UAE: OPEC Is Not Discussing Deeper Cuts
Just a month has passed since OPEC rolled over the production cuts, but the still high inventories and the latest drop in oil prices have renewed comments, rumors, and possibly Continue Reading
Libya’s oil output nears 1 million bpd, highest in four years: source
Libyan oil production is fluctuating between 950,000 barrels per day (bpd) and “close to” 1 million bpd, rising from around 935,000 bpd earlier this week, a Libyan oil source with Continue Reading
Canada oil output threatens to derail Opec plan
As Opec glares at the surge in US shale production that is threatening to derail its attempt to balance the oil market, it may also want to cast an eye Continue Reading
Hedge funds abandon all hope in OPEC: Kemp
“All hope abandon, ye who enter here,” is the warning inscribed above the gate of Hell, according to the Italian poet Dante Aligheri (“The Divine Comedy”, Inferno, Canto III, 1308-1320). Continue Reading
OPEC Looks Totally Bewildered by the Oil Market
Julian Lee is an oil strategist for Bloomberg First Word. Previously he worked as a senior analyst at the Centre for Global Energy Studies. It may be too soon to Continue Reading
Traders test OPEC ‘whatever it takes’ resolve to defend oil price
When OPEC leader Saudi Arabia pledged in May to do “whatever it takes” to defend world oil prices, it didn’t expect the market to be testing its resolve just one Continue Reading
Oil market flashes warning about stock levels in 2018: Kemp
Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures Continue Reading
OPEC Has Few Escape Routes From Another Bear Market in Oil
Deeper cuts weren’t seriously discussed this week: delegates Resurgent Libyan, Nigerian production presents new challenge Oil’s back in a bear market and investors remain unmoved by last month’s agreement to Continue Reading
Kuwaiti official says OPEC-led production cuts not working
A multilateral effort to ease global oil supply-side strains on the market hasn’t worked as designed, a Kuwaiti official said Thursday. Photo by Oskari Porkka/Shutterstock June 22 (UPI) — The Continue Reading
Iran says OPEC considering deeper output cuts, delegates skeptical
Iran’s Oil Minister Bijan Zanganeh talks to journalists before the beginning of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, May 25, 2017. OPEC Continue Reading