Page 14 - Opec

OPEC sees world oil demand reaching pre-pandemic level in 2022

OPEC stuck to its forecast for a strong recovery in world oil demand in the rest of 2021, predicted oil use would rise further in 2022 similar to pre-pandemic rates, led by growth in China and India.

Oil falls over 1%; extends losses as investors brace for more supplies

Oil prices fell more than 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as US fuel stocks rose

Oil prices drop after Saudi Arabia and UAE reach output compromise

Under the compromise with Saudi Arabia, the UAE's baseline production will rise to 3.65 million barrels per day after the current pact expires in April 2022

OPEC+ impasse risks price war as demand surges for oil, says IEA

The IEA said market volatility stoked by the impasse served neither producers nor consumers and that while higher fuel prices could provide an impetus to developing more renewable energy

OPEC+ yet to make progress in resolving impasse preventing deal: Sources

OPEC+ is yet to make progress closing divisions between Saudi Arabia and United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely

Oil prices rise for the second straight day as US inventories decline

US West Texas Intermediate futures were up $1.41, or 1.9 per cent, at $74.35.

Oil mixed as US crude, gasoline inventories draw offset by OPEC+ standoff

Oil prices were mixed after a boost from a drop in US crude and gasoline inventories, but were still set for a weekly decline on concerns that an OPEC+ impasse could swell global crude supplies

Oil prices fall in volatile trade as investors seek OPEC+ clarity

Oil prices fell more than $1 a barrel on Wednesday in another seesaw trading session, as investors feared what this week's collapse in Opec+ talks meant for worldwide production

Oil on the boil

Domestic production of oil and gas has been lagging

Oil rises to $75 after tumble but OPEC+ uncertainty clouds outlook

A failure of OPEC+ talks on Monday means a planned output rise for August has yet to be agreed

Oil price gains threaten central banks' transitory inflation narrative

OPEC+ brinkmanship has taken oil prices towards $80 a barrel, the highest since 2018, threatening to upend central banks' transitory inflation narrative as well as the post-pandemic economic recovery

Oil prices steady after steep drop as market awaits OPEC+ clarity

Brent crude was up 3 cents at $74.56 a barrel by 0115 GMT, after slumping more than 3% on Tuesday. US oil was up 7 cents at $73.44 a barrel, having declined by more than 2% in the previous session

Oil slides from multi-year highs after OPEC cancels meeting

(Reuters) - Oil slipped on Tuesday, pulling back from its recent rally, after OPEC+ producers cancelled a meeting due to clashes over plans to increase supply to meet rising global demand.

With oil market in limbo, here's how analysts see things playing out

If there's no increase in production, then oil at $85 to $90 a barrel is on the cards, Fereidun Fesharaki, chairman of industry consultant FGE, said in a Bloomberg TV interview

WTI crude hits 6-year high, Brent nears $78 as OPEC+ talks collapse

OPEC+ talks collapse after Saudi-UAE clash; White House urges compromise to allow output increase

Oil rises further on hopes of tighter supply as OPEC+ talks abandoned

Oil prices rose slightly on Tuesday after the previous day's rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off

OPEC oil alliance in standoff between Saudi Arabia and UAE

The OPEC oil cartel led by Saudi Arabia and other allied producing countries resumed talks on Monday amid a standoff with the United Arab Emirates

OPEC+ crisis deepens as Saudi Arabia refuses to budge, oil edges up

OPEC and its allies on Friday voted to increase production by about 2 million barrels a day from August to December 2021 extend the remaining output cuts to the end of 2022

UAE rebuffs plan by OPEC, allies to extend production pact

UAE on Sunday pushed back against a plan by the OPEC oil cartel and allied producing countries to extend the global pact to cut oil production beyond April 2022 revealing country's frustration

OPEC+ fails to reach output deal with talks kicked to Monday

Negotiations will resume next week after what's likely to be a weekend of furious diplomacy. The U.S. has already voiced concerns about rising gasoline prices as oil tops $75 a barrel.