Oil News in Austria

OPEC to Raise Oil Production in January 2021
OPEC to Raise Oil Production in January 2021 12/3/2020 - The Meeting welcomed the new Russian Minister of Energy, HE Nikolai Shulginov. The Meeting recalled the rights of peoples and nations to permanent sovereignty over their natural wealth and resources. ...
OPEC Launches 2020 Edition of the World Oil Outlook
OPEC Launches 2020 Edition of the World Oil Outlook 10/8/2020 - The 2020 OPEC World Oil Outlook (WOO) was launched in Vienna, Austria, providing the OPEC Secretariat’s in-depth look at the unprecedented scale and impact of the COVID-19 pandemic on the global energ...
OPEC & Non-OPEC Reaches Deal to Cut Oil Production by 9.7 mb/d
4/12/2020 - The 10th (Extraordinary) OPEC and non-OPEC Ministerial Meeting was held via videoconference,12 April 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy...
Oil Falls on U.S. Inventory Build, Shale Oil Output Forecasts
3/6/2019 - Oil prices fell on Wednesday as bullish output forecasts by two big U.S. producers and a build in weekly U.S. crude stockpiles outweighed OPEC-led production cuts. ...
Crude Oil Prices Rebound
2/26/2019 - Oil prices rose after a report of declining crude inventories in the country and as producer club OPEC seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump. ...
Oil Price Swings & Trump's Sanctions
2/6/2019 - During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volatility that analysts warn could be the new normal in...
Will OPEC Reduce Production in December Meeting?
Will OPEC Reduce Production in December Meeting? 12/4/2018 - Oil prices fell to their lowest level during a volatile session by signs of oversupply amid bleak economic prospects. The drop came despite market expectations that the Organization of the Petroleum E...
OPEC Agrees to Cut Output by 1.2m Barrels a Day
12/1/2018 - OPEC and its oil-producing allies reached an agreement to cut production by 1.2m barrels a day. The deal was hammered out at the OPEC Secretariat in Vienna. The 1.2m b/d cut will be split 800,000 b/d ...
Oil Prices Hit Fresh 4-Year High Above $82
Oil Prices Hit Fresh 4-Year High Above $82 9/30/2018 - The rise in crude oil prices above $82 a barrel has led to more predictions of $100 a barrel around the end of the year. A supply crunch is to blame, just as winter is coming – the US has reimposed sa...
Oil Nears $80 per Barrel by Decrease Iranian Production
Oil Nears $80 per Barrel by Decrease Iranian Production 9/5/2018 - The price of OPEC basket of fifteen crudes stood at $76.32 a barrel on Tuesday, compared with $75.77 the previous day, according to OPEC Secretariat calculations. ...
OPEC Producers Key to World Supply through to 2040
7/16/2018 - Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in th...
SOCAR Energy Holdings Acquires A1 Petrol Stations in Austria
12/19/2017 - SOCAR Energy Holdings (SOCAR's Swiss subsidiary) is announcing its entry into the Austrian retail fuel market by taking over petrol station operator A1, as well as mineral oil trading company Pronto O...
Non-OPEC Oil Supply Highlights in 2018 - November 2017
Non-OPEC Oil Supply Highlights in 2018 - November 2017 11/21/2017 - Non-OPEC supply in 2018 was revised down by 94 tb/d compared to last month’s analysis to average 58.54 mb/d, and now is expected to grow at a slower pace, which was also revised down by 71 tb/d to 0.8...
Recent Developments in Global Oil Inventories - November 2017
11/13/2017 - Over the years 2014 through 2016, global oil inventories grew rapidly, as global oil supply outpaced world oil demand. During the same period, the crude futures’ forward curve flipped into a prolonged...
World Oil Demand - November 2017
11/13/2017 - World oil demand growth in 2017 was adjusted higher from the previous month by 74 tb/d, mainly to reflect better-than-expected data from China in 3Q17. As such, world oil demand growth for 2017 now s...
World Oil Supply - November 2017
11/13/2017 - World oil supply in October increased by 0.53 mb/d m-o-m from the previous MOMR to average 96.71 mb/d, representing an increase of 0.17 mb/d y-o-y. ...
Oil Trade - November 2017
11/13/2017 - In October, preliminary data shows that US crude oil imports increased to average 7.7 mb/d, up by 564 tb/d from last month and an increase of 132 tb/d from the same month a year earlier. Year-to-date...
The Winter Product Markets Outlook - October 2017
10/11/2017 - Oil product markets in the major consuming regions performed well this summer, favoured by the seasonally-higher gasoline demand. US refinery markets averaged as high as $20/b by the end of the summ...
World Oil Demand - October 2017
10/11/2017 - 2017 world oil demand growth was revised higher by around 30 tb/d, compared to the previous month’s report, reflecting the positive momentum in the OECD region and China. As a result, world oil deman...
World Oil Supply - October 2017
10/11/2017 - World oil supply in September was revised up by 0.41 mb/d m-o-m from the previous MOMR to average 96.50 mb/d, representing an increase of 1.08 mb/d y-o-y. ...

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