Our Competent Persons Report is on schedule for release during February 2019, the majority of the technical work having been satisfactorily completed. Economic analysis is expected to be completed in the next few weeks. (from the RNS of 22/01).
Experts from OPEC+ recommended that oil ministers consider a larger production cut when they meet this week, as the havoc wrought on the world economy by the coronavirus prompted Wall Street to slash forecasts for energy demand.
After a meeting on Tuesday -- overshadowed by the logistical difficulties of gathering amid a raging global outbreak -- the group’s Joint Technical Committee suggested an additional reduction in supply of between 600,000 and 1 million barrels a day during the second quarter, delegates said. That’s potentially a larger cut than it recommended last month, but falls short of some estimates of the demand hit from the virus...