Having helped wrestle the oil market from its latest bust, OPEC is now setting its sights at avoiding the next one. While insisting that its work to drain oil inventories Continue Reading
The latest discussions between OPEC and its oil-producer allies concluded that the supply glut is dissipating at a faster pace than previously anticipated. (Bloomberg) — The latest discussions between OPEC Continue Reading
The OPEC deal is closer than ever to meeting its market rebalancing goals, with OECD inventories now just 74 million barrels above the five-year average recorded in January 2017, according Continue Reading
OPEC and Russia, along with other countries participating in the oil production cuts aimed at balancing the market, are looking to create a “super group of oil producing countries,” according Continue Reading
An OPEC effort to balance the market, which includes support from producers like Russia, has added about $25 per barrel to oil, the Saudi oil minister said. The Organization of Continue Reading
The next Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) will be held in April in Saudi Arabia, Russian RIA news agency reported on Sunday, citing an OPEC statement. It also said Continue Reading
Oil market still isn’t fully re-balanced, Russia’s Novak says It’s unclear whether inventories will drop at same pace: Falih OPEC and Russia reaffirmed that they’ll persevere with oil-production cuts until Continue Reading
It’s too early in 2018 to discuss stabilization for oil prices, which are down 2 percent from their peak, but up 3.5 percent so far, a Russian official said. Crude Continue Reading
U.S. shale suppliers are forcing OPEC to revise upward its estimates for supplies originating outside the bloc’s member nations, according to the latest data released by the bloc. Non-OPEC production Continue Reading
The latest OPEC Monthly Oil Market Report is out with production numbers for December 2017. All data is in thousand barrels per day. (Click to enlarge) Total OPEC crude only Continue Reading
