Higher Oil Prices Are OPEC’s Only Concern
OPEC could achieve its goal of eliminating the oil inventory surplus this month. But the goal posts will now move to another metric in order to justify keeping the production Continue Reading
OPEC April oil output hits year low on Venezuela slide: Reuters survey
OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers, a Reuters survey found, sending compliance with a Continue Reading
OPEC Cuts May Go Deeper as Another Member Sees Output Slump
Angola’s crude exports fall to lowest since at least 2008 OPEC disruptions could send prices above $80 a barrel: BofAML While plunging output in Venezuela captures the oil world’s attention, Continue Reading
Oil investment may prove a tricky target for OPEC
It’s “mission accomplished” for OPEC in its battle against bulging global inventories of oil, thanks to the production cuts it has had in place for nearly 18 months. The Organization Continue Reading
Iran Pushes Back Against The OPEC Deal
Extending the OPEC cuts beyond their current expiry date at the end of 2018 would seem unnecessary if oil prices keep rising, Iran’s Oil Minister Bijan Zangeneh told the Iranian Continue Reading
Oil rebounds even as Iran dashes hopes of OPEC cut extension
Global benchmark Brent crude turned positive in volatile trade on Monday as it jockeyed between downward pressure after Iran dashed hopes that OPEC would extend its production cap pact and Continue Reading
OPEC’s Biggest Problem
A constant feature of the oil market is the prospect of unforeseen supply outages, whether from war, industrial accidents, sabotage, natural disasters or more mundane operational problems. These outages range Continue Reading
OPEC Strategy Bears Fruit As Oil Prices Break Out
In late 2016 OPEC engineered significant oil production cuts in order to address an oversupplied oil market. Global crude oil inventories had reached record highs, and the price of oil Continue Reading
OPEC, Russia Back Continued Oil Cuts, Drawing Trump Ire
A group of some of the world’s biggest crude producers said they would keep a tight grip on output for the rest of the year, and perhaps into next, capitalizing Continue Reading
UAE says top oil producers committed to supply cuts until year end
All OPEC and non-OPEC oil producers including Russia are committed to supply cuts until the end of the year, UAE Energy Minister Suhail Mohamed al-Mazrouei said on Monday. UAE’s Oil Continue Reading