Ben Winkley

Nov 8, 2023 | argusmedia.com | Ben Winkley

An error has occured. The article you are searching for was not found. Published date: 08 November 2023 France-based upstream oil and gas producer Maurel and Prom said today it will resume operations in Venezuela, after the US lifted sanctions on the south American country's hydrocarbons sector.

Nov 5, 2023 | argusmedia.com | Ben Winkley

An error has occured. The article you are searching for was not found. Published date: 05 November 2023 Saudi Arabia and Russia today confirmed they would each extend their respective additional oil production and supply cuts to the end of this year, as widely flagged. The Saudi energy ministry said the extension of its 1mn b/d production cut into a fifth month will mean the country's crude output will again be around 9mn b/d in December.

Oct 27, 2023 | argusmedia.com | Ben Winkley

Norway's climate change committee said today the government should begin to prepare for "the final phase of Norwegian petroleum activities", and recommended a number of far-reaching measures including an immediate halt to exploration and extraction permitting.

Oct 12, 2023 | argusmedia.com | Ben Winkley

The IEA today cuts its oil demand growth forecast for 2024, saying it sees evidence of demand destruction after the rise in global prices that ran throughout September. In its Oil Market Report (OMR) the Paris-based agency put 2024 demand growth at 880,000 b/d compared with 990,000 b/d in its previous OMR. For this year the IEA raised its demand growth forecast slightly to 2.3mn b/d from 2.2mn b/d, citing "buoyant" results from major demand centres China, India and Brazil.

Oct 4, 2023 | argusmedia.com | Nader Itayim |Rithika Krishna |Ben Winkley

India's oil minister today said Opec+ "supply-side management" will have consequences for demand, because the global economy is not in a position to shoulder high prices. Speaking to Argus in Abu Dhabi, Hardeep Singh Puri dismissed the argument made by, among others, Opec heavyweights Saudi Arabia and the UAE that higher prices are needed to stimulate the investment necessary to counter supply decline. "When you take off 5.2mn b/d [from the market], it is not due to lack of investment," he said.