For the first time in history, producers are paying buyers to take oil off their hands, as fears mount over storage capacity after demand has fallen dramatically. Ellen Wald is the president of Transversal Consulting and explains what’s happening. We look at how the Coronavirus pandemic is affecting Pakistan. The country has only 8,500 confirmed … Continue reading US oil prices turn negative
Opec producers and allies have agreed a record oil deal that will slash global output by about 10% after a slump in demand caused by coronavirus lockdowns.The deal, agreed on Sunday via video conference, is the largest cut in oil production ever to have been agreed.Opec+, made up of oil producers and allies including Russia, … Continue reading Record deal to cut oil output ends price war
Тhe African Petroleum Producers’ Organization (APPO) has followed with keen interest the Meeting of the OPEC+ or Declaration of Cooperation Partners which held on Thursday 9th April 2020 and the Meeting of the G20 Energy Ministers which held yesterday Friday 10th April 2020 aimed at halting and reversing the unprecedented volatility that came to characterize … Continue reading APPO commits to support OPEC+ efforts to stabilize the global oil market