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Oil supply

International Energy Agency predicts an oil surplus next year

by Henry Epp
Nov 14, 2024
A supply glut tends to reduce prices, which could prove challenging for President-elect Trump’s plan to boost U.S. oil production.
Prices are soft in the oil market amid abundant supply relative to demand.
The Washington Post/Getty Images
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OPEC+ members say they'll cut oil production. Global markets don't seem to believe them.

by Mitchell Hartman
Nov 30, 2023
Production cuts may no longer be as effective at propping up prices because electric vehicles are cutting into global demand.
OPEC+ members are promising a pullback of as much as 2 million barrels a day, at least half of that from the Saudis.
Joe Klamar/AFP via Getty Images
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Delay of OPEC+ meeting leaves questions about oil supply cuts

by Henry Epp
Nov 22, 2023
The expectation was that OPEC countries would continue cutting back supply. Some think the delay may mean there’s disagreement about that.
A lot of OPEC countries would really like it if the price of oil was a bit higher.
Joe Klamar/AFP via Getty Images
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Oil supply may finally catch up with demand. But what about emissions?

by Andy Uhler
Dec 14, 2021
There's a disconnect between the ongoing demand for fossil fuels and White House messaging about reaching net-zero emissions.
Despite wanting and needing to reduce oil consumption, many countries are still largely fossil-fuel dependent. Above: An oil refinery operates in Houston, Texas.
Mark Felix/AFP via Getty Images
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OPEC has to decide whether it will continue to curb oil output

by Andy Uhler
Nov 27, 2020
Ramping up production when demand is still weak could have major consequences on a relatively stable oil market.
Joe Klamar/AFP via Getty Images
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COVID-19

"Suppliers are sexy," but the real oil collapse story is demand

by Scott Tong
Apr 3, 2020
A historic plunge in demand during the global pandemic has pushed U.S. average gasoline prices to $1.91 a gallon.
There's a lack of demand for oil as people stay home during the COVID-19 pandemic. Above, a woman wearing gloves gases up her car in Los Angeles on March 18.
Chris Delmas/AFP via Getty Images
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Can the U.S. stop all oil exports from Iran?

by Scott Tong
Aug 8, 2018
The Trump administration looks to cut the Iranian economy from a key source of revenue. Analysts say past sanctions weren't totally able to do that.
An oil facility on Khark Island, on the shore of the Persian Gulf, in 2017.
ATTA KENARE/AFP/Getty Image
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