All publications by tag «OPEC»
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2017, June, 26, 23:50:00
OIL PRICE: ABOVE $46 ANEW
Global benchmark Brent crude futures were trading up 45 cents, or 1.0 percent, at $45.99 per barrel at 0623 GMT.
U.S. West Texas Intermediate (WTI) crude futures were up 43 cents, or 1.0 percent, at $43.44 per barrel.
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2017, June, 26, 23:45:00
OIL CAN BE BELOW $40
“Prices can go below $40 a barrel given the market is being dictated by sentiment and not fundamentals. There is nothing to stop it right now.”
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2017, June, 8, 17:40:00
OPEC OIL PRODUCTION UP: 32.12 MBD
OPEC’s crude oil production increased by 270,000 bpd in May over April, to stand at 32.12mn bpd – the highest level since January this year
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2017, June, 5, 15:10:00
BAD NEWS FOR OPEC
As oil prices sag despite OPEC’s renewed efforts to shore up world crude markets, Wall Street banks have more bad news for the producer group: the outlook for next year isn’t great either.
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2017, June, 1, 19:20:00
MARGINAL OIL: NOT ENOUGH
"When these factors are taken together I can only conclude that the supplies coming from marginal barrels including shale production will not be sufficient to meet the future need for incremental capacity the mid-term," Falih said. "The market balance is already pointing in that direction," he added.
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2017, May, 26, 14:15:00
OPEC & NON-OPEC AGREEMENT
OPEC Member Countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan, taking into account the decision reached by OPEC at the 172nd Meeting of the Conference, recognized the need for continuing cooperation among oil exporting countries in order to achieve a lasting stability in the oil market.
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2017, May, 26, 14:05:00
OIL PRODUCTION & PRICES
Ministers from the Organization of Petroleum Exporting Countries and its allies meet in Vienna to decide whether to prolong their agreement. Major producers including Saudi Arabia, Russia and Iraq favor an extension for nine months and, while other options will be discussed, consensus is building around an agreement that runs through next March.
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2017, May, 24, 19:35:00
RUSSIAN OIL REDUCTION
Russia itself is now slightly overcomplying with its commitment to cut 300,000 b/d of oil production from October levels, having achieved a 310,000 b/d cut since the beginning of the month.
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2017, May, 24, 19:30:00
OPEC PREFERENCES FOR INDIA
As a major buyer of OPEC crude, India is hoping to leverage its ties with the oil producer bloc to gain "preferential treatment," the country's petroleum minister Dharmendra Pradhan told.
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2017, May, 22, 16:35:00
OPEC: THE LOWEST REVENUES
Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015, mainly because of the fall in average annual crude oil prices and, to a lesser extent, because of decreases in OPEC net oil exports.