While OPEC and its allies agree their output-cut deal needs to be prolonged as bloated inventories won't shrink to normal levels by March, they're yet to reach consensus on how long the pact must be extended, according to ministers from three of the top producers.
Global stockpiles are declining and demand is increasing, but there's still a significant inventory overhang in the market, Khalid Al-Falih, Saudi Arabia's oil minister, said at the Asian Ministerial Energy Roundtable in Bangkok on Thursday. Issam Almarzooq, his Kuwaiti counterpart, said producers are in the process of discussing and finalizing a decision on the extension of output curbs by the Organization of Petroleum Exporting Countries and partners such as Russia.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from EnergyWatch
Retail customer interest in power prices doubles over half year
Nord Pool reports more than 200% increase among electricity consumers on the pan-European energy exchange’s respective websites – a development that could help balance power grids, says Danish TSO.
Rocketed wind farm in Ukraine feared offline
Parties behind 250MW wind farm Syvash no longer have control of the asset nor knowledge of the extent of damage.
Ørsted and Petro Vietnam form offshore wind partnership
"Today’s inaugural agreement between Ørsted and PTSC M&C demonstrates another step forward in our ambitions to collaborate closely with local suppliers to kick-start Vietnam’s new offshore wind industry,” says Ørsted Vietnam Country Manager Sebastian Hald Buhl.
K2 Management wins technical advisory contract for 1GW Scottish offshore wind
The Danish engineering consultancy is hired as technical advisor for offshore wind farm Inch Cape, recently allocated in the UK’s latest CfD round.
ScottishPower to build hydrogen plant at Port of Felixstowe
With a green hydrogen production plant, ScottishPower plans to supply the Port of Felixstowe and shipping at large with green energy corresponding to 100 megawatts.
Accounts Payable Accountant 
Analyst for Denmarks green transition 
Adm. Director of Svendborg District Heating 
Financial consultant for the district heating area 
Consultant for Environmental Assesment of Offshore Construction Projects 
Financial Analyst 
Senior Transaction Manager, M&A and Project Financing 
Technically skilled Project Manager for a new function in eMobility Delivery in Norlys Energi 
GMP Compliance Consultant to Eltronic in Ballerup 
A lawyer (chief consultant) is wanted for People & Culture 
The Climate Council is looking for a student assistant with an interest in the climate area, good understanding of numbers and analytical sense 
Legal Manager, Compliance and Regulatory