OPEC Members Pursue Own Agenda As Glut Persists
Amid reports of inventory increases, further surges in future non-OPEC supply and prices lying stagnant in the $40s, it’s becoming clear that the OPEC deal to extend production cuts in Continue Reading
Saudi Arabia’s oil exports seen below 7 million bpd in summer: sources, data
Saudi Arabia’s crude exports are expected to fall below 7 million barrels per day this summer, according to industry sources familiar with the matter, and shipping data so far supports Continue Reading
Libya sees oil production gains ahead – UPI.com
An agreement with German energy company Wintershall means Libya has a better chance of meeting oil production goals, a national oil company said. The Libyan National Oil Co. said it Continue Reading
Saudi Aramco IPO Plans Slowed Over Where to List
A divide between Saudi Arabia’s ruling family and executives of the kingdom’s oil company over where to list the company’s shares is slowing the march toward a planned 2018 initial Continue Reading
Libya’s NOC, Wintershall Agree To Resume 160,000 Bpd Output
Libya’s National Oil Corporation (NOC) said on Tuesday that it had reached an interim deal with Germany’s Wintershall to immediately resume production in concession areas and related fields, which would Continue Reading
Qatar Spat Spills Over To Libya’s Oil, Rekindles Political Divides
Just as Libya’s National Oil Corporation (NOC) is targeting to raise crude oil output to 1 million bpd by the end of July, the rivaling factions in the east and Continue Reading
How The Qatar Crisis Is Shaping The Future Of The Region
GCC-member Qatar has been confronted by a concerted diplomatic and economic effort from its former Arab allies, led by Saudi Arabia, UAE, and non-GCC member, Egypt. The official cause of Continue Reading
Chicken farm explosion reveals oil smuggling racket
Iraqi authorities are seeking the arrest of a Badr Organization paramilitary commander for allegedly overseeing a prolonged oil smuggling operation south of Kirkuk.”The investigative judge of Kirkuk has issued a Continue Reading
Cuba Scrambles As Venezuela’s Oil Industry Collapses
As Venezuela’s oil industry goes down it flames, it’s looking like it may just take Cuba down with it. Venezuela, once the crude powerhouse of South and Central America, is Continue Reading
Tillerson Seeks To Turn Oil Tap Off For North Korea | OilPrice.com
The U.S. will focus its efforts on shutting off North Korea’s access to crude oil, Secretary of State Rex Tillerson said yesterday at a Senate Foreign Relations committee hearing. In this, Continue Reading