Friday, November 29, 2024
OPEC chief says rising infections may delay oil recovery- oil and gas 360

OPEC chief says rising infections may delay oil recovery

Reuters LONDON – OPEC’s secretary general said on Monday an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. The Organization of the Petroleum Exporting Countries and allies including Russia made a record oil output cut in April as the pandemic

Exclusive: Russia's tainted oil dispute drags on as buyers fight for payouts- oil and gas 360

Exclusive: Russia’s tainted oil dispute drags on as buyers fight for payouts

Reuters MOSCOW  – Four major buyers of Russian oil are contesting the amount of compensation pipeline monopoly Transneft TRNF_p.MM has offered over the supply of tainted barrels more than a year ago, three sources told Reuters, raising the prospect of legal action. Up to 5 million tonnes of Russian oil were contaminated with organic chlorides on their way to Europe via

Libya’s ramped-up oil output throws another wrench at prices and OPEC’s plans- oil and gas 360

Libya’s ramped-up oil output throws another wrench at prices and OPEC’s plans

CNBC A truce in Libya has busted open a renewed source of oil supply, further threatening the commodity’s faltering recovery from its historic drop earlier this year. Libya’s main warring factions signed a purportedly permanent truce last week, a month after a blockade on the country’s oil exports by one faction in the country’s six-year-long civil war was lifted. This