OPEC is facing headwinds with rising production from rivals, the International Energy Agency said Thursday, the latest warning that OPEC’s efforts to take barrels out of the market could backfire. Continue Reading
The Organization of Petroleum Exporting Countries (OPEC) cut oil production by 221,000 barrels per day in the last month of 2016, bringing the bloc’s total output to 33.08 million bpd Continue Reading
The new January OPEC Monthly Oil Market Report is out with crude only production numbers for December 2016. All charts are in thousand barrels per day. Indonesia has left OPEC Continue Reading
OPEC signaled a falling oil supply surplus in 2017 on Wednesday as the producer group’s output declines from a record high and outside producers show positive initial signs of complying Continue Reading
OPEC’s Barkindo: ‘So Far, So Good’ on Production Cut Deal Two weeks into OPEC’s first agreement to cut production in almost a decade, its top official’s assessment is “so far, Continue Reading
There was one significant part of last year’s OPEC deal that was absent, and it may prove to be its undoing. Just weeks into the deal and days from a Continue Reading
OPEC expects demand for its own crude to fall this year but is mindful that the return of US shale could dent positive early signs on non-OPEC compliance with the Continue Reading
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. REUTERS/Heinz-Peter Bader World Continue Reading
Shell has signed a $210 million contract with Halliburton to drill 30 wells in Iraq’s Majnoon oil field, two oil sources said on Thursday. The agreement will double the field’s Continue Reading
With the OPEC production deal holding, at least for the moment, questions have now arisen over how prospects look for the cartel’s biggest producer. It’s been a strange few years Continue Reading
