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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.

Tags: big market oil output

 

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.

Tags: due mexico output mobil

 
 

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.

Tags: may day million oil

 

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.

Tags: record prices agree cut

 

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.

Tags: price war record deal

 

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