The price for crude oil next year should be around the so-called Goldilocks number for shale oil drillers in the United States, OPEC economists said. The Goldilocks scenario refers to Continue Reading
OPEC Monthly Oil Market Report. All data is through September 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the 14th member Continue Reading
All data below is based on the latest OPEC Monthly Oil Market Report . All data is through September 2017 and is in thousand barrels per day. The above chart Continue Reading
WTI recently dipped below $50 per barrel for the first time in a month, erasing the strong September rally. It’s no coincidence that after two weeks of price declines, OPEC Continue Reading
OPEC Secretary General Mohammad Sanusi Barkindo calls North American shale producers to do their part in the effort to balance an oversupplied market for crude oil. Photo courtesy of the Continue Reading
OPEC’s Secretary General Mohammed Barkindo on Tuesday called on U.S. shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the Continue Reading
The oil market is rebalancing but OPEC cannot “afford to letup” on its production cuts in the face of rising non-OPEC supplies next year, trading house Gunvor’s CEO Torbjorn Tornqvist Continue Reading
Re-balancing of oil market is underway: OPEC Secretary-General More measures may be needed to sustain recovery into next year Oil producers are succeeding in re-balancing an oversupplied market, though they Continue Reading
OPEC Sep crude oil output up slightly from Aug on more from Libya, Iraq: Platts survey Venezuelan output slumps to 1.86 mil b/d Libyan output recovery still volatile, production up Continue Reading
Saudi Arabia hopes to reach a consensus with Russia and other major oil producers on the future of a global deal to cut oil output before an OPEC meeting in Continue Reading
