What Happened to the Oil Glut?
A glut of stored oil that helped keep prices low for years is almost gone, thanks to production cuts by OPEC and Russia, a humming global economy and a series Continue Reading
The Six Factors Driving Oil Markets In 2018
The oil bulls are very content with the Vienna deal, its success (hitherto) and the prospects of another extension. The coming summer driving season is sure to boost this bullish Continue Reading
Is Oil Demand Growth Overrated?
Organic demand or population growth alone (absent surging debt) among the consumer base that consumes in excess of 90% of global oil, is collapsing. I have detailed this previously; The Continue Reading
Are Oil Markets Tightening Too Fast?
The group’s collective output fell by a whopping 201,400 barrels per day in March, compared to a month earlier. It was the largest single-month decline since November and it took Continue Reading
IEA Oil Market Report
Our forecast for global oil demand growth for 2018 is unchanged from last month’s report at 1.5 mb/d. OECD demand in 1Q18 was revised up by 315 kb/d, partly due to cold weather in the Continue Reading
OPEC sees oil markets tighten further even as U.S. shale booms
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from Continue Reading
OPEC’s Output Fell in March, While U.S. Shale Steamed Ahead
OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel’s agreement to cut production , even as the world’s total oil supply continued to Continue Reading
IEA says ‘mission accomplished’ for OPEC as oil stocks shrink
OPEC and its allies appear to have accomplished their mission of bringing global oil stocks to desired levels, the International Energy Agency said on Friday, signaling that the markets could Continue Reading
OPEC March Crude Oil Production Data
All OPEC data below was taken from the April issue of The OPEC Monthly Oil Market Report . The data is through March 2018 and is thousands of barrels per Continue Reading
Pressured by protests, KRG seeks Baghdad bailout
Ending a de-facto policy of economic independence, KRG Prime Minister Nechirvan Barzani promises public-sector salaries that can only be sustained with Baghdad subsidies. Iraqi Prime Minister Haider al-Abadi (center) and Continue Reading