OPEC sees oil’s rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not Continue Reading
Commercial oil stocks in industrialized economies have fallen to their lowest level in three years, the International Energy Agency said Wednesday, in the latest sign that the global supply glut Continue Reading
A global oil glut has been virtually eliminated, figures published by OPEC showed on Monday, thanks to an OPEC-led pact to cut supplies that has been in place since January Continue Reading
The OPEC charts below were created with data from the OPEC Monthly Oil Market Report. The PDF File can be downloaded from here: OPEC MOMR All OPEC data is through Continue Reading
In OPEC’s May Oil Market Report, the group noted that non-OPEC supply continues to grow at a rapid rate, adding 0.87 million barrels per day (mb/d) in 2017, with expectations Continue Reading
Oil prices higher than the current levels may not be good news for major oil producers in the medium and long term, as consumers will seek alternatives to refined oil Continue Reading
As has been widely discussed in the aftermath of President Trump’s decision to withdraw from the Iran nuclear deal, the return of sanctions on Iran could disrupt oil shipments, with Continue Reading
Iraqi Oil Minister Jabar al-Luaibi said on Wednesday that OPEC will discuss a possible shortfall in global crude oil supplies following U.S. President Donald Trump’s decision to withdraw from the Continue Reading
United Arab Emirates Energy Minister Suhail al-Mazroui said on Tuesday that OPEC and non-OPEC efforts to rebalance the oil market and encourage oil investment “are progressing well”. “OPEC is a Continue Reading
Venezuela output lowest in survey history, save ’02-’03 strike Angola production falls to 18-month low Saudi output 9.95 mil b/d, Iraq 4.42 mil b/d, Iran 3.83 mil b/d OPEC crude Continue Reading
