OPEC Members Pursue Own Agenda As Glut Persists
Amid reports of inventory increases, further surges in future non-OPEC supply and prices lying stagnant in the $40s, it’s becoming clear that the OPEC deal to extend production cuts in Continue Reading
Excess oil inventories to last until 2018 – IEA
Oil demand should outpace supply in the second half of this year but excess inventories will persist well into 2018, dealing a blow to global crude producers enacting output cuts Continue Reading
OPEC’s song and dance fails to score a hit with the oil market
Help In a meeting that unfolded -– at least to S&P Global Platts OPEC specialist Herman Wang ‘s eyes — just like the Eurovision pop song contest, OPEC and its Continue Reading
Can OPEC Keep Its Nerve?
The recent OPEC agreement to extend production cuts for a further nine months has had a mixed response from industry commentators. For some, it’s an example of OPEC’s new steadfastness Continue Reading
Russia’s Novak says no need to review oil output cut deal
Russian Energy Minister Alexander Novak attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 2, 2017. Russian Energy Minister Alexander Novak said on Sunday there was Continue Reading
After oil drop, some OPEC delegates question if supply cut deal enough
The OPEC logo is seen outside their headquarters in Vienna, Austria May 24, 2017. Two weeks after an OPEC-led deal to extend oil output cuts until March, some OPEC delegates Continue Reading
Oil comeback for cut-exempt producers threatens to swamp OPEC
FILE PHOTO: Pipelines are seen at the industrial zone at the oil port of Brega, Libya, January 12, 2017. OPEC’s battle against an oil glut is under threat as unsold Continue Reading
Saudi’s Falih says no immediate need to adjust oil pact
There is no evidence the global oil producers’ pact needs to be adjusted now, Saudi Arabian Energy Minister Khalid al-Falih said on Saturday, describing the recent weakness in crude prices Continue Reading
For Goldman Sachs, OPEC’s Exit Strategy Is a High-Wire Act
The biggest question in oil markets is what OPEC should do once its deal to cut output ends next spring. Goldman Sachs Group Inc. has an answer, but it requires Continue Reading
Op-Ed: Global Oil Market Trends, US Production Stump OPEC Strategy
Crude oil demand will have to put supply in its place before prices will manage a sustainable rally. Despite six months of lauded compliance with its own production quotas, OPEC’s Continue Reading