OPEC May Production Data
The below charts, unless otherwise noted, were taken from the OPEC Monthly Oil Market Report . The data is through May, 2019 and is in thousand barrels per day. OPEC Continue Reading
Russia’s Gazprom Neft urges OPEC to raise oil output quotas
OPEC and non-OPEC producers should raise oil production starting from the second half of the year in order to keep the market balance and acceptable oil prices, Alexander Dyukov, the Continue Reading
OPEC cuts oil demand outlook, building case to keep supply curbs
OPEC has cut its forecast for growth in global oil demand due to trade disputes and pointed to the risk of a further reduction, building a case for prolonged supply Continue Reading
OPEC says trade disputes, geopolitics, rising non-OPEC supply make for challenging 2H19
OPEC on Thursday said it faces a challenging second half of 2019, with demand-dampening trade disputes combining with expected robust non-OPEC supply growth to complicate the producer bloc’s oil market Continue Reading
OPEC, Russia nearing accord on long term oil supply coordination: Nikkei
OPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan’s Continue Reading
OPEC Production Falls To 5-Year Low As Demand Forecasts Sour
OPEC brought its oil production down to 29.876 million barrels per day in May according to the latest edition of OPEC’s Monthly Oil Market Report (MOMR) released on Thursday—a five-year Continue Reading
Analysis: Setting an OPEC meeting date isn’t proving easy, what comes next could be harder
For all the geopolitical acrimony between the two countries, on the matter of OPEC oil production policy Saudi Arabia and Iran would appear aligned. Slumping prices and persistent builds in Continue Reading
OPEC crude oil output shrinks in May, as Saudis cut further: S&P Global Platts survey
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran Continue Reading
OPEC crude oil output shrinks in May, as Saudis cut further: S&P Global Platts survey
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran Continue Reading
Russia sees too many uncertainties in oil market to commit to further cuts: Novak
Russia is not ready to commit to further production cuts under an OPEC/non-OPEC supply accord, with the oil market facing many uncertainties in the months ahead, the country?s energy minister Continue Reading