Is OPEC moving the goalposts for its oil market scoreline?
Saudi Arabia’s proposals of new metrics to determine when the oil market is balanced signals a shift in OPEC’s targets for a pact on supply cuts that has almost achieved Continue Reading
OPEC Price Fight Weighs on Oil
Oil prices fell Monday, weighed down by concerns about a rapid rise in U.S. crude output as cracks emerged in OPEC’s united front on output cuts. Light, sweet crude for Continue Reading
OPEC Deal In Jeopardy As Iran And Saudi Arabia Square Off
Iran and Saudi Arabia are at odds over what to do next with the OPEC agreement, a conflict that could sow the seeds of the agreement’s demise over the course Continue Reading
U.S. Oil Export Surge Means OPEC’s Output Cuts May Be Doomed
ING sees U.S. eating into producer group’s Asian market share Dutch bank forecasts Brent oil at $57/bbl in second half 2018 Oil risks sliding back under $60 a barrel as Continue Reading
OPEC Exports To The U.S. Continue To Decline
In the latter half of last year, we highlighted how Saudi deliveries to Motiva’s Port Arthur refinery had been surpassed by Iraqi barrels for the first time on our records. Continue Reading
Russia Not Joining OPEC, But Need To Cooperate Is ‘Obvious’
Russia sees no reason to join OPEC, but the need to continue the OPEC/non-OPEC cooperation in some form after the production cuts end is obvious , Russia’s first deputy minister Continue Reading
OPEC FEB CRUDE OIL OUTPUT 32.39 MIL B/D, DOWN 70,000 B/D FROM JAN: PLATTS SURVEY
OPEC production well below ceiling of 32.73 million b/d Saudi output 9.98 mil b/d, Iraq 4.43 mil b/d, Iran 3.83 mil b/d Libya crosses 1 mil b/d threshold, Nigeria hits Continue Reading
U.S. shale and OPEC share steak in uneasy truce at Houston dinner
Around the room at Houston’s The Grove restaurant on Monday, at several tables, sat a group of shale executives, interspersed with energy ministers and officials representing OPEC members, where they Continue Reading
Opec says hedge funds lack ‘basic understanding’ of oil
Hedge funds are an important players in the oil market, but some do not comprehend how it works, a senior Opec official has said. Mohammad Barkindo, the cartel’s secretary-general, met Continue Reading
IEA Predicts Nightmare Scenario For OPEC
Over the next three years, the U.S. will cover 80 percent of the world’s demand growth, the IEA says in its newly-released Oil 2018 annual report. Canada, Brazil and Norway Continue Reading