The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. The expected Continue Reading
The International Energy Agency warned on Thursday that spare oil production capacity risks being “stretched to the limit” as supply disruptions and US sanctions against Iran tighten the market. The Continue Reading
Demand got off to a strong start this year with global 1Q18 growth at over 2 mb/d, helped by cold weather in the northern hemisphere. Recent data, however, point to a slowdown, with Continue Reading
Since our last report, OPEC oil ministers and ten non-OPEC oil ministers have met and agreed to achieve 100% compliance with the Vienna Agreement (i.e. they will increase production). What this means Continue Reading
All data below is from the OPEC Monthly Oil Market Report . All data is in thousand barrels per day and is through June 2018. The Republic of the Congo Continue Reading
OPEC is doing its best to offset supply disruptions around the world, but it has no intention of “overdoing it”, Bloomberg reports , citing the cartel’s president, UAE’s energy minister Continue Reading
The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC Continue Reading
Iran’s oil minister on Saturday accused U.S. President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding Iranian oil production and exports had not Continue Reading
Highlights Libya turmoil sees output plummet 250,000 b/d Angola continues slide to 20-month low Venezuela posts 610,000 b/d year-on-year drop Iran falls to 3.8 mil b/d, Iraq rises to 4.54 Continue Reading
US President Donald Trump Wednesday again tweeted critical comments against OPEC, claiming that the producers’ group was driving up domestic gasoline prices while the US provides many members with military Continue Reading
