• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 49 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 9 hours China's aggression is changing the nature of sovereignty.
  • 19 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 22 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 1 day OPEC+ Expects Large Oil Glut In Early 2022
  • 4 hours Ukrainian Maidan after 8 years
  • 21 hours NordStream2
  • 4 hours Delta variant in European Union
  • 18 hours President Biden’s Nuclear Option Against OPEC+ - Waste of Time
  • 1 day Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 1 day Forecasts for Natural Gas
  • 4 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 2 days Big Bounce: Russian gas amid market tightness - new report by Oxford Institute for Energy Studies
Florida Startup Offers Solution To Decades-Old Pipeline Puzzle

Florida Startup Offers Solution To Decades-Old Pipeline Puzzle

Florida-based company Trans Caspian Resources…

Editorial Dept

Editorial Dept

More Info

Premium Content

OPEC Won’t Be Rushed By Coronavirus Fears

Market Movers

- The predominant theme in the oil markets is still the coronavirus and its effects on oil demand. This week, traders were waiting to hear whether Russia would be on board with deeper production cuts, but hopes were dashed on Thursday as OPEC and Russia announced that it would not move up its March 5-6 meeting to discuss the options earlier than planned, implying that Russia was probably not on board, as suspected. The decision to not move the meeting up highlights the lack of urgency among the cartel and its friends now that oil prices have rebounded somewhat this week. The cartel is clearly hopeful that waiting another two weeks will give them a better idea of how long the coronavirus outbreak will last and how the demand picture will shake out, likely weighing disturbing economic data from China such as coal usage, traffic patterns, and property sales that show a still-paralyzed economy, versus China’s insistence that activity is already returning to normal. In addition to the cartel’s preference for waiting for another couple of weeks to assess the necessity of extended or deeper cuts, whatever is decided will take a bit of time to implement, meaning that production and inventory relief is not just around the corner either way.

- As the coronavirus continues to undermine the LNG market, cancellations of cargoes are being closely watched. This week, Naturgy Energy Group SA (a giant Spanish utility owner) canceled two cargoes from US…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News