OPEC


All posts for OPEC

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 2 years 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 2 years 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 2 years 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 2 years 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 2 years 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 years 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 2 years 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 - OilVoice


Posted 2 years 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 2 years 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 2 years 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 - OilVoice


Posted 2 years 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 2 years 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 - OilVoice


Posted 2 years 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 - OilVoice


Posted 2 years 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 years agoPress > Equatorial GuineaOPECOil +2