OPEC and allies including Russia are leaning towards delaying next year’s planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, three sources close to OPEC+ said. OPEC+ was due to raise output by 2 million barrels per day (bpd) in Read More…
Oil dipped below $45 a barrel, on Friday, on worries that a demand recovery would slow due to a resurgence of coronavirus cases. Although a pledge from OPEC member, Iraq to cut oil output further in August, provided support. The resurgence of infections remains a key issue for the market and demand outlook. Tallies show Read More…