OPEC


All posts for OPEC

Is There Still Hope For Higher Oil Prices?

Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry. WTI dipped be ...

Oilprice Staff


Posted 16 hours agoOpinion > oil priceOPEC

Overcapacity and the price of oil

Overcapacity and the price of oil Dr. Daniel Fine, New Mexico Center for Energy Policy 12:00 a.m. MT June 25, 2017 Daniel Fine, associate director of New Mexico Center for Energy Police at New Mexico Tech and a project leader of the Energy Police, State of New Mexico Department of Energy Minerals ...

Will Fine


Posted 1 day agoLink > OccidentalTexas Oil and GasTexas +21

The Panhandle Import Reduction Initiative (PIRI) Calls for New White House Policy: Unfair Trade Endangers U.S. Oil Industry Too

May 18, 2017 06:00 AM Mountain Daylight Time AMARILLO, Texas--(BUSINESS WIRE)--In a letter directed to the President of the United States and received by the White House, the founders of (PIRI), the Panhandle Import Reduction Initiative representing thousands of independent small producers of oil in ...

Will Fine


Posted 4 days agoPress > Unfair TradeTradeOil prices +24

Fate of world oil and natural gas by Dr. Daniel Fine

Mexico imports 80 percent of American natural gas exports. This, and Union Pacific rail crossing into Mexico with non-fuel trade, is the future of New Mexico economic development American crude oil production will break new records this summer, exceeding 9.5 million barrels per day and then moving ...

Will Fine


Posted 6 days agoPress > MexicoOPECnatural gas +14

Nigerian output to surge after dodging OPEC cuts

In a boost to Nigerian oil production, Royal Dutch Shell on Tuesday lifted its force majeure on exports of Forcados crude oil shipments. The force majeure , which allows companies to miss contractual obligations as a result of events out of their control, was imposed on 21 February 2016 followin ...

Bayo Okoya - Delta Analytics Lagos


Posted 18 days agoOpinion > NigeriaShellForcados +3

OPEC Extends Cuts, Oil Prices Fall: What It Means

OPEC extended oil production cuts last week and oil prices plunged. OPEC's goal was to keep a floor under current prices but the market expected the cartel to move prices higher through inventory reduction. OPEC was satisfied with greater revenues from higher prices compared to a year ago, but the ...

Art Berman - The Petroleum Truth Report


Posted 27 days agoOpinion > Art BermanThe Petroleum Truth ReportOPEC

Don't hold your breath – looks like OPEC needs more time!

Well then – it looks as though OPEC, Russia and other major oil producers have agreed this week that they are going to hold their collective brush power for another nine months. The cynics among you will spot that these coordinated production cuts are aimed at repairing the massive supply glut that ...

Linus Booker - Chavenage Mining Consultants


Posted 1 month agoOpinion > OPECOilRussia +2

Relief in Vienna as Nigeria takes a step back from the brink

OPEC has agreed to extend cuts in oil production by nine months to March 2018, following their meeting on Thursday in Vienna. Exempting Nigeria from the cuts may have avoided political meltdown in West Africa. Nigeria and Libya were once against exempt from making any such cuts, as they recover fro ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 month agoOpinion > OPECNigeriaoil price

As the U.S. Sends More Oil to World, OPEC Sends Less to U.S.

OPEC is finally making the move that could help complete a mission that it's failed so far: shipping less oil to the U.S., according to Sanford C. Bernstein.Exports from the Organization of Petroleum Exporting Countries to America have declined by close to 1 million barrels a day since a peak at t ...

Ronnie Steinocher - Baron Energy, Inc.


Posted 1 month agoLink > OPECUSACrude

Nigeria and Libya could be forced to share OPEC output cuts as Saudi placates Iraq

A Saudi bid to shore up Iraqi support for a nine-month extension of an OPEC output deal could see Nigeria and Libya forced to share the burden of cuts. The two countries are currently exempt from self-imposed cuts agreed by the oil cartel as they restore capacity following domestic conflicts. Follo ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 month agoOpinion > OPECSaudi ArabiaIraq +3

Today's Stunted Oil Prices Could Cause Oil Price Shock In 2020

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated marke ...

Oilprice Staff


Posted 1 month agoOpinion > oilpriceOPECSaudi Arabia

U.S. Shale Is Immune To An Oil Price Crash In 2017

Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect ...

Oilprice Staff


Posted 1 month agoOpinion > oil priceShale GasCrash +1

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 1 month 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 2 months agoOpinion > The Petroleum Truth ReportArt BermanOPEC