Is OPEC Producing More Oil Than It Claims?
The March OPEC Monthly Oil Market Report is out with the February production data. All data is through February 2018 and is in thousand barrels per day. (Click to enlarge) Continue Reading
Russia Could Pull The Plug On The OPEC Deal
Russia could pull out of the OPEC oil production cut deal before the end of 2018—or right after—as it has no obligation to stick with it, Iran’s Energy Minister, Bijan Continue Reading
OPEC sees oil supply surge from rivals, countering its cuts
OPEC on Wednesday raised its forecast for non-member oil supply this year to almost double the growth predicted four months ago as higher prices spur U.S. shale drilling, offsetting OPEC-led output cuts and a collapse Continue Reading
OPEC Admits Rival Oil Supply Will Outpace Global Demand Growth
As it had done in several consecutive monthly reports, OPEC lifted again on Wednesday its estimates for non-OPEC oil supply growth this year, but this time the cartel’s estimates that Continue Reading
OPEC February Production Data
The March OPEC Monthly Oil Market Report is out with the February production data. All data is through February 2o18 and is in thousand barrels per day, C OPEC crude Continue Reading
OPEC Sees Oil Supply Surge From Rivals, Countering Its Cuts
OPEC raises its forecast for oil supply from non-member countries in 2018 as higher prices encourage US shale drillers to pump more. LONDON, March 14 (Reuters) – OPEC on Wednesday Continue Reading
Nigeria: OPEC Admits United States Shale May Crash Oil Price
Abuja — The Organisation of Petroleum Exporting Countries (OPEC) has admitted for the first time that the growing crude oil output from the United States (U.S.) may threaten the price Continue Reading
Is OPEC moving the goalposts for its oil market scoreline?
Saudi Arabia’s proposals of new metrics to determine when the oil market is balanced signals a shift in OPEC’s targets for a pact on supply cuts that has almost achieved Continue Reading
OPEC Price Fight Weighs on Oil
Oil prices fell Monday, weighed down by concerns about a rapid rise in U.S. crude output as cracks emerged in OPEC’s united front on output cuts. Light, sweet crude for Continue Reading
OPEC Deal In Jeopardy As Iran And Saudi Arabia Square Off
Iran and Saudi Arabia are at odds over what to do next with the OPEC agreement, a conflict that could sow the seeds of the agreement’s demise over the course Continue Reading