OPEC


All posts for OPEC

US shale regains strength amid OPEC cuts

Against the backdrop of OPEC's 1H 2017 production cuts, which the organization announced in November 2016, US liquids production has started to rebound. Rystad Energy estimates that total US oil and condensate production has increased from 8.9 to 9.3 million bbl/d between November 2016 and May 2017. ...

Julia Weiss


Posted 14 hours agoOpinion > Rystad EnergyShaleProduction +1

OPEC Production Cuts and The Long Road To Market Balance

Global oil inventories are falling because of OPEC and non-OPEC production cuts but the road to market balance will be long. Production cuts have removed approximately 1.8 million barrels per day (mmb/d) of liquids from the world market since November 2016 (Figure 1). Figure 1. OPEC-NOPEC Have ...

Art Berman - The Petroleum Truth Report


Posted 6 days agoOpinion > The Petroleum Truth ReportArt BermanOPEC

What football tells us about Nigeria’s supply concerns

So the latest news from the bigwigs at OPEC is that Nigeria's crude oil production has fallen from 2 million barrels per day to around 1.27 million. This sounds like bad news, anyone can see. And one would be foolish to suggest that a 37.5% decrease in crude production is a welcome shift for our oil ...

Derby Omokoh - Upstream Consulting Company Lagos


Posted 10 days agoOpinion > FootballOilOPEC +5

More Chinese crude oil imports coming from non-OPEC countries

Source: U.S. Energy Information Administration, based on data from China General Administration of Customs and Bloomberg L.P. Note: OPEC is the Organization of the Petroleum Exporting Countries. China's General Administration of Customs publishes crude oil imports by weight. These values were ...

OilVoice Press


Posted 11 days agoOpinion > Energy Information Administration EIAOPECChina

Supply Crunch Or Oil Glut: Investment Banks Can't Agree

In recent years, U.S. shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC's production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street's ...

Oilprice Staff


Posted 11 days agoOpinion > oilpriceOPEC

An OPEC Deal Extension Isn't As Simple As It Sounds

It's been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by OPEC to rebalance the market. The deal--initially aired as ‘an agreement to agree on a deal' in September and signed at the end of Nove ...

Oilprice Staff


Posted 1 month agoOpinion > oil priceOPEC

Lack of agreed methodology on OPEC compliance leads to confusion: Fuel for Thought

Based on the latest S&P Global Platts OPEC survey , the producer group's compliance with its pledged oil output cuts is 98.5%. It is also 111.5%. At the same time, it is 71.9%. Depending on how compliance is measured, the oil market is getting different impressions of how closely OPEC is stic ...

OilVoice Press


Posted 1 month agoOpinion > PlattsOPEC

Is A Second OPEC Cut On The Cards?

OPEC's coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. But resurging U.S. shale has been capping the upside, and Brent has not breached US$58 pe ...

Oilprice Staff


Posted 1 month agoOpinion > oil priceOPEC

OPEC giving up the gains

So far, OPEC compliance with its production cut goals appears to have been good, with cold weather and natural declines adding to reductions from non-OPEC producers, resulting in Russia being ahead of schedule. Some OPEC members have exceeded their compliance targets, notably Saudi Arabia and Kuwa ...

OilVoice Press


Posted 1 month agoOpinion > PlattsOPEC

S&P Global Platts: OPEC Output Down to 32.16 Million b/d in January

Saudi production below 10 million b/d, first time since February 2015 LONDON, Feb. 7, 2017 /PRNewswire/ -- The 10 Organization of the Petroleum Exporting Countries (OPEC) members obligated to reduce oil output under the landmark agreement signed late last year achieved 91% of their required cut ...

OilVoice Press


Posted 2 months agoPress > S&P Global PlattsOPEC

Equatorial Guinea Makes Bid to Join OPEC

Equatorial Guinea wants to join OPEC. On Friday, Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, met with officials in Vienna to submit his country's interest to become the 14th member of the cartel. “For decades, Equatorial Guinea has achieved a sterling track r ...

Aydanur Akkurt - Africa Oil & Power


Posted 2 months agoPress > Equatorial GuineaOPECOil +2

Libya: an OPEC wildcard?

Libya has the potential to upset the OPEC apple cart, and early expressions of high levels of compliance with the cuts agreed by OPEC and associated non-OPEC producers should be taken with a pinch of salt. According to an interview with S&P Global Platts' Eklavya Gupte January 24, chairman of Li ...

OilVoice Press


Posted 3 months agoOpinion > PlattsOPECLibya

Despite OPEC Production Cut, Another Year Of Low Oil Prices Is Likely

An OPEC production cut offers oil producers hope for higher prices in 2017. But there is a dark cloud hanging over that expectation. Global storage inventories must be substantially reduced before higher oil prices can be sustained. Some of U.S. tight oil has nowhere to go but into storage because ...

Art Berman - The Petroleum Truth Report


Posted 3 months agoOpinion > Art BermanOPEC

The Fate of OPEC Deal: What's Coming Next

OPEC - NON OPEC Deal has certainly helped oil to enter bullish trend once again. But I have reasons to believe that oil is going to slip towards bearish market sooner than being anticipated. Crude oil prices rose above $56/bbl for the first time in 2016 after OPEC and Non-OPEC reached an agreement o ...

Fayaz Ahmed


Posted 4 months agoOpinion > oil priceOPECUSA

Exclusive: Cost of pump-at-will oil policy spurred Saudi OPEC U-turn

Sources say the kingdom may have stretched its current limits by extracting a record of around 10.7 million bpd this year, which could be one reason why Riyadh pushed so hard for a global deal to cut production.Riyadh, the world's top oil exporter, felt the burn of cheap oil this year when crude w ...

Adam Marmaras - OilVoice


Posted 4 months agoLink > OPECoil priceSaudi Arabia