OPEC Says Oil Demand Will Grow Past 2040
OPEC’s forecast lends the cartel’s voice to a debate in the oil industry over how soon demand for crude oil will decelerate. Royal Dutch Shell PLC and Norway’s Statoil SA, Continue Reading
OPEC seeks consensus on duration of oil cut pact before meeting
OPEC is seeking to achieve consensus agreement before a meeting on Nov. 30 on how long to extend a global pact to curb oil production, OPEC’s secretary general said on Continue Reading
OPEC Now Says U.S. Shale Will Grow Even Faster Than They Previously Thought
Group raises forecast for shale oil output in annual report Shale producers show ‘resilience and ability to bounce back’ OPEC said shale oil production will grow considerably faster than expected Continue Reading
Nigeria supports OPEC cut extension under ‘the right terms’
Nigeria supports an extension of a deal between OPEC, Russia and other non-members to cut oil supply until the end of 2018 “as long as the right terms are on Continue Reading
Is $60 Oil Too Tempting For OPEC?
Last week, a Bloomberg energy journalist tweeted from Riyadh, wondering why there are no mass celebrations of the fact that Brent was coming closer to $60 a barrel. Now that Continue Reading
Russia’s Novak says oil output cut deal could be extended if needed: TASS
Russian Energy Minister Alexander Novak held talks with Saudi King Salman on Thursday after which he said that a global deal between OPEC and other countries to cut oil output Continue Reading
OPEC likely to keep oil supply curbs for whole of 2018: sources
DUBAI (Reuters) – OPEC is likely to stay the course by keeping its current curb on oil production in place for the whole of 2018 despite potential output disruptions next Continue Reading
OPEC vs. U.S. Shale: The Battle For Asian Market Share
Early in October, OPEC’s chief, Mohammed Barkindo, appeared to be unfazed by growing U.S. crude oil shipments to OPEC’s key market, Asia. The official said he expected OPEC exports bound Continue Reading
OPEC Output Drops By 80,000 BPD On Iraq Output Instability
A new Reuters survey found that OPEC’s output dropped in October due to production disruptions in Iraq as well as increased compliance to established quotas by the rest of the Continue Reading
OPEC oil output falls in October led by drop in Iraqi exports
OPEC oil output fell this month by 80,000 barrels per day (bpd), a Reuters survey found, as exports from northern Iraq dropped and other producers maintained adherence to a supply Continue Reading