International Energy Agency Oil Market Report
Having expanded by 1.6 mb/d in 2016, global oil product demand growth is expected to ease back to 1.4 mb/d in 2017. Early indicators of 1Q17 demand support this, with slowdowns seen in Continue Reading
IEA Claims The OPEC Deal Is Working
OPEC’s relentless output increase before their November deal to curtail supply has led to the first global stocks increase in six months, the International Energy Agency (IEA) said on Wednesday, Continue Reading
Has OPEC Underestimated U.S. Shale Once Again?
The U.S. shale cowboys are back on their horses and leading a strong recovery in the oil patch that is not expected to falter even as WTI prices dropped last Continue Reading
Global oil stocks rise, but IEA says OPEC curbs may create H1 deficit
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
OPEC says oil stocks keep rising despite supply cut deal
OPEC said on Tuesday oil inventories had continued to rise despite the start of a global deal to cut supply and raised its forecast of production in 2017 from outside Continue Reading
Outside OPEC cuts, Libya and Nigeria still on slow oil recovery path
When OPEC reached a deal last year to cut oil output, the decision to exclude Nigeria and Libya from the restrictions was seen as a risk to the group’s efforts Continue Reading
Production gains seen in some OPEC members
Some members of OPEC are producing more oil and Saudi Arabia has breached a psychological threshold for February, based on the organization’s first report since enacting production limits for members Continue Reading
EIA And OPEC Send Oil Prices Tumbling
The double whammy of yesterday’s EIA drilling productivity report – showing rampantly rising shale production next month – combined with a bearish OPEC monthly oil market report, has sent oil Continue Reading
Can OPEC Resist The Temptation To Cheat?
OPEC’s monthly report for February was released Tuesday morning, and total output appears to have fallen from 32.097 million bpd in January to 31.958 million bpd. Members which agreed to Continue Reading
OPEC Cracks?
One of my go-to analysts on oil production is former Italian oilman Leonardo Maugeri, who now works at the Belfer Center at Harvard University. In my book, The End of Continue Reading