OPEC


All posts for OPEC

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 21 hours 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 7 days 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 15 days 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 20 days 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 1 month 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 1 month 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 1 month 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 2 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 3 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 3 months agoLink > OPECoil priceSaudi Arabia

What could $65/b WTI mean for oil production in the Permian?

Clearly, the alleged deal between OPEC members and other cooperative nations has generated a fair amount of optimism among market participants. However, given so many unknowns and the near term mentality of the agreement, what the future may hold with respect to production and prices is, to say the ...

OilVoice Press


Posted 3 months agoOpinion > oil priceOPECPermian

A tough year for service companies, but OPEC cuts help the shale exposed

2016 has been a tougher year for most service companies than 2015, and revenues have continued to fall as much as 27% when compared to 2015 on average. Companies exposed to onshore North American activity have seen their revenues diminish even more. While 2015 was the year that service companies ...

Julia Weiss


Posted 3 months agoOpinion > Rystad EnergyOPEC

There is a monster waiting for OPEC - and it's not shale

So, OPEC has finally shown that they mean business and decided that they would reduce oil supply in order to prop up prices. I don't want to belabor the futility of this gesture as I believe that no reduction any OPEC member would willingly abide by could change the fundamental oversupply situation ...

Rudolf Huber - Methanist


Posted 3 months agoOpinion > OPECshale oil

Oil hits highest since mid-2015 as OPEC and rivals agree historic deal

LONDON Oil rose by as much as 6.5 percent on Monday to an 18-month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices.Brent crude futures were up $2.38 at $56.72 per barrel by 1002 GMT, having hit ...

Adam Marmaras - OilVoice


Posted 3 months agoLink > OPECoil price

Oil surges after output cuts, strong dollar weighs

HONG KONG Oil prices jumped to their highest levels in a year and a half on Monday after OPEC and non-OPEC producers agreed to cut oil output to ease a global glut, while the U.S. dollar extended gains before a Federal Reserve meeting this week, at which a rate hike is widely expected. "We have s ...

Adam Marmaras - OilVoice


Posted 3 months agoLink > oil priceOPECBrent Crude