OPEC Lifts Non-OPEC Oil Production Growth Forecast
OPEC revised up on Tuesday its 2018 forecast for total non-OPEC supply growth, while it left unchanged its projection for world oil demand growth at 1.65 million bpd this year. Continue Reading
Trump Blames OPEC For ‘Too High’ Oil Prices, Again
Early on Wednesday, President Trump tweeted : “Oil prices are too high, OPEC is at it again. Not good!” This time the U.S. President used fewer words to reiterate his Continue Reading
Trump, Iran spar over oil prices ahead of OPEC meeting
U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after Continue Reading
Nobody speaks for OPEC alone, Iran’s oil minister says
No single country speaks as the unified voice of OPEC as decisions must be made collectively, the Iranian oil minister said, according to state media. Members of the Organization of Continue Reading
Saudis, Russia to Talk Output Boost Ahead of OPEC Summit
Saudi Arabia’s oil minister is flying to Russia this week to discuss ways to manage an output boost both producers say they want to propose at an OPEC summit next Continue Reading
Russia To Propose Rolling Back 1.8 Million Bpd Of Oil Cuts
Russia plans to propose to the OPEC/NOPEC allies next week that they reverse the group’s production to the October 2016 levels—the baseline for the cuts of most pact participants when Continue Reading
Is This The Most Contentious OPEC Meeting Yet?
Both Saudi Arabia and Russia recently increased their oil production levels, an indication that they are getting a head start on higher output even as possible changes to the OPEC/non-OPEC Continue Reading
Did OPEC Need To Cut Oil Output At All?
“A lot of people are concerned about higher oil prices and their impact on demand. The evidence really isn’t there,” he added, making a strong case for oil bulls if Continue Reading
OPEC May Oil Production
All OPEC data below is from the OPEC Monthly Oil Market Report . All OPEC data is in thousand barrels per day and is through May 2018. OPEC 14 Crude Continue Reading
OPEC cautious on oil outlook despite end of global glut
OPEC said the oil market outlook in the second half of 2018 is highly uncertain even though the producer group’s figures show a global glut has ended, suggesting talks next Continue Reading