Summary Recent data on international rig counts continue to show little increase into 2017. We anticipate oil production from non-OPEC, non-US production sources to decline in 2017 as depletion and Continue Reading
Oil prices drifted mainly lower for a second day on Thursday as data showed U.S. crude production continues to rise, even as other oil producers touted production cuts. Brent crude, Continue Reading
Crude oil futures were largely unchanged on Thursday, with the market torn between rising U.S. production and the output cuts being made by OPEC and other producers. Benchmark Brent crude Continue Reading
Inventories rose in first quarter on supply boost before deal U.S. supplies drop from record as output climbs 8th week: EIA Oil capped its third weekly gain after the International Continue Reading
The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest Continue Reading
Goldman Sachs is standing by its own base oil price scenario of $50 a barrel, anticipating a stable future for the commodity, with price fluctuations in the range of 10-20 Continue Reading
With shale producers adding rigs every week, output is rising and so are stockpiles which weighs on prices and curbs their upward potential, ruining OPEC’s efforts to rebalance the market. Continue Reading
Higher oil prices mean more production from the United States, leaving the global market with more oil than last year, the International Energy Agency said. “Even after taking into account Continue Reading
The OPEC Monthly Oil Market Report is out with OPEC’s crude oil production numbers for March 2017. All data is through March 2017 and is in thousand barrels per day. Continue Reading
Bonga, Forcados facilities will restart by July after work OPEC must extend cutbacks to keep prices above $50 a barrel Nigeria will revive oil production this summer as it completes Continue Reading
