Total OPEC production up slightly in December
Though Venezuelan oil production is lower than it’s been in more than a decade, its fellow OPEC members picked up the slack, a market survey found. A survey of production Continue Reading
OPEC oil cut adherence rises in Dec as Venezuela output slides: survey
OPEC deepened compliance with an oil supply-cutting deal in December due to a further decline in Venezuelan output and extra cuts by Gulf exporters, a Reuters survey found, showing strong Continue Reading
OPEC vs Shale: The Oil Saga Continues
The continuous rise in U.S. shale production last year offset part of the OPEC–Russia production cuts and capped oil price gains. Supported by the global inventory drawdown and geopolitical woes, Continue Reading
OPEC Should Thank Venezuela For Falling Production
OPEC’s crude oil production remained largely unchanged from November in December, but that was mostly thanks to a 50,000-bpd decline in Venezuela’s production, as well as further cuts in Saudi Continue Reading
Oil Resurrection Sets Stage for Another OPEC-Shale Clash in 2018
OPEC cuts drive price gain as threat of U.S. output persists WTI, Brent up more than 11% this year; set for 2nd annual gain Oil’s revival from the biggest crash Continue Reading
Oil Market Will Rebalance By March: Iraqi Minister
With what has now become habitual optimism, the Iraqi oil minister, Jabar al Luaibi, said he expected the global oil market to rebalance by the end of the first quarter Continue Reading
2018 Could See The OPEC Deal Collapse
The OPEC extension keeps the oil market on track to balancing at some point next year, but if the group overshoots on tightening, OPEC members could begin cheating, potentially leading Continue Reading
Oil producers to discuss exit plans from cuts once market near balance: Russia
Oil producers will discuss an exit strategy for their deal on cutting output once the market moves closer towards being balanced, Russian Energy Minister Alexander Novak said in remarks published Continue Reading
Russia backs gradual, managed exit from oil cuts with OPEC
OPEC and Russia will exit from oil production cuts very smoothly, possibly extending the curbs in some form so as not to create any new surplus in the market, the Continue Reading
OPEC starts working on oil supply cut exit strategy: sources
OPEC has started working on plans for an exit strategy from its deal to cut supplies with non-member producers, two OPEC sources said, a sign that an eventual winding down Continue Reading