OPEC Production Data for October 2019
All OPEC charts below were taken from the OPEC Oil Market Report . The data is in thousand barrels per day and is through October 2019 OPEC 14 bounced back Continue Reading
OPEC Braces For Drastic Drop In Oil Demand
OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply Continue Reading
OPEC grapples with US tight oil but sees market share improving long-term
OPEC World Oil Outlook sees US tight oil peak in 2029 OPEC supplies needed to meet global demand: Barkindo 2040 demand forecast revised downward Vienna — OPEC’s share of the Continue Reading
Too many refineries, not enough product demand will lead to closures, OPEC says
Vienna — OPEC on Tuesday said it expects 2.1 million b/d of refining capacity to be shuttered through 2025 due to overcapacity, and another 5 million b/d of further closures Continue Reading
Analysis: OPEC’s rebuttal to keep-it-in-the-ground activists: The world needs more oil
OPEC’s World Oil Outlook projects 12% demand rise by 2040 Fossil fuel bans would exacerbate energy poverty, OPEC says Renewables growing, but oil and gas to remain dominant fuels Vienna Continue Reading
What’s Behind The Spike In OPEC Oil Production?
OPEC’s crude oil production rebounded in October from multi-year-lows in September after top producer Saudi Arabia managed to recover supply lost in the mid-September attacks, more than offsetting unexpected production Continue Reading
OPEC Is Looking For Another Member
OPEC’s top producer and de facto leader Saudi Arabia has informally asked Brazil to join the organization, Brazilian President Jair Bolsonaro said on Wednesday, adding that he would personally like Continue Reading
Will OPEC+ Extend the Cuts?
OPEC+ will, at the very least, extend production curbs beyond the March 2020 deadline. That’s according to Stephen Brennock, an oil analyst at PVM Oil Associates, who said failure to Continue Reading
Will The U.S. Shale Slowdown Save OPEC?
Russia and its OPEC partners in the production cut deal will take into account the slowing U.S. shale production growth at their December meeting to discuss the agreement, Russia’s Deputy Continue Reading
The OPEC Oil Price Jawboning Has Officially Begun
Oil prices showed some signs of life this week after reports suggested that OPEC+ might consider deeper production cuts at the December meeting in Vienna. Sources told Reuters that the Continue Reading