter.
Read More »Market Balance. a Necessity
The oil market was under pressure because of coronavirus outbreak and as a result the oil price had fallen to below $60 per barrel. adding. Efforts must be made to ensure the market balance.
Read More »OPEC+ Struggles with Oil’s Sharp Fall
The coronavirus has claimed more than 360 lives.
Read More »OPEC+ Panel Weighs Impact on Oil Demand from Virus
Iraq. OPEC’s second-biggest oil producer. supports any agreement that would stabilize the market.
Read More »UAE Finds World’s Biggest Gas Field since 2005
Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates.
Read More »OPEC+ Heavyweights Divided on Need for Urgent Response to China Virus
China is the oil market’s primary source of demand growth and measures taken to slow the spread of the coronavirus.
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