Oil prices are expected to remain near current levels in 2020
OPEC
Posted inDRILLING & PRODUCTION
OPEC set for emergency meeting this week to discuss coronavirus implications
An emergency meeting of the group could be convened on February 8 and 9 or on February 14 and 15
Posted inDRILLING & PRODUCTION
Kuwait and Saudi Arabia reportedly start work on shared Khafji field
The two countries are working to restart production from the field, with output expected by the end of February
Posted inDRILLING & PRODUCTION
Oil price slide halts as OPEC mulls deeper output cuts or extension
The slide in oil prices was halted by news that OPEC+ could extend its existing output cuts, or potentially deepen them
Posted inDRILLING & PRODUCTION
OPEC could extend oil production cuts until June following coronavirus fears
Oil prices went up on the news that OPEC could extend cuts
Posted inDRILLING & PRODUCTION
OPEC reportedly considering deeper cuts following coronavirus fears
The price of Brent crude dropped to below $60 per barrel, a three month low
Posted inDRILLING & PRODUCTION
OPEC could extend oil cuts until end of 2020: TASS
Discussions are still in the early stages…
Posted inDRILLING & PRODUCTION
Brazil to discuss OPEC membership in Saudi Arabia in July
The South American producer could become OPEC’s latest member
Posted inDRILLING & PRODUCTION
Oil demand to exceed 100mbpd in 2020: OPEC
OPEC projects an increase in global demand to just over 100mbpd in 2020, a 1.22mbpd increase from 2019
Posted inDRILLING & PRODUCTION
Nigeria fully complied with OPEC cuts in December, says NOC head
However, S&P Global Platts’ latest survey of OPEC production estimated Nigeria’s December crude production at 1.84 million bpd