The Most Important Part Of The OPEC Deal
The OPEC meeting in Vienna last month was, despite all the hype, always going to be a dull affair. The extension of the oil supply cuts had been all but Continue Reading
OPEC Wakes Up to the Threat of U.S. Shale 2.0
Stronger U.S. output is blunting OPEC’s effort to clear glut Once expected in third quarter ’18, rebalancing now seen later OPEC predicted that global oil markets won’t rebalance until late Continue Reading
OPEC Oil Output Falls to Six-Month Low but U.S. Fills Gap
A worker makes adjustments in the Bashneft PAO oilfield in Russia. OPEC production fell to its lowest in six months but rival U.S. production was surging faster than expected, meaning Continue Reading
U.S. Shale Sends OPEC Deal Back To Square One
True to its perpetually optimistic form, OPEC, which last month for the first time conceded to the threat posed by rising U.S. shale production… sharply raised its demand forecast for Continue Reading
U.S. Shale Output Rises As OPEC Production Falls To 6-Month Low
OPEC’s crude oil production dropped to a six-month low in November, while U.S. and other non-OPEC supply has grown stronger than initially expected this year, which prompted the cartel to Continue Reading
OPEC November Oil Production
The OPEC data below was taken from the December OPEC Monthly Oil Maret Report . All data is through November 2017 unless otherwise noted. OPEC crude oil production declined by Continue Reading
OPEC sees balanced oil market by late 2018 as cuts erode glut
OPEC expects the world oil market to be balanced by late 2018 as its deal with other producers to cut output reduces excess oil in storage, even as the U.S. Continue Reading
Kuwait’s oil minister says premature to talk about exit strategy from supply cuts
Kuwait’s oil minister said on Thursday it was too early to talk about a strategy to exit the current OPEC and non-OPEC supply cutting pact. “It’s premature to talk about Continue Reading
Summary of Weekly Petroleum Data for the Week Ending December 8, 2017
U.S. crude oil refinery inputs averaged about 17.0 million barrels per day during the week ending December 8, 2017, 243,000 barrels per day less than the previous week’s average. Refineries Continue Reading
Cyberattacks: The Biggest Threat To OPEC
Oil and cybersecurity in one sentence certainly makes for a thrilling read, and there will be an increasing amount of information on the topic as the Internet of Things expands Continue Reading