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OPEC+ to Raises Oil Production 350,000 Barrels Until June

JAKARTA (TheInsiderStories) - The Organization of Petroleum Exporting Countries and its allies (OPEC+) agreed to raise oil production gradually starting in May. The members to raise output...

No Policy Recommendation from OPEC+ Meeting

JAKARTA (TheInsiderStories) - The Organization of Petroleum Exporting Countries and its allies (OPEC+) panel ended with no policy recommendation but lowered its oil demand growth forecast...

Goldman Sees Global Oil Prices to Touches US$80 in This Year

JAKARTA (TheInsiderStories) - Global research firm, Goldman Sachs, sees London' Brent crude oil could touches US$75 a barrel in the second quarter of 2021 and getting...

Morning Briefing: Various Things to Know on Friday

JAKARTA (TheInsiderStories) - Good Morning! OPEC and its allies kept the crude oil production steady through April. Saudi Arabia also said would extend its one million...

OPEC+ Revises Down Global Oil Demand on Extended Lockdown

JAKARTA (TheInsiderStories) - Organization of Petroleum Exporting Countries and allies (OPEC+) trimmed its forecast on global oil demand to average 96.05 million barrel per day (bpd),...

Saudi Cuts Production, Oil Prices Hit the Highest Level Since February

JAKARTA (TheInsiderStories) - One of the largest oil producers, Saudi Arabia give a surprised on the production cut by 1 million barrels a day (bpd) starting...

OPEC Cuts the Oil Demand to 5.9 Million Barrels in 2021

JAKARTA (TheInsiderStories) - The Organization of the Petroleum Exporting Countries (OPEC) cut its oil demand to 5.9 million barrels per day (bpd) in 2021 or dropped...

OPEC+ Agrees to Raises Oil Supply Starting January 2021

JAKARTA (TheInsiderStories) - The 13 members Organization of Petroleum Exporting Countries (OPEC) and 10 allies agreed to adjust production by 500,000 barrels per day (bpd)...

Morning Briefing: Various Things to Know on Tuesday

JAKARTA (TheInsiderStories) - Good Morning! The latest inflation data will announces by the statistic bureau this morning. Some analyst rated in November, the country will...

OPEC Scaling Back Production Cut to 5.7M Barrels in January

JAKARTA (TheInsiderStories) - The Organization of the Petroleum Exporting Countries and its allies (OPEC+), plans to scaling back their production cuts in January 2021, from...

Laura, Marco Storms Affects Indonesian Crude Price in August

JAKARTA (TheInsiderStories) - Concerns on the Marco and Laura' tropical storms passing through the heart of the oil industry in the United States (US) also affected...

OPEC Sees World Oil Demand Will Fall Even More in 2020

JAKARTA (TheInsiderStories) - Organization Petroleum Exporter Countries (OPEC) trimmed oil-demand growth by 100,000 barrels per day in monthly report released on August 13. It said,...

OPEC+ Berpotensi Perpanjang Pemangkasan Produksi Minyak

JAKARTA (TheInsiderStories) - The Organization of the Petroleum Exporting Countries (OPEC) dan sekutu-sekutunya yang dipimpin Rusia, populer dengan sebutan OPEC+, tampaknya akan memperpanjang pengurangan...

OPEC+ Looks to Extend Oil Production Cuts

JAKARTA (TheInsiderStories) - The Organization of the Petroleum Exporting Countries (OPEC) and its Russia-led allies, popular with the so-called OPEC+, looks to extend the...

OPEC: Market Rebalancing, Full Commitment to Conformity Remains the Focus

JAKARTA (TheInsiderStories) - Joint Ministerial Monitoring Committee (JMMC) of oil producers and its allies (OPEC+) reported 87 percent of their productions have been cut during May....

OPEC+ Agrees to Extend the Production Cut Until July

JAKARTA (TheInsiderStories) - Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to extend the cut in crude oil output until the end...

Oil Prices Rebound After Saudi Arabia Cut the Production

JAKARTA (TheInsiderStories) - After depressed by fears of over oversupply and the devastating effects of the COVID-19 pandemic, the oil prices rebounded on Monday (05/11)....

Indonesia Hold Fuel Price, Sees the Oil Prices Rebound at the...

JAKARTA (TheInsiderStories) - The ministry of energy and mineral resources (MEMR) decided to kept Indonesia' fuel prices even the global oil prices has dropped below US$20...

Morning Briefing: Abnormal Oil Prices, Need Caution to Handle it

JAKARTA (TheInsiderStories) -  Good Morning! Abnormalities are happening in the world oil market. After the West Texas Index, now the Brent crude oil price has also...

Oil Prices Hit the Bottom Level Since 1999 on the Low...

JAKARTA (TheInsiderStories) - Oil prices hit the bottom level for the first time in 1999, as the COVID-19 hits the demand, the market data showed....

OPEC+ Agrees to Cut Output 9.7MBPD to Support Oil Prices

JAKARTA (TheInsiderStories) - Organization Petroleum Exporting Countries and its allies (OPEC+) agreed to cut oil output by 9.7 million barrels oil per day, representing around 10...

Morning Briefing: OPEC Meets Today, Powell Speaks on US Economy

JAKARTA (TheInsiderStories) - Good Morning! Organization of the Petroleum Countries and its allies will hold virtual meeting today with hope production cuts to stabilize the...

Oil Market Plunges, Need Joint Action to Rise the Price

JAKARTA (TheInsiderStories) - The global oil prices fell almost 8 percent on Thursday (03/26) amid the price war between Saudi Arabia and Russia. Yesterday, price of West...

Indonesia’s February ICP Lowering to US$56.61 a Barrel

JAKARTA (TheInsiderStories) - The average of Indonesia Crude Price (ICP) in February 2020 stood at US$56.61 per barrel, said the energy and mineral resources ministry last...

OPEC Proposes 1.5M barrels Cut, Oil Prices still Weaken

JAKARTA (TheInsiderStories) - The heads of Organization of the Petroleum Exporting Countries (OPEC) recommended an extending the duration of the proposed 1.5 million barrels per...

Morning Briefing: China Rolls Out Fiscal Stimulus

JAKARTA (TheInsiderStories) - Chinese President Xi Jinping chaired a leaders meeting to study the major tasks in preventing and controlling the coronavirus disease and stabilizing...

OPEC+ Meets to Evaluate the Oil Prices on Thursday

JAKARTA (TheInsiderStories) - Organization of the Petroleum Exporting Countries (OPEC) and its allies is to meet in Vienna, Austria on March 5 - 6, to decide...

Weekly Briefing: Investors Eager to See Economic Trends Amid the Coronavirus

JAKARTA (TheInsiderStories) - Good Morning! A busy economic calendar this week, starts with Statistic Indonesia February' inflation report and foreign exchange reserves on Friday. Last January,...

Global Oil Prices Falls 23 Percent During 2020

JAKARTA (TheInsiderStories) - Global oil prices have fallen in line with growing concern over the transmission of the coronavirus and its impact on the economy....

Morning Briefing: The Latest Forex Reserves Announces by BI Today

JAKARTA (TheInsiderStories) - Good Morning! The latest foreign exchange (forex) reserves position will announces by Bank Indonesia (BI) today. Last December the reserves stood at US$192.2...
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