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Most Big Banks Are Now Bullish On Oil

Most Big Banks Are Now Bullish On Oil

February 6, 2018 No Comments

This time last year, all the big banks that OPEC and Russia took by surprise a month earlier by agreeing to an oil production cut were wondering just how long the agreement would last. The overwhelming opinion was one of skepticism. The deal would break apart in a few months, analysts said, or producers would […]

OPEC Output Climbs In January

OPEC Output Climbs In January

February 1, 2018 No Comments

OPEC output in January rose, despite declining production in Venezuela in the same month, a new Reuters report says. Compliance to the 2016 OPEC deal remains strong, even as Nigeria and Saudi Arabia increase output. The bloc increased output by 100,000 barrels per day, compared to December. Last month’s output numbers were the lowest since […]

OPEC Cuts May End Earlier Than Planned

OPEC Cuts May End Earlier Than Planned

December 13, 2017 No Comments

To keep the air of mystery, or whatever remains of it after the November 30 Vienna Club meeting, Kuwait’s Oil Minister Issam al Marzouq yesterday said the cuts may end before the end of 2018. “We still have a full year left in the agreement, but there is a possibility that we exit the cuts […]

Iran-Iraq Oil Swap Deal To Run For a Year

Iran-Iraq Oil Swap Deal To Run For a Year

December 12, 2017 No Comments

Iraqi Oil Minister Jabar al-Luaibi said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year and subject to renewal. The agreement signed on Friday by the two OPEC countries provides for Iran […]

One Indicator OPEC Must Watch

One Indicator OPEC Must Watch

December 7, 2017 No Comments

“We will not let go of our current approach until we reach a balanced market,” Saudi oil minister Khalid al-Falih said Monday at a news conference in Riyadh. OPEC ended months of speculation last week when it decided to extend its production cuts through the end of 2018, easing concerns that the limits would be […]

Forget OPEC, Putin Is Calling The Shots In Global Oil

Forget OPEC, Putin Is Calling The Shots In Global Oil

November 30, 2017 No Comments

Do you remember who first said anything about extending the oil production cut deal until the end of next year? It wasn’t Saudi Arabia or any other Gulf producer. It wasn’t even Venezuela. It was Russia, and more specifically President Putin, who suggested such an extension during Saudi King Salman’s visit to Russia in October. […]

OPEC Concedes That U.S. Shale Won’t Die

OPEC Concedes That U.S. Shale Won’t Die

November 13, 2017 No Comments

OPEC just significantly overhauled its expectations for North American shale, projecting strong supply growth through the early 2020s. The revision came as part of OPEC’s World Oil Outlook (WOO), and it represents an acknowledgment from the cartel that it has failed to kill off U.S. shale by flooding the market. There was still some hope […]

Different Oil Prices in the World

Different Oil Prices in the World

November 13, 2017 No Comments

Oilprice have just finished an 18-month project to bring all of the different oil prices in the world out into the public domain and for free to bring more transparency to markets. This product has never been available to the public and was quite expensive access in the past. Source / More:oilprice.com/oil-price-charts Most people don’t […]

The 5 Countries That Could Push Oil Prices Up

The 5 Countries That Could Push Oil Prices Up

October 25, 2017 No Comments

Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. Geopolitical tension has been largely irrelevant since the collapse […]

OPEC’s World Oil Outlook launches 7th November, 2017

OPEC’s World Oil Outlook launches 7th November, 2017

October 2, 2017 No Comments

The 2017 OPEC World Oil Outlook (WOO) will be presented at a press conference to be held at the OPEC Secretariat on Tuesday, 7 November 2017 at 14:30 CET. OPEC’s Secretary General, HE Mohammad Sanusi Barkindo, and senior members of management will present the key messages from the publication, which provides an in-depth review and […]

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