IEA: Market Shows Waning Confidence In Oil Rebalancing
The rebalancing of the oil market is taking too long, the International Energy Agency (IEA) said in its Oil Market Report on Thursday. Since the record net long position that Continue Reading
Most oil players losing confidence in the market, IEA says
The dip in oil prices may be in part because of a loss in investor confidence and it’s starting to hit U.S. shale oil profits, the International Energy Agency said. Continue Reading
Capping Libya, Nigeria Output Won’t Help Erase The Glut
The steady recovery of oil production in Libya and Nigeria in recent months has prompted OPEC to consider limiting the output of the two African producers that are currently exempt Continue Reading
OPEC sees lower demand for its oil in 2018, points to surplus
OPEC said on Wednesday its oil production jumped in June and forecast world demand for its crude will decline next year as rivals pump more, pointing to a market surplus Continue Reading
OPEC oil supply is lost in a fog of data: Kemp
The Organization of the Petroleum Exporting Countries coordinates the policies of its members by giving each of them a production allocation rather than limiting how much they can export. OPEC Continue Reading
OPEC Output Rose in June Despite Planned Cuts
OPEC produced more crude oil in June despite efforts to curb output, the cartel said Wednesday, flagging that growing production elsewhere could complicate its ability to control the global oil Continue Reading
OPEC Still Overproducing: Scapegoats U.S. Shale
In its just released latest market report for the month of July, OPEC admitted it has a problem: more than six months after the Vienna deal that was supposed to Continue Reading
OPEC forecasts 2018 call on its crude oil at 32.2 mil b/d, down 60,000 b/d from 2017
OPEC’s analysis arm on Tuesday offered a bearish 2018 outlook for the producer bloc, projecting that global demand for its crude would fall by 60,000 b/d from this year to Continue Reading
IEA says OPEC compliance with oil cuts at lowest in six months
OPEC’s compliance with production cuts fell in June to its lowest levels in six months as several members pumped much more oil than allowed by their supply deal, thus delaying Continue Reading
These Numbers Show the Huge Challenges Now Facing OPEC Members
Goldman, CFR research shows deterioration in break-even prices OPEC fiscal break-even now higher than listed energy companies Mirror, mirror, on the wall, who’s the lowest-cost oil producer of them all? Continue Reading