Thursday, March 13, 2025
OPEC+ oil output cuts compliance falls to 75% in Dec -Petro-Logistics- oil and gas 360

OPEC+ oil output cuts compliance falls to 75% in Dec -Petro-Logistics

Reuters LONDON – OPEC+ compliance with pledged oil output curbs fell to 75% in December, among the lowest levels since the supply pact started in May 2020, tanker tracker Petro-Logistics said on Tuesday. This is a lower estimate of compliance by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+ than others have reported. A trend of

Third of oil and gas workers faced pay cut in 2020 due to pandemic, survey shows- oil and gas 360

Third of oil and gas workers faced pay cut in 2020 due to pandemic, survey shows

Reuters LONDON – Almost one in three workers in the oil and gas industry faced pay cuts in 2020, a worldwide survey showed on Tuesday, as the coronavirus crisis drove down fuel demand and prices. Oil and gas workers are still among the highest paid in the world, but a majority of those questioned said they felt less secure about

Oil hits 11-month high towards $57 as Saudi cut supports- oil and gas 360

Oil hits 11-month high towards $57 as Saudi cut supports

Reuters LONDON – Oil hit an 11-month high towards $57 a barrel on Tuesday as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally. Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to stop inventories from building up. The latest U.S.