OPEC delegates say Saudi comments show higher oil price desire
OPEC delegates say comments from top exporter Saudi Arabia, which two years ago led the group to drop its historic role of supporting oil prices, are a change in tone Continue Reading
OMR Highlights (13 July 2016)
Global oil supplies rose by 0.6 mb/d in June to 96 mb/d after outages curbed OPEC and non-OPEC supplies in May. World production was 750 kb/d below last year as higher OPEC output Continue Reading
IEA Sees Record Middle East Oil Supply While U.S. Output Slumps
Middle East’s market share is the highest since the late 1970s Record inventories remain ‘threat to stability’ of prices Oil production from the Middle East has climbed to a record Continue Reading
Huge stocks overhang threatens oil price recovery: IEA
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. Continue Reading
OPEC sees tighter 2017 oil market, Brexit drag on economy
OPEC on Tuesday gave an upbeat outlook for the oil market in 2017, saying global demand for its crude would be higher than its current production and pointing to a Continue Reading
OPEC Production Reaches New All-Time High
The new OPEC Monthly Oil Market Report is out with crude only production numbers for June 2016. OPEC added Gabon to its member countries this month. But I do not Continue Reading
Can OPEC Supply The Tighter Oil Market It Predicts?
OPEC expects oil demand to remain strong through 2017, but downgraded its assessment because of the Brexit result. In its latest monthly Oil Market Report for July, OPEC sees oil Continue Reading
Saudi Strategy Working: OPEC Captures Largest Market Share Since 1975
OPEC has captured its largest share of the oil market since 1975, which could be seen as a vindication of the cartel’s strategy over the past two years. But it Continue Reading
IEA warns of ever-growing reliance on Middle Eastern oil supplies
The world risks becoming ever more reliant on Middle Eastern oil as lower prices derail efforts by governments to curb demand, the west’s leading energy body has warned. The head Continue Reading
Paper: OPEC worked to derail U.S. shale
Members of the Organization of Petroleum Exporting Countries altered their behavior to limit the role of U.S. shale oil producers, a Norwegian paper found. “There is no consensus in the Continue Reading