At the start of March we showed a fascinating chart from Rystad Energy, demonstrating how dramatic the impact of technological efficiency on collapsing US shale production costs has been: in Continue Reading
It’s been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by Continue Reading
OPEC oil producers increasingly favor extending beyond June a pact on reducing crude supply to balance the market, sources within the group said, although Russia and other non-members need to Continue Reading
The new January OPEC Monthly Oil Market Report is out with crude only production numbers for February 2017. All charts are in thousand barrels per day. All data below is Continue Reading
WTI traded to a 3.5 month low on Tuesday at $47.09 after OPEC members shook production cut deal confidence for a second straight week. Saudi Arabia contributed to bearish concerns Continue Reading
Eleven non-OPEC oil producers that joined a global deal to reduce output to boost prices delivered 64 percent of promised cuts in February, an industry source said on Friday, still Continue Reading
OPEC will have to extend its oil output curbs in order to sustain a recovery in prices, as a revival in crude production outside the group may scupper its efforts Continue Reading
Global oil inventories rose for the first time in six months in January, despite OPEC’s production cuts, but if the group maintains its output limits, the market may tilt into Continue Reading
Oil rebounded above $48 a barrel amid a reported decline in U.S. crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Continue Reading
There’s nothing shocking in the steady build of crude oil inventory levels and those waiting for the market to balance out should be patient, the IEA said. The Organization of Continue Reading
