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OPEC+ to ease oil curbs starting next month Cornelia Meyer Short Url https://arab.news/r28q7 The ministers of OPEC+, an alliance of the OPEC countries, and 10 friendly nations under the leadership of Russia met virtually on Thursday. The ministers decided to release an incremental supply of around 2 million barrels per day (bpd) on the market between May and July. The alliance intends to taper OPEC+ production cuts by 350,000 bpd in May and June and by 441,000 in July. Saudi Arabia intends to unwind its voluntary cuts through the summer with 250,000 bpd in May, 350,000 bpd in June and 400,000...

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The International Renewable Energy Agency (IRENA) released a preview of its World Energy Transitions Outlook, just in time for the 7th Berlin Energy Transition Dialogue. Its focus is on keeping the global temperature rise to 1.5 ℃ until the end of the century and bringing CO2 emissions to net zero by 2050, as well as the policy and financing requirements needed to get there.

On Wednesday, Joe Biden’s $1.9 trillion COVID-19 relief package passed through Congress. The much-discussed question was whether it was too big and targeted enough, or whether it posed a danger of overheating the economy. The skeptics could not just be found on the Republican side of the aisle. Larry Summers, former IMF chief economist and secretary of the treasury under Bill

After the bust comes the boom. Ten months ago, oil saw its worst decline in demand in the commodity’s history. Put that against January and February of this year, when it saw the steepest-ever rally for the first two months of any calendar year. The oil price rally over the last few months has been nothing short of stunning. West Texas Intermediate rallied from $45.28 per