What The Saudi-Russian Alliance Means For Oil Markets
For the last three or four decades it would be very hard to imagine any sort of deep cooperation between Saudi Arabia and Russia. The two share a history fraught Continue Reading
OPEC Doubles Down On Draining Oil Inventories
Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five-year average—the metric that OPEC has vowed to achieve Continue Reading
Russia mulls fate of OPEC-led balancing act
Russia is considering a wide range of scenarios on what to do with a multilateral effort to balance the global oil market, its energy minister said. Russia is the largest Continue Reading
Is OPEC Producing More Oil Than It Claims?
The March OPEC Monthly Oil Market Report is out with the February production data. All data is through February 2018 and is in thousand barrels per day. (Click to enlarge) Continue Reading
Russia Could Pull The Plug On The OPEC Deal
Russia could pull out of the OPEC oil production cut deal before the end of 2018—or right after—as it has no obligation to stick with it, Iran’s Energy Minister, Bijan Continue Reading
OPEC sees oil supply surge from rivals, countering its cuts
OPEC on Wednesday raised its forecast for non-member oil supply this year to almost double the growth predicted four months ago as higher prices spur U.S. shale drilling, offsetting OPEC-led output cuts and a collapse Continue Reading
OPEC Admits Rival Oil Supply Will Outpace Global Demand Growth
As it had done in several consecutive monthly reports, OPEC lifted again on Wednesday its estimates for non-OPEC oil supply growth this year, but this time the cartel’s estimates that Continue Reading
OPEC February Production Data
The March OPEC Monthly Oil Market Report is out with the February production data. All data is through February 2o18 and is in thousand barrels per day, C OPEC crude Continue Reading
OPEC Sees Oil Supply Surge From Rivals, Countering Its Cuts
OPEC raises its forecast for oil supply from non-member countries in 2018 as higher prices encourage US shale drillers to pump more. LONDON, March 14 (Reuters) – OPEC on Wednesday Continue Reading
Nigeria: OPEC Admits United States Shale May Crash Oil Price
Abuja — The Organisation of Petroleum Exporting Countries (OPEC) has admitted for the first time that the growing crude oil output from the United States (U.S.) may threaten the price Continue Reading