U.S. oil firms tell OPEC their growth will slow
U.S. oil producers sought on Wednesday to soothe OPEC’s worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher Continue Reading
IMF cuts 2019, 2020 oil price forecasts on global demand concerns
The International Monetary Fund Monday cut its forecast for average oil prices to just below $60/b in 2019 from close to $70/b in its last World Economic Outlook in October Continue Reading
Why OPEC+ Output Cuts Take So Long To Materialize
The oil production cuts that OPEC and its partners led by Russia agreed at the end of last year are proving slower to materialize than most observers expected, with Russia Continue Reading
IMF Slashes Saudi Growth Outlook On Lower Oil Prices, Production
The International Monetary Fund (IMF) cut on Monday its forecast for Saudi Arabia’s economic growth this year to 1.8 percent, down by 0.6 percentage point from the previous economic outlook Continue Reading
IEA: OPEC+ Cuts Put Floor Under Oil Prices
The “journey to a balanced market will take time, and is more likely to be a marathon than a sprint.” The International Energy Agency (IEA) said that the OPEC+ cuts Continue Reading
IEA Sees Oil Demand Growth Defying Slowing Economy
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Continue Reading
This Is How Much Each OPEC+ Member Needs To Cut
OPEC published on Friday the long-awaited list of oil production quotas for each country in the OPEC+ deal, as it seeks to shore up market confidence that the cartel and Continue Reading
IEA lowers Q2, Q3 ‘call’ on OPEC crude oil estimates
The International Energy Agency on Friday raised its estimate of the increase in non-OPEC oil supply this year on the back of supply surges from Russia and the US and Continue Reading
OPEC December Production Data
Qatar has left OPEC and is not included in this months report. All Qatar historical data has been removed from all OPEC charts. OPEC 14 production was down by 751,000 Continue Reading
OPEC+ To Hold Extraordinary Meeting On April 17-18 In Vienna
OPEC has decided to hold an extraordinary full ministerial meeting on April 17 in Vienna to discuss the state of the oil market and the production cut deal, while the Continue Reading