Special reports

Oil prices are enjoying some stability now, after pricing in fears of a new pandemic wave and the OPEC+ cuts agreement.

The backlog, which will likely increase in June, is equivalent to about two years of fraccing at the current pace, according to Rystad.

Oil prices fell this morning, as traders priced in fears of a second round of Covid-19-related demand decline.

The £62 million Energy Transition Fund will support businesses in the oil, gas and energy sectors over the next five years as they grow and diversify and will help attract private sector investment in the region.

Oil prices lost ground this morning, as traders corrected last week’s exuberant gains, amid worries that Covid-19 will not let demand recover as quickly as hoped.

Global spending is forecasted to reach US$383 billion this year, the lowest level in 15 years and a 29% decrease of US$156 billion compared to 2019.

Oil prices have fallen as US stocks rise and as traders price in concerns about how quickly demand will return, fearing a second Covid-19 wave.

Mele Kyari, the head of the Nigerian National Petroleum Corp., has said Africa's top oil exporter is fully committed to the cuts.

The URTeC Management Committee has decided to cancel the face-to-face component of the upcoming Unconventional Resources Technology Conference (URTeC) in Austin, Texas, US.

Oil prices fell this morning on indications that US stocks unexpectedly rose.

OGUK's Chief Executive Deirdre Michie has urged the UK government to protect jobs and create new business opportunities in the energy regions of the UK.

OPEC+'s cuts are deep enough to create a monthly deficit in crude and condensate supply from June 2020 and continuing uninterrupted until at least the end of next year, according to Rystad Energy.

Oil prices fluctuated this morning, swinging from marginal gains to losses as traders price in Libya supply and a spike in new global Covid-19 cases.

In the weekly ADIPEC Energy Dialogue Webinar series, Philip Whittaker, Boston Consulting Group, discussed the role of digital technology in the recovery of the oil and gas industry post COVID-19.

Rystad Energy has said that OPEC+ has "taken a tighter grip on the near-term crude oil fundamentals with Saturday’s extension decision."