- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
- Africa: BW Offshore wraps up much-anticipated sale of Nigerian FPSO
- Senegal: European JV aims to revolutionize country’s power infrastructure
- Congo: Eni, Lukoil, and SNPC ink LNG sale and purchase agreement in a ‘significant milestone’
- Aramco CEO calls for ‘more realistic and robust’ multi-source plan in global energy transition
OPEC met on Friday to consider the possibility of extending the production cuts beyond March 2018. The meeting was uneventful, with no decision taken in regard to recommendations on extending or deepening the production cut deal.
The recent uptick in oil prices will provide OPEC members with a bit of confidence as they sort out their next steps, but pitfalls remain for 2018.
“The bull run in the oil market is running out of steam as unease builds” Stephen Brennock, analyst at London brokerage PVM Oil Associates, told Reuters on Thursday. While oil markets did not react too negatively to the lack of news, all eyes will be on OPEC as the production cut deal nears its agreed upon deadline.