WorldOil OPEC still sees oil surplus in early 2020 as meeting approaches OPEC signaled that oil markets remain on course for a surplus in early 2020, even as delegates said the organization and its allies probably won’t step up efforts to remove the excess when they meet next month. Oil rises on signs of U.S. supply drop, OPEC’s shale outlook Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year. Qatar joins Gulf producers in oil-price formula overhaul Qatar Petroleum is set to join most of its Persian Gulf counterparts and price its crude before loading instead of afterward from next year, according to people familiar with the plans. That IEA predicts global oil demand will level off around 2030 While the current growth rate of 1 MMbpd -- or about 1% -- will hold for the next five years, it will ebb to just 100,000 bpd in the 2030s, the agency said. Oil rallies as OPEC sees potential for non-OPEC supply cuts Oil advanced for the first time in three days after a report that OPEC sees a potential reduction in supply from outside of the group. OPEC+ risks sub-$50 oil without deeper supply cuts “The prospect of oversupply looms over the market in 2020,” said Martijn Rats, global oil strategist at Morgan Stanley. “Either OPEC deepens its cuts, or prices will fall to about $45/bbl, and force a slowdown in U.S. shale that balances the market.” ADNOC to launch futures exchange for its Murban crude Murban pricing will move from a retroactive official selling price to market-driven, forward pricing using a Murban futures contract as its price marker. Aramco sees oil demand falling after 2040, per IPO prospectus Global oil demand may peak within the next 20 years, according to an assessment included in the prospectus for Saudi Aramco’s initial public offering, suggesting views are slowly changing in the kingdom where officials long dismissed the notion as overblown. Oil tallies weekly gain as traders look past Trump tariff comments Oil erased an early loss Friday, capping a weekly gain as investors shrugged off a comment by President Donald Trump that the U.S. hasn’t agreed to fully roll back tariffs with China. EIA: Brent and WTI hedge terms getting shorter as production cycles change The U.S. Energy Information Administration reports that changes in the oil investment and production cycle may be affecting trading dynamics for West Texas Intermediate (WTI) and Brent crude oil futures contracts.