The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers.
Author: Grant Smith and Julian Lee
OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks
OPEC’s crude production plunged in February as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut.
OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks
OPEC’s crude production plunged in February as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut.
OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand
OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.