Oil market outlook is mixed, says WoodMac

As OPEC and OPEC+ meet in Vienna, the outlook for the market is mixed, according to Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie energy consultancy. Geopolitical risk means the supply outlook is tightening, offsetting the moderate weakening in oil demand growth thus far this year, she said.

Total stops Iranian offshore project after US renews sanctions

French energy major Total announced it will not be in a position to continue and take any further commitment related to the South Pars 11 project, following the US withdrawal from the JCPOA, re-imposing the US sanctions that were in force before the JCPOA’s implementation. 

maritime events