With the US entrance into the crude oil exporting market and little change in global loading, production may not be the only weight on commodity prices and crude oversupply. Although Continue Reading
Net-long position on WTI rose by most this year: CFTC U.S. supply drop will be key to sustaining the enthusiasm Hedge funds are giving OPEC some credit again. Following four Continue Reading
Saudi Arabia signals curbs will be rolled into next year Oil market attention shifts to potential oversupply in 2018 When Khalid Al-Falih arrived at Davos in late January, the Saudi Continue Reading
The Organization of the Petroleum Exporting Countries deserves a pretty good grade, arguably a B-plus, for its effort to prop up the world oil market. That may not be reflected Continue Reading
Six months after restricting their oil output in an effort to raise global crude prices, some members of OPEC are pushing for a broader effort to reduce petroleum production, say Continue Reading
“Well he would say that, wouldn’t he.” Mandy Rice Davies at the time of the Profumo scandal, 1963. OPEC has mounted yet another charm offensive as a result of last Continue Reading
Saudi Arabia signals curbs will be rolled into next year Oil market attention shifts to potential oversupply in 2018 When Khalid Al-Falih arrived at Davos in late January, the Saudi Continue Reading
OPEC members and their partners in the oil production cut agreements from last November and December have reached a consensus to extend the deal until the end of 2017, the Continue Reading
If OPEC was a person, you’d recommend either therapy or that it cut its losses and start licking its wounds. As Bill Baruch, chief market strategist at iiTRADER told marketwatch.com Continue Reading
OPEC on Thursday boosted its forecast for 2017 oil-production growth from countries outside the cartel by more than 60%. It is the latest evidence that surging U.S. production is dragging Continue Reading
Oil cuts to be extended by six months: Iraq, Algeria ministers OPEC to make formal decision at May 25 meeting in Vienna OPEC and other oil producers taking part in Continue Reading
Non-OPEC to grow 950,000 barrels a day in 2017, led by U.S. Outlook for non-OPEC now 4 times higher than at outset of cuts OPEC boosted estimates for growth in Continue Reading
OPEC on Thursday sharply raised its forecast for oil supply from non-member countries in 2017 as higher prices encourage U.S. shale drillers to pump more, hampering OPEC efforts to clear Continue Reading
Saudi Arabia’s energy minister Khalid al-Falih tried to put the markets at ease by all but confirming that OPEC would extend its production cuts through the end of the year. Continue Reading
When it comes to the oil market, the narrative over the past year, ever since OPEC’s first aborted its meeting last April, has been just one: limit crude supply in Continue Reading
Crude oil prices are slumping, and everyone is clamoring to know: how far can oil fall? Is this a buying opportunity, or is the selloff likely to worsen? Bloomberg recently Continue Reading
OPEC and its cartel of friends must be sweating condensates in advance of their May 25th meeting. The oil price war, triggered almost three years ago, is far from over. Continue Reading
Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC-led deal to cut output during Continue Reading
Opec and Russia are on course to extend their oil output cuts in an attempt to draw down supplies and bolster the price, with Saudi Arabia saying the cartel is Continue Reading
Prolonging cuts will speed up rebalancing of market: Novak Saudi Minister Al-Falih confident of agreement to extend Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling Continue Reading
Producer group determined to reach goal of reducing stockpiles U.S. shale output has slowed impact of OPEC’s production curbs Saudi Arabia’s oil minister said he’s confident that an agreement by Continue Reading
Saudi energy minister Khalid al-Falih said Monday at an industry conference in Kuala Lumpur that he was confident that the crude oil output cut deal will be extended by six Continue Reading
OPEC officials maintain market is rebalancing Cut extension details still in flux Market has priced in extension, say analysts The price swoon of the last few weeks has no doubt Continue Reading
OPEC and non-OPEC oil producers look likely to extend their agreement to limit supplies beyond its June expiry to help clear a glut, three OPEC delegates said on Thursday, downplaying Continue Reading
American output has longest run of gains in more than 4 years Commodities tumble amid concern Chinese consumption to weaken The oil rally following OPEC’s deal has disappeared. Futures on Continue Reading
Pipelines are seen at the industrial zone at the oil port of Brega, Libya, January 12, 2017. OPEC oil output fell for a fourth straight month in April, a Reuters Continue Reading
An oil derrick and wind turbines stand above the plains north of Amarillo, Texas, U.S., March 14, 2017. U.S. crude production is surging, complicating OPEC’s efforts to rebalance the oil Continue Reading
Output limits are helping re-balance crude market: Al Mazrouei Extension in cuts must be consensus decision, minister says OPEC and allied oil producers should extend their collective production cuts into Continue Reading
Has OPEC failed? That’s the question analysts have begun to ask , approaching the group’s next meeting later this month. When the members gather at their headquarters in Vienna, it Continue Reading
The likelihood of OPEC and major non-OPEC producers agreeing to extend their ongoing crude oil output cut is near certain, two prominent analysts said Monday. Related article: OPEC faces challenging Continue Reading
The jawboning of oil prices by the Saudi Arabian/Russian tag team should be wearing off after more than a year of actions that don’t measure up to the words. Oil Continue Reading
OPEC could extend its crude oil production cut agreement by less than six months – the period that is widely assumed to be the logical continuation of the initial deal, Continue Reading
OPEC Sec Gen says US is outside the global trend of cutting crude production for the sake of market stability, but in reality, tight oil companies made market-driven cuts before Continue Reading
Since the start of OPEC’s production cuts, oil market analysts and experts have been focusing on how U.S. shale would respond to the relatively higher and stable oil prices, possibly Continue Reading
Supply and demand in the oil market could fall into balance by the end of this year if OPEC and its partners extend their deal to reduce crude output, a Continue Reading
Just as we warned yesterday following the EIA inventory and production data release, the exuberance over the crude draw was misplaced (due to the surge in product builds and almost Continue Reading
OPEC wants oil inventories to decline further and is working to ensure a policy-setting meeting in May reaches consensus, the group’s secretary-general said on Thursday in comments pointing to an Continue Reading
Consensus is moving in direction of prolonging deal: Al-Falih Saudi minister will speak to Russian counterpart this week The energy ministers of OPEC members Saudi Arabia and Venezuela plan to Continue Reading
It now seems quite likely that OPEC will agree to an extension of November’s production cut agreement at their May meeting. The question facing analysts and market watchers is how Continue Reading
OPEC complies with its production cut deal, but one month before the cartel returns to Vienna to consider an extension, crude oil’s march toward market stability and a $65 per Continue Reading
Production cuts need to be extended through 1H 2018: Fesharaki Onshore oil inventories are still rising, FGE founder says OPEC needs a year more to accomplish what’s at the moment Continue Reading
An OPEC and non-OPEC technical committee recommended that producers extend a global deal to cut oil supplies for another six months from June, a source familiar with the matter said, Continue Reading
Russia has cut 250,000 bpd of its crude oil output, with another 50,000 bpd to go as per its agreement with OPEC, Energy Minister Alexander Novak told media today, adding Continue Reading
Saudi minister says producers haven’t met goal for inventories Gulf Arabs agreed; Iran, Venezuela show support: Oman minister A number of major crude-producing countries reached an initial agreement to extend Continue Reading
OPEC continues to make progress on cooperation as they close in on an agreement to extend their production cuts for another six months. On April 20, several top OPEC officials Continue Reading
OPEC is likely to reach an agreement to extend the group’s production cuts into the second half of 2017, Saudi Arabia’s energy minister said Thursday. Saudi support is essential for Continue Reading
The members and non-members of OPEC that participated in the global agreement to reduce oil production in November will be meeting on May 25th – the day of the bloc’s Continue Reading
An extension to an agreement by members of the Organization of the Petroleum Exporting Countries and producers outside the group to cut crude-oil production is most likely needed, but perhaps Continue Reading
OPEC Secretary General Mohammad Barkindo listens during a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016. OPEC Secretary-General Continue Reading
Mid-$60 oil seen by end-2017 as effects of OPEC cuts increase Bank sees commodity investment flows rising in second quarter Citigroup Inc. joined Goldman Sachs Group Inc. in backing commodities, Continue Reading
