The OPEC/Russia deal for crude oil production cuts could extend beyond 2018, the United Arab Emirates’ energy minister, Suhail al-Mazrouei has suggested. Speaking to CNBC , Al-Mazrouei said “I am Continue Reading
OPEC’s oil production and supply cuts—now in their second year—have claimed a victim. It’s an industry that’s vital for the crude oil exports of oil-producing countries: supertanker shipping. The supertankers, Continue Reading
OPEC doesn’t want central banks around the world the start responding to inflationary pressure from oil prices above $70 a barrel, nor do they want U.S. shale investments to rise, Continue Reading
Last week, we discussed changing trends in Iraqi crude flows into Asia . Total deliveries of OPEC crude to China rose last year by 300,000 bpd, as cartel members looked Continue Reading
OPEC is monitoring unrest in Iran as well as Venezuela’s economic crisis, but the group will only boost output if there are significant and sustained production disruptions from those countries, Continue Reading
Though Venezuelan oil production is lower than it’s been in more than a decade, its fellow OPEC members picked up the slack, a market survey found. A survey of production Continue Reading
What sector will account for the largest source of oil demand growth over the next two decades? Most people might assume transportation, with hundreds of millions of people in the Continue Reading
OPEC deepened compliance with an oil supply-cutting deal in December due to a further decline in Venezuelan output and extra cuts by Gulf exporters, a Reuters survey found, showing strong Continue Reading
The continuous rise in U.S. shale production last year offset part of the OPEC–Russia production cuts and capped oil price gains. Supported by the global inventory drawdown and geopolitical woes, Continue Reading
OPEC’s crude oil production remained largely unchanged from November in December, but that was mostly thanks to a 50,000-bpd decline in Venezuela’s production, as well as further cuts in Saudi Continue Reading
