Sunday, June 26, 2022

opec

Opec sees global oil demand growth slowing in 2023, sources say

Fuel use has rebounded from the 2020 pandemic-induced slump but high prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

Oil price rises even as Opec boosts output more than expected

The Opec+ group decided to add 648,000 barrels per day to the market in July, up from the 432,000 bpd increases in recent months, and a shift from the cartel's recent stance of sticking to a planned pace of monthly production hikes.

Opec debates oil output boost amid Russian isolation

The 13 members of the Organization of the Petroleum Exporting Countries drastically slashed output in 2020 as demand slumped because of the coronavirus pandemic and worldwide lockdowns.

US allies agree to tap emergency oil reserves again

The IEA move will mark just the fifth time it has tapped its stockpiles since 1991.

US weighing largest ever draw from emergency oil reserve, sources say

It is unclear if the US Strategic Petroleum Reserve draw would be part of a wider global coordinated release.

Top oil producers may freeze output amid Omicron concerns

The Opec+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to rein in surging energy prices.

Malaysia stands to benefit from energy crisis, says economist

But despite the positive effects expected, the country should brace for the drawback of surging oil prices.

Opec+ abandons oil policy meeting after failing to reach consensus

The UAE and other producing nations want to raise their agreed output baselines to meet rising demand as pandemic restrictions are relaxed.

Apa sebenarnya di sebalik turun naik harga minyak?

Antara kuasa penawaran dan permintaan serta persaingan dalam pasaran menjadi penentu harga minyak.

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