Wednesday, January 20, 2021
  • Login
Procurement Nation
  • HOME
  • NASDAQ
    • NASDAQ: AAPL
    • NASDAQ: AMZN
    • NASDAQ: NFLX
  • NYSE
    • NYSE: BA
    • NYSE: WMT
  • LSE
    LSE – Castillo Copper (ASX:CCZ) considers divesting Broken Hill asset

    LSE – Castillo Copper (ASX:CCZ) considers divesting Broken Hill asset

    LSE – Sole trader – Doc Martens plans to go public and aims for a Ftse listing

    LSE – Sole trader – Doc Martens plans to go public and aims for a Ftse listing

    LSE – Lease negotiations with Thai reaching ‘critical phase’: AA4 | News

    LSE – Lease negotiations with Thai reaching ‘critical phase’: AA4 | News

    LSE – Qatar sovereign wealth fund plans Asia push to diversify from Europe, US, Economy News & Top Stories

    LSE – Qatar sovereign wealth fund plans Asia push to diversify from Europe, US, Economy News & Top Stories

    LSE – Qatar Wealth Fund Plans Asia Push to Diversify From Europe, U.S.

    LSE – Qatar Wealth Fund Plans Asia Push to Diversify From Europe, U.S.

    TSE – Japan PM Suga announces state of emergency for Tokyo area until Feb. 7

    LSE – Gran Tierra Energy Inc. Provides Update Regarding Proposed Sale of 218,012,500 Common Shares in PetroTal Corp.

    LSE – High-tech British firms eye U.S. listings in blow to post-Brexit London stock market

    LSE – High-tech British firms eye U.S. listings in blow to post-Brexit London stock market

    LSE – Euromoney Where will it end? Now Spacs might start buying listed companies

    LSE – Euromoney Where will it end? Now Spacs might start buying listed companies

    TSE – Japan PM Suga announces state of emergency for Tokyo area until Feb. 7

    LSE – Manchester & London Investment Trust Plc – Director/PDMR Shareholding

  • TSE
    Seplat Petroleum Development : Drives Growth in Domestic Gas Market

    TSE – Notice Concerning Results of Tender Offer for the Common Stock of Tokyo Dome Corporation (Securities Code: 9681) and Change in Subsidiary(252KB)

    Bragar Eagel & Squire, P.C. Investigates Sale of XLNX and Encourages Investors to Contact the Firm

    TSE – TOKAI : Certification of “Eruboshi (Third Stage)” based on the Act on Promotion of Women’s Participation and Advancement in the Workplace (176KB)

    TSE – World shares subdued despite strong growth data from China

    TSE – World shares subdued despite strong growth data from China

    TSE – Tokyo restaurant chains openly defy gov’t closure requests amid virus aid discrepancies

    TSE – Tokyo restaurant chains openly defy gov’t closure requests amid virus aid discrepancies

    TSE – The Ether Fund Offers Trading in Canadian Dollars

    TSE – MAG Silver Announces the Appointment of Jill Neff as Corporate Secretary

    TSE – The Ether Fund Offers Trading in Canadian Dollars

    TSE – Golden Predator Presents at Noble Capital Markets Conference

    TSE – Asia markets mostly close lower; dollar trades mixed

    TSE – Asia markets mostly close lower; dollar trades mixed

    TSE – The Ether Fund Offers Trading in Canadian Dollars

    TSE – Alcanna Inc. and YSS Corp. Announce Combination of Cannabis Retail Businesses to Form Nova Cannabis Inc. and Concurrent $25 Million Equity Financing

    TSE – Tokyo stocks keep sliding on coronavirus emergency worries

    TSE – Tokyo stocks fall on U.S. market drop, profit-taking

  • SUPPLIES
    • Energy Supplies
    • Lowe’s Inc.
No Result
View All Result
  • HOME
  • NASDAQ
    • NASDAQ: AAPL
    • NASDAQ: AMZN
    • NASDAQ: NFLX
  • NYSE
    • NYSE: BA
    • NYSE: WMT
  • LSE
    LSE – Castillo Copper (ASX:CCZ) considers divesting Broken Hill asset

    LSE – Castillo Copper (ASX:CCZ) considers divesting Broken Hill asset

    LSE – Sole trader – Doc Martens plans to go public and aims for a Ftse listing

    LSE – Sole trader – Doc Martens plans to go public and aims for a Ftse listing

    LSE – Lease negotiations with Thai reaching ‘critical phase’: AA4 | News

    LSE – Lease negotiations with Thai reaching ‘critical phase’: AA4 | News

    LSE – Qatar sovereign wealth fund plans Asia push to diversify from Europe, US, Economy News & Top Stories

    LSE – Qatar sovereign wealth fund plans Asia push to diversify from Europe, US, Economy News & Top Stories

    LSE – Qatar Wealth Fund Plans Asia Push to Diversify From Europe, U.S.

    LSE – Qatar Wealth Fund Plans Asia Push to Diversify From Europe, U.S.

    TSE – Japan PM Suga announces state of emergency for Tokyo area until Feb. 7

    LSE – Gran Tierra Energy Inc. Provides Update Regarding Proposed Sale of 218,012,500 Common Shares in PetroTal Corp.

    LSE – High-tech British firms eye U.S. listings in blow to post-Brexit London stock market

    LSE – High-tech British firms eye U.S. listings in blow to post-Brexit London stock market

    LSE – Euromoney Where will it end? Now Spacs might start buying listed companies

    LSE – Euromoney Where will it end? Now Spacs might start buying listed companies

    TSE – Japan PM Suga announces state of emergency for Tokyo area until Feb. 7

    LSE – Manchester & London Investment Trust Plc – Director/PDMR Shareholding

  • TSE
    Seplat Petroleum Development : Drives Growth in Domestic Gas Market

    TSE – Notice Concerning Results of Tender Offer for the Common Stock of Tokyo Dome Corporation (Securities Code: 9681) and Change in Subsidiary(252KB)

    Bragar Eagel & Squire, P.C. Investigates Sale of XLNX and Encourages Investors to Contact the Firm

    TSE – TOKAI : Certification of “Eruboshi (Third Stage)” based on the Act on Promotion of Women’s Participation and Advancement in the Workplace (176KB)

    TSE – World shares subdued despite strong growth data from China

    TSE – World shares subdued despite strong growth data from China

    TSE – Tokyo restaurant chains openly defy gov’t closure requests amid virus aid discrepancies

    TSE – Tokyo restaurant chains openly defy gov’t closure requests amid virus aid discrepancies

    TSE – The Ether Fund Offers Trading in Canadian Dollars

    TSE – MAG Silver Announces the Appointment of Jill Neff as Corporate Secretary

    TSE – The Ether Fund Offers Trading in Canadian Dollars

    TSE – Golden Predator Presents at Noble Capital Markets Conference

    TSE – Asia markets mostly close lower; dollar trades mixed

    TSE – Asia markets mostly close lower; dollar trades mixed

    TSE – The Ether Fund Offers Trading in Canadian Dollars

    TSE – Alcanna Inc. and YSS Corp. Announce Combination of Cannabis Retail Businesses to Form Nova Cannabis Inc. and Concurrent $25 Million Equity Financing

    TSE – Tokyo stocks keep sliding on coronavirus emergency worries

    TSE – Tokyo stocks fall on U.S. market drop, profit-taking

  • SUPPLIES
    • Energy Supplies
    • Lowe’s Inc.
No Result
View All Result
Procurement Nation
No Result
View All Result
Home Crude Supplies

Opec+ boost to leave market in precarious balance: IEA

Walter Byrd by Walter Byrd
October 15, 2020
in Crude Supplies
0
Opec+ boost to leave market in precarious balance: IEA




The outlook for oil “remains fragile” as the pandemic depresses demand, and Opec’s plans to increase supply next year will leave global markets precariously balanced, the International Energy Agency said.
“There is a risk that the demand recovery is stalled by the recent increase in Covid-19 cases in many countries,” the IEA said in its monthly market report.
At the same time, markets are set to receive fresh supplies in January as Opec and its partners relax some of the measures they’ve taken to prevent a glut. Once the taps are opened, “there is only limited headroom for the market to absorb” anything more, the Paris-based agency said.
The acceleration in virus infections is leading many in the market to question if the Organization of Petroleum Exporting Countries and its allies will increase supply from January. Producers inside the group are also having doubts, according to delegates. 
Global oil demand remains on track for an unprecedented 8% slump this year because of the economic fallout from the virus. To offset the drop, and prop up prices, the Opec+ alliance led by Russia and Saudi Arabia has made vast reductions in output.
Their measures have “shown some success,” depleting the world’s swollen inventories in the third quarter at a rate of 900,000 barrels a day, the IEA said. Crude futures are hovering just above $40 a barrel in London.
Yet the declines in inventories will slow markedly in the first half of next year, the report showed.
Having phased out some of the biggest supply cutbacks in August, Opec+ is due to ease them further. The 23-nation group will add about 1.9mn barrels a day in January, under the terms of an agreement set up earlier this year, in anticipation of stronger demand.
When those additional barrels arrive, stockpile drawdowns will decelerate. Weakening prices in the physical crude market, where real cargoes are bought and sold, suggest that the balance could easily be tipped if demand slows further or other producers raise output, the IEA said.
“The uncertain outlook that could see the drawdown of stocks falter is reflected in the fact that physical prices have weakened,” it said.
There has been a surprise return of output from Opec nation Libya, after a military commander allowed exports to resume. The IEA expects output from the nation – which is exempt from production quotas – to soar to 700,000 barrels a day in December from 140,000 last month.





Source link

RelatedPosts

Is It Time to Get Bullish on Oil Stocks?

gold rate today: Commodity strategies: Gold, silver, crude, base metals

Oil prices to go up for 3rd straight week

Previous Post

Bountiful harvest for oil palm planters

Next Post

Oil prices climb ahead of U.S. inventories data – Xinhua

Related Posts

Is It Time to Get Bullish on Oil Stocks?
Crude Supplies

Is It Time to Get Bullish on Oil Stocks?

January 19, 2021
gold rate today: Commodity strategies: Gold, silver, crude, base metals
Crude Supplies

gold rate today: Commodity strategies: Gold, silver, crude, base metals

January 19, 2021
Oil prices to go up for 3rd straight week
Crude Supplies

Oil prices to go up for 3rd straight week

January 19, 2021
Seven oil tankers bound for Syria intercepted in Red Sea: PM
Crude Supplies

Seven oil tankers bound for Syria intercepted in Red Sea: PM

January 19, 2021
LPG Market Faces Global Shortage  | Rigzone
Crude Supplies

LPG Market Faces Global Shortage  | Rigzone

January 19, 2021
Syria says will import more fuel to cover shortfalls caused by sanctions – Region – World
Crude Supplies

Syria says will import more fuel to cover shortfalls caused by sanctions – Region – World

January 19, 2021
Next Post

Oil prices climb ahead of U.S. inventories data - Xinhua

Procurement Nation

© 2020 PROCUREMENT NATION - Stock Market News

Procurement Nation

  • About
  • Our Team
  • Advertise
  • Privacy Policy
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • NASDAQ
    • NASDAQ: AAPL
    • NASDAQ: AMZN
    • NASDAQ: NFLX
  • NYSE
    • NYSE: BA
    • NYSE: WMT
  • LSE
  • TSE
  • SUPPLIES
    • Energy Supplies
    • Lowe’s Inc.

© 2020 PROCUREMENT NATION - Stock Market News

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In