Not All OPEC Members Benefit Equally From Higher Oil Prices
OPEC’s efforts to erase the oil glut and lift oil prices paid off as the cartel reaped higher revenues from crude oil exports in 2017, but the spoils were unevenly Continue Reading
OPEC meeting ‘might be one of the worst since 2011’ amid differences over supply
The forthcoming meeting between OPEC and non-OPEC oil producers, including Russia, could be one of the most fractious in recent years with competing interests and demands at play, according to Continue Reading
OPEC data offer glimpse at GDP impact of production cuts
Angola, Libya, and Iran led the pack among OPEC members when comparing GDP figures from before and after the group’s production agreement, data show. Economists at the Organization of Petroleum Continue Reading
Trump requested Saudi oil support before Iran nuclear decision – sources
A day before U.S. President Donald Trump withdrew from the Iran nuclear deal, one of his senior officials phoned Saudi Arabia to ask the world’s largest oil exporter to help Continue Reading
Goldman: OPEC Must Raise Production
While many market participants view the recent talk of OPEC potentially raising oil production by as much as 1 million bpd as a bearish factor for oil prices, Goldman Sachs Continue Reading
Anti-Qatar Threats Could Jeopardize OPEC Meeting
The OPEC meeting on June 22nd could become a major showdown of internal conflicts. The media has been focusing on the possible split between the Arab producers and Iran, and Continue Reading
U.S. Asks OPEC for 1 Million Barrel a Day Oil Output Hike
The U.S. government has quietly asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels a day, according to people familiar with the Continue Reading
New Iraqi Lawmakers Want Out Of OPEC Deal
Some newly elected Iraqi lawmakers, linked with populist Shiite cleric Moqtada al-Sadr whose alliance won the elections last month, are not sure that Baghdad’s participation in the OPEC production cut Continue Reading
U.S. asks OPEC producers to pump more oil, no specific figure -sources
The United States government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, but it has not requested a specific figure, three OPEC and industry Continue Reading
OPEC’s Dilemma: Demand Destruction Or Production Boost
OPEC and Russia are considering raising oil production in a few weeks’ time, and while much of the focus has (rightly) been on the supply outages in Venezuela and the Continue Reading