Is A Second OPEC Cut On The Cards?
OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced Continue Reading
As Non-OPEC Compliance Hits 60%, Oil Prices Remain Stagnant
When is 60 percent compliance a good thing? When it’s not 40 percent… That is the latest status on the non-OPEC nations who agreed to November’s production cut, as discussed Continue Reading
US Crude Oil Production Boost On Collision Course With OPEC Cuts
Subdued production in 2017 may give way to crude production boost of 1 million barrels per day by 2018 as US exploration and production companies reveal plans to spend more Continue Reading
OPEC Deal Cancelled Out By Rising Shale Output
U.S. oil production continues to rise, threatening to offset much of the output reductions from OPEC, and yet again pushing out the time horizon for the oil market balancing. There Continue Reading
OPEC Struggling To Hold On To Asian Market Share
Two years ago, OPEC took steps to increase its market share. It continued with this same policy for two years by pumping oil in an oversupplied market. The result: oil Continue Reading
OPEC: We’re at 86 percent compliance to cuts
Parties to an agreement to limit crude oil production starting in January were 86 percent in line with commitments, a joint OPEC, non-OPEC group said. Members of the Organization of Continue Reading
Total CEO Says OPEC Needs to Prolong Cuts to Eliminate Surplus
Total SA CEO Calls U.S. Shale Oil Industry Dynamic OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global Continue Reading
OPEC chief sees higher compliance with oil cut, says confidence returning
OPEC and outside producers including Russia will boost compliance with agreed oil output curbs in a bid to clear a supply glut that has weighed on prices, the group’s secretary Continue Reading
OPEC Chief Sees No U.S. Threat as Shale Production Rises
OPEC’s most senior official said he would meet U.S. shale producers next month, as he sought to allay fears his cartel could be hurt by resurgent American output and the Continue Reading
Exclusive: OPEC could extend or deepen supply cut if oil glut persists – sources
OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. Continue Reading