OPEC September 2019 Oil Production
Data for the OPEC charts below were taken from the October OPEC Monthly Oil Market Report OPEC 14 crude oil production was down1,318,000 barrels per day in September. Most of Continue Reading
OPEC Chief Invites All 97 Oil Producers To Join OPEC+ Coalition
Increased cooperation is the best recipe for overcoming intensified uncertainties and heightened volatility on the global oil market, OPEC Secretary General Mohammad Barkindo said this week, inviting all 97 oil Continue Reading
Russia And OPEC Will Soon Face Test In Taming Oversupply Of Oil
The latest mission by OPEC and its partners to contain a crude oil glut is entering its most critical phase. Saudi Arabia, Russia and other major crude exporters have struggled Continue Reading
IEA does not expect ‘huge increase’ in crude prices: executive director
The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Continue Reading
OPEC’s Oil Giants Give Trading Houses A Run For Their Money
OPEC is currently restricting production to keep oil prices from tumbling in an oversupplied market fearful of faltering demand growth. But the national oil companies (NOCs) of the cartel’s largest Continue Reading
IEA: Huge Oil Glut Coming In 2020
The oil market saw a rather significant surplus in the first half of 2019, much larger than previously expected. Looking forward, supplies are set to tighten in the second half Continue Reading
OPEC Oil Production Drops In June On New Supply Outages
OPEC’s oil production dropped by another 68,000 bpd to 29.83 million bpd in June, as output from Iran and Libya—exempt from the production cut pact—and other members offset large increases Continue Reading
OPEC sees lower 2020 demand for its oil, points to surplus
OPEC on Thursday forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain Continue Reading
US EIA sees flat June OPEC output as Saudi rise offsets Iranian decline
Venezuela’s output falls to 690,000 b/d as sanctions deadline looms Iraq, UAE to be main sources of OPEC growth in 2019 EIA sees ‘generally balanced’ market in 2020 Washington — Continue Reading
OPEC+ oil deal will lower inventories and stabilize prices: Iraqi oil minister
FILE PHOTO: Iraqi Oil Minister Thamer Ghadhban speaks to the media at the ministry’s headquarters in Baghdad, Iraq October 31, 2018. REUTERS/Khalid Al-Mousily/File Photo BAGHDAD (Reuters) – The OPEC+ group’s Continue Reading