All publications by tag «OPEC»
Russia can do little to shore up slumping global prices even if OPEC wants it to. Russian wells will freeze if they stop pumping oil, and the country cannot store the output it would otherwise export.
North Sea Brent crude oil spot prices averaged $87/bbl in October, a decrease of $10/bbl from September and the first month Brent crude oil prices have averaged below $90/bbl since November 2010.
Global oil supply inched up by 35 000 barrels per day (35 kb/d) in October to 94.2 million barrels per day (mb/d)
OPEC Diplomacy Picks Up With Iraq-to-Libya Chiefs
Saudi Arabia’s oil minister broke months of silence on Wednesday to speak publicly about the Gulf nation’s stance on the oil market and dismiss claims that it had triggered a “price war”.
EIA: OPEC’s actions bring huge uncertainty on crude oil price forecast
OPEC Says Output Fell Sharply Amid Saudi Arabia Reduction
Investment in US shale oilfields will fall by a tenth next year – and result in a decline in production – if the oil price continues to trade around $80 a barrel, the world’s energy watchdog has warned.
Oil tumbles to four-year low below $79, awaits OPEC
With less than three weeks to go before OPEC meets in Vienna and the selloff in oil showing few signs of letting up, speculation is mounting the group will take action to try to stem the decline.