Can OPEC Halt An Oil Market Meltdown?
What a difference one month makes. One month ago, the International Energy Agency (IEA) warned that the world was “straining parts of the system to the limit,” noting that “recent Continue Reading
Russia wants to steer clear of any OPEC-led oil production cut: sources
Russia wants to stay out of any oil-production cuts being touted by some of its partners in an OPEC-led supply pact, two high-ranking Russian sources told Reuters. Worried by a Continue Reading
Crude Recovery? OPEC Eyes 1.4 Million Bpd Production Cut
OPEC and the non-OPEC partners in the deal are discussing potentially cutting oil production by as much as 1.4 million bpd to try to lift oil prices out of the Continue Reading
Is OPEC’s Oil Outlook Too Bullish?
OPEC didn’t surprise anyone when it said in its World Oil Outlook (WOO) 2018 that the world’s primary energy demand will surge by 33 percent from 2015 levels to 365 Continue Reading
OPEC, Russia Crude Production Offsets Iran Losses
Gains mostly came from the UAE and Saudi Arabia, and were supported by OPEC ally Russia’s 50,000 barrels-a-day increase last month, to average 11.6 million barrels a day—a post-Soviet record. Continue Reading
OPEC: Venezuelan, Iranian oil production down, Saudi, UAE output up
Venezuelan and Iranian oil production fell in October from September, resulting in a combined decrease of about 196,000 barrels per day, but higher output just in the United Arab Emirates Continue Reading
OPEC Cuts 2018 Oil Demand Growth Forecast By 40,000 Bpd
OPEC expects global oil demand to grow at a daily rate of 1.5 million bpd this year, further slowing down to 1.29 million bpd in 2019, the organization said in Continue Reading
Risking Trump ire, OPEC builds case for oil supply cut
OPEC built a case on Tuesday for cutting oil output when it meets next month, warning that a supply glut could emerge in 2019 as the world economy slows and Continue Reading
Saudi Arabia think-tank studying possible effect of OPEC break up: WSJ
Saudi Arabia’s top government-funded think-tank is studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the Continue Reading
Saudi Arabia, OPEC’s Anchor, Ponders a Future Without the Cartel
The research project doesn’t reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, according to people familiar Continue Reading