Saudi Arabia Denies Aramco IPO Is Canceled
Saudi Arabia said Thursday it remained committed to publicly listing its national oil company at some point in the future, dismissing reports that the centerpiece of the country’s …
From Reuters
Two of Iran’s biggest OPEC rivals, Saudi Arabia and Iraq, are bagging its European oil market share by cranking up production of their lookalike crude grades before the restart of U.S. sanctions designed to halt exports from the …
OPEC has released its Monthly Oil Market Report, outlining the cartel’s assessment of the state of the international oil industry.
OPEC produced a total of 32,323 MBOPD in July, up moderately from last month. …
From Reuters
NEW YORK (Reuters) – Oil prices fell on Tuesday, closing out the largest monthly decline in two years on supply worries after OPEC output reached a 2018 high in July, overshadowing reports that the United States and …
OPEC has released its Monthly Oil Market Report, outlining the cartel’s assessment of the state of the international oil industry.
The group produced …
The escalation of the trade war between the US and China is about to bring significant changes in crude ton/mile demand as US crude freights could soon be moving away from China and heading towards India, …
From Reuters
Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world’s oil supply cushion “might be stretched to the limit” due to production losses.
Benchmark Brent crude oil LCOc1 …
From the Fuse
Last week, Bernstein Research said that oil prices could hit $150 per barrel, breaking the all-time record of $147 in 2008. Analysts at the investment bank cite chronic underinvestment as the main factor …
Despite the surprise moderate build in U.S. crude oil stockpiles, analysts are worried of an impending price spike to $150 or more.
Crude oil stocks rose by 1,245 MBBL last week to 417,881 MBBL from 416,636 MBBL. This …
Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 million barrels a day.
Their joint announcement came days after U.S. President Donald Trump …
From Bloomberg
Under U.S. pressure, kingdom boosts production by 330,000 b/d
Libyan, Venezuelan losses mean total OPEC output holds steady. Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses …
From Reuters
President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran.
Trump said in a tweet …
The No Oil Producing and Exporting Cartels Act (“NOPEC”) is quietly making its way through the …
From Bloomberg
The Republic of Congo expects to raise oil production by as much 65 percent this year as two new projects come on stream, Hydrocarbons Minister Jean-Marc Thystere-Tchicaya said.
Congo joined OPEC last week and plans to open up …
Column From Reuters Russell
LAUNCESTON, Australia, June 25 (Reuters) – If it were possible to boil the crude oil market down to just one determining factor for the coming months, it would be this: What will Saudi Arabia actually do?…
The anticipated 174th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) concluded in …
Energy Secretary Rick Perry will host Russia’s energy minister for a meeting in Washington next week, according to people familiar with the planning, putting the top energy officials from the world’s largest oil and gas …
OPEC’s meetings this week are mostly dominated by the heads of member countries’ national oil companies, but at least two top officers …
[EDITOR’S NOTE: this is the final installment of the OAG360 story in which Helen El Mallakh, director of the International Research Center for Energy and Economic Development (ICEED), discusses the changing political scene and the shifting geopolitical sands that are …
From Reuters
For OPEC, over-compliance with its supply-cutting deal is a nice problem to have.
Once known for rampant cheating on agreed oil output targets, the Organization of the Petroleum Exporting Countries has been over-delivering on a pact in place …
From the Houston Chronicle
Iran’s Minister of Petroleum Bijan Namdar Zangeneh spoke to journalists at a hotel in Vienna, Austria, Tuesday, saying Iran wants to leave OPEC production caps in place.
The Texas oil boom and the higher crude prices …
“The Middle East shapes energy politics, energy crises, and it has a huge impact on geopolitics” – Helen El Mallakh
Ahead of the upcoming 174th OPEC meeting in Vienna, Austria, (scheduled for Friday, June 22, and immediately followed by …
From Reuters
Russia and Saudi Arabia are pushing OPEC and its allies to raise oil output steeply from July to meet growing demand and cover supply outages in Venezuela and Libya despite opposition from several members of the producer group …
Russia and Saudi Arabia have a general consensus that the OPEC+ format should be “institutionalized” and extended until 2019 and beyond for oil market monitoring and joint action in case of need, Russia’s energy ministry said in a …
From Reuters
Oil prices fell sharply Friday, with benchmark Brent crude dropping more than $2 a barrel ahead of an OPEC meeting in Vienna next week as two of the world’s biggest producers, Saudi Arabia and Russia, indicated they were …
From Reuters
Only a few years ago, shale CEOs and the Organization of the Petroleum Exporting Countries were in open conflict.
Now, they realize they’re in the same boat and need to row in tandem to keep global crude supply …
From the New York Times
HOUSTON — It is unusual for the United States, Saudi Arabia and Russia to see eye-to-eye, much less try to achieve common energy policy goals, even indirectly.
But that is what seems to be happening, …
OPEC released this month’s Monthly Oil Market Report, outlining the cartel’s assessment of the state of the international oil industry.
The cartel’s production increased in May, with many countries reporting large changes in output. …
From Reuters
The oil industry will face the biggest squeeze on its spare production capacity in more than three decades if OPEC and its allies agree next week to hike crude output, leaving the world more at risk of a …
