OPEC released its Monthly Oil Market Report today, outlining the state of the oil trade and the effects of the group’s output cuts. The group’s production decreased by 79.1 MBOPD in August, bringing …
OPEC released its Monthly Oil Market Report today, outlining the state of the oil trade and the effects of the group’s output cuts. Total OPEC oil production increased in July, by 172.6 MBOPD, which does …
Oil prices dropped today as Libya resumed production from its largest oil-producing field, with WTI falling 2% to $48.62/bbl in intraday trading. Libya’s Sharara field, located in western Libya, resumed production on Monday, according …
OPEC may increase its efforts to moderate the global oil market, based on the results of its meeting in St. Petersburg today.
OPEC’s oil cuts were implemented with the hope that temporarily reduced output would …
OPEC’s grip on the oil market seems to be slipping away, as its newest Monthly Oil Market Report shows production rising, despite cuts.
In its MOMR, OPEC gives two sources of production, levels directly reported by …
The United Arab Emirates plans to list part of its national oil company on public markets in order to create new revenue streams and gain access to new …
According to the latest S&P Global Platts OPEC survey released July 6, 2017, OPEC’s crude oil output increased by approximately 500,000 BOPD within the last two months, pushing the organization’s total output to 32.49 MMBOPD.
OPEC’s June output was 220,000 …
OPEC’s share of U.S. oil imports has been declining, and has dropped sharply over the last few years. In 1990, OPEC supplied 62% of all crude imported into the U.S. …
OPEC cut compliance has hit its highest point in in this round of cuts, according to a story released by Reuters today.
Total cut compliance, including both OPEC and non-OPEC countries, reached 106% in May, Reuters …
International oil prices are contingent upon both the worldwide growth in oil production and the worldwide growth in oil inventories. Understanding the balance of these movements, and interpreting those movement is undertaken by the Energy Information Agency (EIA) and the …
Crude oil prices hit a five-week low Wednesday as OPEC production rose and U.S. inventories showed smaller than expected draws. OPEC …
Even as the Organization of Petroleum Exporting Countries looks to rebalance markets through coordinated production cuts within its ranks and with other non-members, production from the group is up.…
Saudi Arabia, the world’s top oil exporter, will reduce the number of barrels it sends to Asian markets in July by about …
Royal Dutch Shell (ticker: RDSA) lifted force majeure on exports of Nigeria’s Forcados oil grade, returning about 250 MBOPD to world markets, according to shipment data obtained by Bloomberg. Europe’s …
Several major powers in the Middle East cut diplomatic ties with Qatar today, including fellow OPEC members Saudi Arabia, the UAE and Libya, citing the country’s support of terrorism.
Saudi Arabia, Egypt, …
OPEC and Russia hope to institutionalize cooperation between the two beyond the current production cuts, according to Russian …
Crude oil prices fell more than 5% Thursday after OPEC extended a production cut deal which had originally help to buoy oil prices above $50 per barrel.
The extension will …
The Organization of Petroleum Exporting Countries announced Thursday that it will extend production cuts for nine more months, through the end of Q1, 2018.
Oil prices dropped more than 5% on Thursday …
OPEC appears ready to approve extending cuts beyond the current June expiration date, based on pronouncements by several groups.
The Joint Ministerial Monitoring Committee, a group composed of representatives from OPEC and non-OPEC nations, recommended …
OPEC has been restraining production since the beginning of the year, after a group of cartel …
In case you missed the past three years, on Thanksgiving Day 2014, OPEC announced it would not cut oil production in the name of gaining customers and growing market share for …
OPEC and other oil producers taking part in output cuts have reached a consensus to extend the limits until the end of the year, oil ministers for two of the group’s members said.
All members of the Organization …
As oil prices struggle to stay above $50 per barrel, OPEC appears to be ready to extend production cuts through the second half …
The Organization of Petroleum Exporting Countries will hold meetings with its non-OPEC counterparts to decide the future of production cuts on the same day as the group’s scheduled semi-annual …
An extension of the OPEC production cuts should normalize global inventories this year, according to research by KLR Group.
Announced on September 28, 2016, OPEC agreed to limit production to 32.5 MMBOEPD in …
U.S. refiners are picking up activity as the summer driving months approach, encouraging markets to increase the number of long bets on oil.
Utilization is expected to …
Crude futures jumped as much as 2% after the U.S. military attacked the Shayrat air base near Homs with Tomahawk missiles in response to Syria’s …
Crude oil prices continued to show improvements Wednesday even as the EIA reported builds in crude oil inventories. The agency reported an increase of 1.6 MMBO in stockpiles for …
Qatar will end a self-imposed moratorium on further developing the North Field as it hopes to remain competitive and capture more market share …
Investors’ preference for projects with fast returns could spell trouble for future supply, warn oil traders and service executives. Many of these short-cycle projects involve U.S. shale operations, but with demand continuing to …
