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IEA Warns Oil Market Falls Too Big to Offset with Output Cuts
2020-04-15 15:11:54| OGI
The IEA forecast a 9.3 MMbbl/d drop in demand for 2020 despite what it called a solid start by producers following a record deal to curb supply in response to the coronavirus pandemic.
Shell, Exxon Mobil Halt Some Gulf of Mexico Output Due to Pipeline Leak
2020-04-13 23:13:43| OGI
Production was temporarily halted at Shell's Perdido production hub. Production on Exxons Hoover platform also was halted because of the leak.
EIA: US Shale Oil Output to Drop to 8.5 Million Barrels Per Day in May
2020-04-13 21:56:49| OGI
Output at every formation is expected to fall in May, with the biggest drop forecast for the Permian Basin, the biggest basin in the country, the U.S. Energy Information Administration (EIA) said in a monthly forecast April 13.
Oil Prices Climb After OPEC+ Agree to Record Output Cut
2020-04-13 11:10:00| OGI
After four days of wrangling, OPEC, Russia and other oil-producing nations agreed to cut output by a record amount of 9.7 million bbl/d, representing around 10% of global supply.
Record deal to cut oil output ends price war
2020-04-12 22:26:21| BBC News | Business | UK Edition
Oil producing nations agree a deal that will see output reduced by nearly 10 million barrels a day.
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