Graphic: Oil bulls party like it’s 2014 and $100 a barrel
Brent crude futures finally bear the hallmarks of a market in which supply and demand are falling into balance, although the last time this happened, it was 2014 and the Continue Reading
IEA says strong oil demand growth helps market’s rebalancing
Global oil demand will grow more quickly than expected this year, helping to ease a glut despite rising crude production from North America and weak OPEC compliance with output cuts, Continue Reading
Global Nuclear Power Capacity Could Double By 2050
The world’s installed nuclear power capacity could increase by 123 percent in 2050 compared to 2016 levels, the International Atomic Energy Agency (IAEA) said in a report this week. These Continue Reading
OPEC output climbed 173,000 b/d in July
Total crude oil production from the Organization of Petroleum Exporting Countries increased 173,000 b/d month-over-month in July to average 32.87 million b/d, according to five secondary sources used in the Continue Reading
OPEC sees higher 2018 oil demand, points to easing glut
OPEC forecast higher demand for its crude in 2018 on Thursday due to rising global consumption, and pointed to signs of a stronger oil market that suggest an OPEC-led production Continue Reading
Iraq, Saudi Arabia express full commitment to OPEC balancing act
Oil production from Iraq and Saudi Arabia will remain subdued until the markets reach a target level that indicates a balanced market, leaders said. Saudi Prince Mohammed bin Salman bin Continue Reading
OPEC Says Crude Output Rose in July
OPEC crude oil production rose further in July, in the latest sign the cartel’s efforts to reduce output and drain a global supply glut are falling short. The Organization of Continue Reading
OPEC Deal In Jeopardy As Exempted Nations Boost Output
All data is through July 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the 14th member of OPEC that was just Continue Reading
Oil Glut Endures As OPEC Confirms Higher Output
OPEC confirmed reports that its crude oil production increase last month, reporting a daily rate of 32.869 million barrels, up by 172,600 bpd. Global commercial oil stocks in the OECD Continue Reading
Ex Minister: Unused Iraq-Saudi Pipeline Should Reopen
Iraq needs to regain access to a pipeline that was used in the past to export Iraqi crude oil via Saudi Arabia, according to Parliament member and former Iraqi oil Continue Reading