U.S. Oil Export Surge Means OPEC’s Output Cuts May Be Doomed
ING sees U.S. eating into producer group’s Asian market share Dutch bank forecasts Brent oil at $57/bbl in second half 2018 Oil risks sliding back under $60 a barrel as Continue Reading
OPEC Exports To The U.S. Continue To Decline
In the latter half of last year, we highlighted how Saudi deliveries to Motiva’s Port Arthur refinery had been surpassed by Iraqi barrels for the first time on our records. Continue Reading
Russia Not Joining OPEC, But Need To Cooperate Is ‘Obvious’
Russia sees no reason to join OPEC, but the need to continue the OPEC/non-OPEC cooperation in some form after the production cuts end is obvious , Russia’s first deputy minister Continue Reading
OPEC FEB CRUDE OIL OUTPUT 32.39 MIL B/D, DOWN 70,000 B/D FROM JAN: PLATTS SURVEY
OPEC production well below ceiling of 32.73 million b/d Saudi output 9.98 mil b/d, Iraq 4.43 mil b/d, Iran 3.83 mil b/d Libya crosses 1 mil b/d threshold, Nigeria hits Continue Reading
U.S. shale and OPEC share steak in uneasy truce at Houston dinner
Around the room at Houston’s The Grove restaurant on Monday, at several tables, sat a group of shale executives, interspersed with energy ministers and officials representing OPEC members, where they Continue Reading
Opec says hedge funds lack ‘basic understanding’ of oil
Hedge funds are an important players in the oil market, but some do not comprehend how it works, a senior Opec official has said. Mohammad Barkindo, the cartel’s secretary-general, met Continue Reading
IEA Predicts Nightmare Scenario For OPEC
Over the next three years, the U.S. will cover 80 percent of the world’s demand growth, the IEA says in its newly-released Oil 2018 annual report. Canada, Brazil and Norway Continue Reading
OPEC Sec Gen: Lack of Investment ‘Sowing Seeds for Future Energy Crisis’
IEA executive director Fatih Birol and OPEC secretary general Mohammad Sanusi Barkindo discuss challenges facing the oil and gas industry during the CERAWeek by IHS Markit conference in Houston. There’s Continue Reading
Nigeria minister says majors in shale, OPEC should keep crude price stable
Oil producers that operate in U.S. shale fields and OPEC member nations should do more to help stabilize crude prices, Nigerian Oil Minister Emmanuel Ibe Kachikwu said on Monday. The Continue Reading
IEA: China to remain driving force to push up global oil demand
Chief of International Energy Agency (IEA) said Monday that China will continue to be a main driving force for the growth of global oil demand. Fatih Birol, executive director of Continue Reading