Meetings between Russia and the secretary general of OPEC will resume after Aug. 1 after Mohammed Barkindo, the new head of the global oil cartel, officially takes his post, a Continue Reading
OPEC’s oil output has risen in June to its highest in recent history, a Reuters survey found on Thursday, as Nigeria’s oil industry partially recovers from militant attacks and Iran Continue Reading
OPEC said its oil revenue plunged by $438 billion to a 10-year low last year, as an increase in export volumes failed to compensate for the collapse in prices. The Continue Reading
OPEC’s full-year 2016 oil export revenues will probably fall 15 percent, down for the third straight year and possibly the lowest in more than a decade before rising in 2017, Continue Reading
The Syncrude Canada Ltd. refinery, Alberta. The IEA said unplanned shut-ins in Canada will help… Global oil markets are moving close to balance in the second half of this year Continue Reading
The oil market is now in balance thanks to unplanned outages and robust demand, particularly from emerging economies, but this equilibrium will tilt into surplus again early next year, the Continue Reading
According to the June IEA report, the global oil supply overall was down 0.8 mb/d for last month, due to outages in both OPEC and non-OPEC nations. Output was at Continue Reading
First-half glut is 800,000 b/d, 40% less than last estimate The global oil market will be almost balanced next year as demand continues to rise faster than production, while the Continue Reading
The IEA said unplanned shut-ins in Canada will help… Global oil markets are moving close to balance in the second half of this year on a significantly stronger than expected Continue Reading
Crude oil prices rallied to a 2016 high above $51/bbl in June, stoked by continuing outages in Nigeria and Canada as well as a steady decline in US oil production. May Continue Reading
