Brent Crude Dips Below $50 a Barrel
Brent crude briefly fell below $50 a barrel for the first time in a week after U.S. drilling data showed another uptick, reinforcing views that the recent rally may restrain Continue Reading
OPEC sees oil supply more balanced in second half of year
OPEC has forecast that the world oil market will be more balanced in the second half of the year as outages in Nigeria and Canada help erode a supply glut Continue Reading
Despite Robust Demand Is Oil Set To Fall Once Again?
Oil Rig Seventy-two years after Marvin Camras patented the wire recorder, and movement in the oil market today is being dictated by hopes of stronger supply (production returning from outages) Continue Reading
OPEC Production EIA Vs. MOMR
The latest OPEC Monthly Oil Market Report is out with OPEC crude only production numbers for May, 2016. I have compared these numbers with those published by the EIA in Continue Reading
OPEC points to oil demand exceeding its production for first time in three years
OPEC forecast on Monday that the world oil market will be more balanced in the second half of 2016 as outages in Nigeria and Canada help to speed up the Continue Reading
IEA Cuts Estimate of Oil Oversupply, Sees Market Balance in 2017
First-half glut is 800,000 b/d, 40% less than last estimate The global oil market will be almost balanced next year as demand continues to rise faster than production, while the Continue Reading
Global Oil Markets to Balance Out, IEA Says
The IEA said unplanned shut-ins in Canada will help… Global oil markets are moving close to balance in the second half of this year on a significantly stronger than expected Continue Reading
IEA’s Oil Market Report
Crude oil prices rallied to a 2016 high above $51/bbl in June, stoked by continuing outages in Nigeria and Canada as well as a steady decline in US oil production. May Continue Reading
Nigeria Central Bank Said Close to Announcing New Naira Policy
The Central Bank of Nigeria is close to unveiling a new foreign-exchange policy and an announcement could come as soon as this week, according to a person who attended a Continue Reading
Nigerian oil production at historic low
Militant attacks in the Niger Delta have pushed Nigerian crude oil production to its lowest point in more than a decade, OPEC said. Photo by sakhorn/Shutterstock VIENNA, June 13 (UPI) Continue Reading