OPEC’s “Whatever It Takes” Is An Empty Promise
High demand for air conditioning and fuel for road trips make summer the best time for the Organization of Petroleum Exporting Countries (OPEC) to cut production or exports to end Continue Reading
IEA Says Spending in U.S. Shale Drives Global Oil Investment Recovery
Global investments in oil and gas fields are likely to rebound modestly this year thanks to a sharp uptick in spending by U.S. shale producers, the International Energy Agency said Continue Reading
At OPEC’s Critical Moment, No Sign of Saudi ‘Whatever It Takes’
Cuts can have biggest impact on oil inventories right now Saudi Arabia’s exports increased last month, tanker data show Now is the time to maximize the impact of OPEC’s oil Continue Reading
Market Movers, Jul 10-14: New compliance measures likely for OPEC, non-OPEC oil output cuts?
A Platts survey pointed to a 500,000 b/d rise in OPEC’s crude oil output in the last two months. Will there be fresh cues about new output cut compliance at Continue Reading
OPEC Considers Production Caps for Libya, Nigeria
OPEC is considering putting a limit on how much oil members Nigeria and Libya can pump, cartel delegates say, as surging production from those countries is complicating the cartel’s plans Continue Reading
Libya, Nigeria May Be Asked to Cap Oil Output, Kuwait Says
Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort Continue Reading
Oil pact monitors won’t discuss further cuts at July meet: report
A ministerial committee monitoring an OPEC-led pact on cutting oil production will not discuss the possibility of further cuts at its regular meeting on July 24, OPEC’s secretary-general said in Continue Reading
Russia committed to oil price stability effort
Russian President Vladimir Putin says his country is committed to a multilateral effort to stabilize the energy markets through coordinated production declines. File Photo by Yuri Kadobnov/Pool/EPA July 7 (UPI) Continue Reading
Russia Now Ready To Consider More Oil Output Cuts If Needed
Just a day after Russia’s Energy Minister Alexander Novak said that the OPEC/non-OPEC production cut pact was working and that there was no need to make immediate additional moves, an Continue Reading
More oil possible from Libya, Nigeria, a report finds
A report Thursday from oil pricing group Platts stated that more production is possible from OPEC members Libya and Nigeria, adding to supply-side concerns. A survey of production from members Continue Reading