DUBAI/MOSCOW/LONDON OPEC, Russia and their allies will stick to plans for a phased easing of oil production restrictions from May to July amid upbeat forecasts for a recovery in global demand and despite surging coronavirus cases in India, Brazil and Japan.
LONDON/DUBAI/MOSCOW OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, after the new U.S. administration called on Saudi Arabia to keep energy affordable, mirroring Donald Trump's practice of calling OPEC's leader over oil policy.
DUBAI/LONDON/MOSCOW (Reuters) -OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market's recovery as new coronavirus lockdowns take hold, a move that could strengthen the case for a cautious output decision this week.
DUBAI/LONDON/MOSCOW Saudi Arabia is prepared to support extending oil cuts by OPEC and its allies into June and is also ready to prolong its own voluntary cuts to boost prices amid a new wave of coronavirus lockdowns, a source briefed on the matter said on Monday.
DUBAI/MOSCOW OPEC and its allies agreed to extend most oil output cuts into April, offering small exemptions to Russia and Kazakhstan, after deciding that the demand recovery from the coronavirus pandemic was still fragile despite a recent oil price rally.
DUBAI/MOSCOW, March 4 OPEC and its allies in
will decide on Thursday whether to freeze oil output or raise it
slightly from April as a recent price rally is clouded by
concern over the fragility of economic recovery during the
LONDON OPEC and other oil producers, a group known as OPEC+, are considering rolling over production cuts into April instead of raising output as a recovery in oil demand remains fragile due to the coronavirus crisis, three OPEC+ sources told Reuters.