IEA lowers Q2, Q3 ‘call’ on OPEC crude oil estimates
The International Energy Agency on Friday raised its estimate of the increase in non-OPEC oil supply this year on the back of supply surges from Russia and the US and Continue Reading
OPEC December Production Data
Qatar has left OPEC and is not included in this months report. All Qatar historical data has been removed from all OPEC charts. OPEC 14 production was down by 751,000 Continue Reading
OPEC+ To Hold Extraordinary Meeting On April 17-18 In Vienna
OPEC has decided to hold an extraordinary full ministerial meeting on April 17 in Vienna to discuss the state of the oil market and the production cut deal, while the Continue Reading
EIA: OPEC Production To Fall By 1 Million Bpd This Year
The Energy Information Administration expects OPEC’s combined crude oil production this year to be 1 million barrels per day lower than in 2018, when the cartel produced an average 31.92 Continue Reading
OPEC Cuts Are Already Paying Off
Iraq’s oil production topped 4.6 million barrels per day (mb/d) in late 2018, roughly double production levels from a decade earlier. – Iraq is the second largest oil producer in Continue Reading
OPEC oil output averaged 31.92 million b/d in 2018, expected to average 30.88 million b/d in 2019: EIA
Crude oil production from members of OPEC is expected to fall to below 30.73 million b/d by the end of this year, the group’s lowest monthly output since February 2015, Continue Reading
OPEC+ ministerial meetings proposed for April 17-18: source
The date for the next meetings of the Organization of Petroleum Export Countries and its allies has been proposed for 17 and 18 April, though this has yet to be Continue Reading
Saudi Oil Minister: No Need For Extraordinary OPEC Meeting
There is no need for the Organization of Petroleum Exporting Countries to schedule an extraordinary meeting before April, Saudi Arabia’s Energy Minister, Khalid al-Falih, told media, as quoted by Reuters. Continue Reading
OPEC To Publish Quotas For New Production Cut Deal
OPEC plans to publish this week the quotas for individual countries under the new OPEC/non-OPEC production cut deal agreed upon on December 7 and in force since January 1, an Continue Reading
Is Venezuela’s Downward Spiral OPEC’s Achilles Heel Or Saving Grace?
OPEC and US Shale have been duking it out in the oil markets for a few years now—ever since the days of $100 oil. OPEC, led by Saudi Arabia, took Continue Reading