In February 2016, Saudi Arabian Oil Minister Ali Al-Naimi announced a plan for a potential crude production cut. In December 2016, for the first time in nearly eight years, the Organization of the Petroleum Exporting Countries (OPEC) reached an agreement …
OPEC producers are set to meet on June 25 and 26 in Vienna, Austria
In February 2016, Saudi Arabian Oil Minister Ali Al-Naimi announced a plan for a potential crude… https://oilandenergyonline.com/articles/all/status-opec-agreement-ahead-june-meeting/
During the last three months of 2018, crude oil lost over 40% of its value. West Texas Intermediate crude futures traded on NYMEX tumbled from their 2018 peak of $76.41/bbl on October 3, to $42.53/bbl on Christmas Eve, while Brent crude dropped from $86.2…
During the last three months of 2018, crude oil lost over 40% of its value. West Texas Intermediate crude futures traded on NYMEX tumbled from their 2018 peak of $76.41/bbl on… https://oilandenergyonline.com/articles/all/return-volatility/
On July 14, 2015, the five permanent members of the United Nations Security Council (China, France, Russia, the United Kingdom and the United States) plus Germany signed the Joint Comprehensive Plan of Action (JCPOA) with Iran, known commonly as the Iran …
On July 14, 2015, the five permanent members of the United Nations Security Council (China, France, Russia, the United Kingdom and the United States) plus Germany signed the Joint… https://oilandenergyonline.com/articles/all/sanctioned/
Recently, global crude and refined products markets have been tightening. In September, “IEA and OPEC issued reports suggesting that global commercial oil stocks have been diminishing, while oil demand growth is strong and expected to stay that way” (OilP…
Recently, global crude and refined products markets have been tightening. In September, “IEA and OPEC issued reports suggesting that global commercial oil stocks have been… https://oilandenergyonline.com/articles/all/tightening-global-oil-supply/
It’s certain that global oil supplies are right now extremely excessive. World inventories are substantially above five-year averages, U.S. oil drilling rig counts have increased relentlessly, U.S. projects in the Gulf of Mexico are coming onstream, Libya…
It’s certain that global oil supplies are right now extremely excessive. World inventories are substantially above five-year averages, U.S. oil drilling rig counts have increased… https://oilandenergyonline.com/articles/all/curtailing-excess-oil-output/
Lately, more analysts are questioning whether OPEC’s current strategy is headed to success or failure. OPEC success is considered to be supply/demand rebalancing, elimination of excess global stockpiles and WTI at $60 by year-end. The keys to success are …
Lately, more analysts are questioning whether OPEC’s current strategy is headed to success or failure. OPEC success is considered to be supply/demand rebalancing, elimination of… https://oilandenergyonline.com/articles/all/will-opecs-strategy-succeed-or-fail/
The CERAWeek global oil industry conference in Houston last month “exposed all the contradictions at the heart of OPEC’s attempt to rebalance the oil market without rekindling the shale boom or conceding too much market share to rivals” (Reuters). It was …
The CERAWeek global oil industry conference in Houston last month “exposed all the contradictions at the heart of OPEC’s attempt to rebalance the oil market without rekindling the… https://oilandenergyonline.com/articles/all/opecs-strategy-developing-cracks/
Last September in Algiers,OPEC reached a tentative agreement to cut oil production among its members to between 32.5 and 33.0 million barrels per day (mb/d).
Last September in Algiers, the Organization of the Petroleum Exporting Countries (OPEC) reached a tentative agreement to cut oil production among its members to between 32.5 and… https://oilandenergyonline.com/articles/all/will-opec-producers-hold-line/
Crude oil prices in a $50 to $60 range will trigger increased capital expenditures and stepped-up production activity. Recently, Reuters cited a report that fleshes out this range. A $50-per-barrel price is insufficient for most major conventional oil pro…
Crude oil prices in a $50 to $60 range will trigger increased capital expenditures and stepped-up production activity. Recently, Reuters cited a report that fleshes out this… https://oilandenergyonline.com/articles/all/shale-oil-makes-rebound/
In late 2014, Saudi Arabia, and therefore OPEC, opted to maintain and even increase crude production levels in order to defend market share, even though oil prices would collapse. They dismissed the alternative, which was to decrease output and give up ma…
In late 2014, Saudi Arabia, and therefore OPEC, opted to maintain and even increase crude production levels in order to defend market share, even though oil prices would collapse.… https://oilandenergyonline.com/articles/all/saudi-arabia-damages-opecs-credibility/
Many oil market observers are wondering if the current price slide of almost two years has reached a bottom or is close to doing so? Of course only hindsight can answer that question, but the first signs of a recovery are emerging. For instance, motor fue…
Many oil market observers are wondering if the current price slide of almost two years has reached a bottom or is close to doing so? Of course only hindsight can answer that… https://oilandenergyonline.com/articles/all/signs-emerge-oil-recovery/
It’s well known that in response to the U.S. shale oil boom, OPEC (more specifically, Saudi Arabia) opted to eschew production cuts that would support prices. They chose instead to maintain output, preserve market share and allow prices to fall, for the p…
It’s well known that in response to the U.S. shale oil boom, OPEC (more specifically, Saudi Arabia) opted to eschew production cuts that would support prices. They chose instead… https://oilandenergyonline.com/articles/all/eliminating-crude-oil-overproduction/