Oman’s oil minister Mohammed bin Hamad al-Rumhi called on all OPEC and non-OPEC producers who took part in the global supply cut pact to continue their cooperation to maintain suitable Continue Reading
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from Continue Reading
OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel’s agreement to cut production , even as the world’s total oil supply continued to Continue Reading
All OPEC data below was taken from the April issue of The OPEC Monthly Oil Market Report . The data is through March 2018 and is thousands of barrels per Continue Reading
The rally in oil prices over the past year likely had more to do with higher demand rather than merely the supply taken off of the market by the OPEC/non-OPEC Continue Reading
A majority of the OPEC and independent oil producers participating in a current deal to cut supply like the idea of a long-term producers’ alliance, the energy minister of the Continue Reading
A thaw in the trade relationship between China and the United States and talk of $80 oil put crude oil prices squarely in rally mode in Tuesday trading. Without naming Continue Reading
The International Energy Agency has long received criticism for its energy forecasts, which, as is typical with any long-term projections, often miss the mark. But a new report accuses the Continue Reading
Venezuelan output plunges as refining woes aggravate Saudi output 9.92 mil b/d, Iraq 4.46 mil b/d, Iran 3.82 mil b/d Angolan production falls to 18-month low UAE, Iraq, Ecuador see Continue Reading
Crude oil prices jumped a percent today on comments from Saudi Arabia’s Energy Minister Khalid al-Falih, who said he expected the OPEC+ production cut deal would be extended into next Continue Reading
