Is Another Oil Price War Looming?
All of these projections have one thing in common: Over the next few years, U.S. production growth is going to far outstrip OPEC’s production growth. As a result, the U.S. Continue Reading
OPEC sees oil supply surge from rivals, countering its cuts
OPEC on Wednesday raised its forecast for non-member oil supply this year to almost double the growth predicted four months ago as higher prices spur U.S. shale drilling, offsetting OPEC-led output cuts and a collapse Continue Reading
OPEC Admits Rival Oil Supply Will Outpace Global Demand Growth
As it had done in several consecutive monthly reports, OPEC lifted again on Wednesday its estimates for non-OPEC oil supply growth this year, but this time the cartel’s estimates that Continue Reading
OPEC February Production Data
The March OPEC Monthly Oil Market Report is out with the February production data. All data is through February 2o18 and is in thousand barrels per day, C OPEC crude Continue Reading
How Will OPEC React To Soaring Shale Production?
In its March Oil Market Report , OPEC revised up its forecast of non-OPEC supply for 2018 by 280,000 bpd, a major revision. That equates to year-on-year growth of 1.66 Continue Reading
OPEC Sees Oil Supply Surge From Rivals, Countering Its Cuts
OPEC raises its forecast for oil supply from non-member countries in 2018 as higher prices encourage US shale drillers to pump more. LONDON, March 14 (Reuters) – OPEC on Wednesday Continue Reading
ZhenHua expands China’s role in Iraq’s oil sector
The China ZhenHua Oil Company, a subsidiary of state-owned arms manufacturer Norinco, is poised to make two new investments in Iraq’s oil sector. The company is forming a new oil Continue Reading
Oil market shrugs off rising threat to Iran deal: Kemp
President Donald Trump’s decision to replace his secretary of state with a more hawkish figure should have been bullish for oil prices since it increases the probability the nuclear deal Continue Reading
Saudis To Keep April Oil Exports Below 7 Million Bpd
Saudi Arabia will keep its crude exports below 7 million bpd in April as it stays committed to draw down excess global inventories and boost oil prices, according to the Continue Reading
Oil companies temper Iraq’s dreams of production expansion
Iraq, OPEC’s second-largest producer of crude, is hitting a roadblock in the next phase of expanding its oil production capacity as the appetite of international energy firms for investing in Continue Reading