A global oil glut has been virtually eliminated, figures published by OPEC showed on Monday, thanks to an OPEC-led pact to cut supplies that has been in place since January Continue Reading
The OPEC charts below were created with data from the OPEC Monthly Oil Market Report. The PDF File can be downloaded from here: OPEC MOMR All OPEC data is through Continue Reading
In OPEC’s May Oil Market Report, the group noted that non-OPEC supply continues to grow at a rapid rate, adding 0.87 million barrels per day (mb/d) in 2017, with expectations Continue Reading
As has been widely discussed in the aftermath of President Trump’s decision to withdraw from the Iran nuclear deal, the return of sanctions on Iran could disrupt oil shipments, with Continue Reading
Iraqi Oil Minister Jabar al-Luaibi said on Wednesday that OPEC will discuss a possible shortfall in global crude oil supplies following U.S. President Donald Trump’s decision to withdraw from the Continue Reading
United Arab Emirates Energy Minister Suhail al-Mazroui said on Tuesday that OPEC and non-OPEC efforts to rebalance the oil market and encourage oil investment “are progressing well”. “OPEC is a Continue Reading
Venezuela output lowest in survey history, save ’02-’03 strike Angola production falls to 18-month low Saudi output 9.95 mil b/d, Iraq 4.42 mil b/d, Iran 3.83 mil b/d OPEC crude Continue Reading
OPEC could achieve its goal of eliminating the oil inventory surplus this month. But the goal posts will now move to another metric in order to justify keeping the production Continue Reading
OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers, a Reuters survey found, sending compliance with a Continue Reading
Angola’s crude exports fall to lowest since at least 2008 OPEC disruptions could send prices above $80 a barrel: BofAML While plunging output in Venezuela captures the oil world’s attention, Continue Reading
