OPEC and allied producers on Monday pledged action to support the oil market as concerns mounted that a second wave of the COVID-19 pandemic will hobble demand and an earlier plan to raise output from next year would further depress prices.

• October 21, 2020

Oil prices fell 3% on Friday after U.S. President Donald Trump tested positive for COVID-19, roiling risky assets, and as rising global crude output threatens to overwhelm the market’s weak recovery.

• October 2, 2020

The chief executive of Russian oil producer Gazprom Neft SIBN.MM said he expects global oil consumption to return to pre-crisis level in the second half of 2021, slightly later than the energy ministry's forecast for the second quarter.

• September 23, 2020

Compliance with OPEC+ oil output cuts is seen at 95% to 97% in July, according to OPEC+ sources and a draft report seen by Reuters on Monday, two days ahead of a meeting of key OPEC+ producers to review adherence with their production pact as demand slowly recovers.

• August 17, 2020

OPEC oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members made limited progress on compliance.

• July 31, 2020

Oil prices slipped on Tuesday as investors worried that rising COVID-19 cases would hurt demand while supply could rise with a potential resurgence of Libyan oil production, which has slowed to a trickle since the start of the year.

• July 3, 2020

Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a rise in coronavirus infections worldwide that could stall a recovery in fuel demand.

• June 22, 2020

Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse by mid-July, the head of the Nigerian National Petroleum Corporation Mele Kyari said on Wednesday.

• June 10, 2020