Iran Continues To Ignore The OPEC Deal
All data below is in thousand barrels per day and is through February 2017. (Click to enlarge) OPEC crude oil production dropped to 31,958,000 bpd in January. That was a Continue Reading
Kuwait Becomes First OPEC Nation to Call for Longer Oil Cuts
Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that Continue Reading
OPEC’s Best Signal of Success No Longer Looks So Promising
When OPEC announced production cuts last year, the most reliable indicator of oil-market supply started signaling a shortage ahead. Now it’s pointing the other way. In the weeks after OPEC’s Continue Reading
New Oil Price War Looms As The OPEC Deal Falls Short
Last November, OPEC orchestrated an impressive feat: corralling all (or nearly all) of its members to sign on to relatively aggressive production cut deal, and then actually convincing everyone to Continue Reading
How Likely Is An OPEC Deal Extension?
Damned if they do and damned if they don’t. This is OPEC’s precarious position after the recent fall in oil to below $50 per barrel. Oil prices will tank if Continue Reading
The OPEC Deal Is Facing Its Biggest Test
OPEC’s strategy to balance the oil market and bolster prices is facing its biggest test. The producer group is aiming to revamp the market by eroding a crude inventory surplus Continue Reading
CERAWeek: OPEC done bearing ‘burden of free riders’
Maintaining a stable world oil market is a global responsibility and not one that should fall squarely on the shoulders of the Organization of Petroleum Exporting Countries, two of the Continue Reading
Saudis tell U.S. oil – OPEC won’t extend cuts to offset shale: sources
Senior Saudi energy officials told top independent U.S. oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising production Continue Reading
Oil Companies Take to Thrifty Bets
The world’s biggest oil companies are getting thrifty. Oil prices have made a modest comeback from the lows hit a little over a year ago, but energy companies such as Continue Reading
OPEC cut 40 percent more in February than pledged in oil deal: Kuwait
Kuwait Oil Minister Essam Al-Marzouq said on Wednesday that OPEC’s compliance with an oil output cut reached last year stood at 140 percent in February, while non-OPEC members compliance was Continue Reading