OPEC and Allies Gather as Oil Market Warns Them: Job’s Not Done
OPEC and allies reviewing the impact of their oil cuts this weekend face a market with an unambiguous message: their work is far from done. As producers meet in Kuwait Continue Reading
OPEC In Trouble As Saudis Becoming Weary Of “Free Riders”
From casual observation, one might be forgiven for referring to the OPEC production cut in place since November 2016 as the “Saudi production cut.” That’s because Saudi Arabia, OPEC’s leading Continue Reading
Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized
Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow Continue Reading
OPEC Cuts Pad Wallets of North American Heavy Oil Producers
OPEC’s supply cuts are providing a windfall for producers of heavy crude from Western Canada and the Gulf of Mexico. Prices for Western Canadian Select and Mars grades have strengthened Continue Reading
Saudi exports to U.S. to fall by 300,000 barrels per day in March
Shaybah oilfield complex is seen at night in the Rub’ al-Khali desert, Saudi Arabia, November 14, 2007. Saudi Arabia’s crude exports to the United States in March will fall by Continue Reading
Saudi pledges stable oil supply as market confused by data
Output or exports? OPEC members have argued for decades over which of the two they should monitor to gauge compliance with oil-output cuts. This month, Saudi Arabia has thrown a Continue Reading
Shell Oil Spills Led to ‘Astonishingly High’ Pollution in Nigeria
Royal Dutch Shell PLC oil spills that haven’t been cleaned up for over eight years have contributed to “astonishingly high” levels of pollution in a Nigerian community, according to a Continue Reading
Libya sets goals for higher oil production
Libya aims to increase crude oil production at some of its fields by 55,000 barrels to the extent that conditions permit, the nation’s main oil company stated. Officials with Libya’s Continue Reading
Venezuela’s Fuel Shortage Is Getting Worse
Venezuela’s state oil company was rushing to replenish gasoline supplies in various neighborhoods of Caracas on Thursday morning as drivers lined up at filling stations amid a worsening shortage of Continue Reading
Venezuela In Dire Straits As Oil Production Falls Further
Venezuela’s economic crisis continues to deepen. The South American OPEC member is thought to be sitting on nearly 300 billion barrels of oil, far more than any other country in Continue Reading