All publications by tag «OPEC»
2016, February, 23, 19:10:00
SAUDI PRICE WAR
OPEC launched a price war against U.S. shale and other high-cost producers, including Canadian oil sands and Brazilian deep-water oilfields, in November 2014 by not reducing output despite a global oversupply. Since then, oil prices have plunged by more than half, hitting a 12-year low of about $26 on Feb. 11.
2016, January, 26, 19:10:00
OPEC & RUSSIA TALKS
"The practice of filling the market with cheap oil at any cost is wrong -- half a year or a year later it could be sold at twice as high," Leonid Fedun, vice-president of Lukoil, Russia's second largest oil producer, was quoted as saying.
2016, January, 19, 20:10:00
OPEC SEES MORE
Demand for OPEC's oil will rise to an average 31.65 million b/d in 2016, from 29.90 million b/d in 2015, the producer group said in its latest monthly report.
2015, December, 24, 19:45:00
OPEC: 2015: $55
Only a gentle recovery in oil prices is seen. OPEC's basket of crude oils is assumed in the report at $55 in 2015 and to rise by $5 a year to reach $80 by 2020.
2015, December, 24, 19:40:00
RUSSIAN OIL UP
The trend demonstrates Russia's resolve not to cut output despite calls from OPEC to independent producers to curb production to support falling prices.
2015, December, 23, 20:00:00
OPEC PREDICTS $95
Organization of the Petroleum Exporting Countries said it expects the price of its basket of crudes to rise to $70 a barrel in 2020 and $95 a barrel in 2040, compared with$30.74 a barrel on Monday.
2015, December, 23, 19:55:00
OPEC: OIL PRICE $80
OPEC assumes that prices will rise to average $80 a barrel in nominal terms in 2020, and $70.70 in real terms. Last year it had anticipated nominal prices of $110 and real levels of $95.40. That means the value of the group’s output in 2020 would be $218 billion less than estimated a year ago, when it first embarked on the policy to protect market share.
2015, December, 23, 19:50:00
OPEC: OIL DEMAND UP 97 MBD
Global energy demand is set to increase by almost 50% in the period to 2040, with the overall energy mix continuing to be led by fossil fuels at almost 78%
2015, December, 21, 20:00:00
OPEC: BELOW $100
OPEC said it now assumes the price of the reference basket of crude oil produced by its members would be $70 a barrel in 2020, rising to $95 a barrel by 2040.
2015, December, 21, 19:45:00
OPEC CAN'T CUT
"OPEC can't take a unilateral decision, for example, to cut production and others ... raise production. Either we all go to cut production to really defend prices or we have to wait and see,"