World oil market ‘adequately supplied for now’: IEA
Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Continue Reading
IEA Lowers Oil-Demand Growth Forecasts
The demand revisions come as oil prices surged to four-year highs in early October, with Brent crude—the global benchmark—temporarily breaching the $85-a-barrel threshold. Prices have been bolstered by declining Iranian Continue Reading
International Energy Agency Monthly Report
Highlights (12 October 2018) The forecast for demand growth in 2018 and 2019 has been reduced for both years by 110 kb/d to 1.3 mb/d and 1.4 mb/d, respectively. This is due to a weaker economic outlook, Continue Reading
OPEC says oil market well supplied, wary of 2019 surplus
OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group’s secretary-general said on Thursday, suggesting producers are in no rush to Continue Reading
OPEC: Venezuelan, Iranian monthly oil production down in September
Oil production in Venezuela, a country with the world’s biggest reserves, reached a new low in September as it goes through political and economic instability, declining 3.4 percent in September Continue Reading
OPEC Turns On The Taps To Counter Iranian Outages
Iran’s crude oil production dropped by 371,000 bpd between the second quarter of this year—when the U.S. announced the return of the sanctions—and September, according to the secondary sources in Continue Reading
OPEC Continues To Cut Oil Demand Growth Forecasts
OPEC has revised down its oil demand growth estimates for this year and next—a third downward revision in as many months—citing potential headwinds to global economic growth ranging from trade Continue Reading
OPEC September Production Data
The below charts were created with data from the OPEC Monthly Oil Market Report and the data through September 2018 . OPEC crude only was up 132,000 barrels per day Continue Reading
IEA’s Birol warns global oil prices may enter the ‘red zone’ in Q4 2018
The head of International Energy Agency warned Tuesday that oil prices are set to enter the “red zone” during the fourth quarter of 2018, threatening to hit demand growth as Continue Reading
Russia minister considers joining OPEC unnecessary, unreasonable
Russia’s Energy Minister Alexander Novak considers unnecessary for the country to join the Organization of Petroleum Exporting Countries, or OPEC, as the current relationship makes it possible to reach accords Continue Reading