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2015-11-03 19:15:00

OPEC SQUABBLES

OPEC SQUABBLES

Internal OPEC squabbles are on the rise as members argue about the need to support a fair oil price and boost revenues just as they feel more pain from low crude prices.

A draft report of OPEC's long-term strategy (LTS) carries annotations by Iran, Algeria and Iraq, and suggestions from Iran and Algeria for measures to support prices such as a price target or floor and a return to OPEC's quota system.

Oil prices have more than halved to below $50 a barrel since June 2014 in a drop that deepened after the Organization of the Petroleum Exporting Countries in 2014 changed strategy to protect market share, rather…

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Tags: OPEC, OIL, PRICES, QUOTA
Chronicle:
OPEC SQUABBLES
2021, April, 15, 13:09:00
MASTERING WIND POWER 23 – 30 June 2021
Mastering Wind Power LIVE ONLINE COURSE OVER 5 SESSIONS Commences: 23 June 2021 – 30 June 2021 (7 – 10 am)
OPEC SQUABBLES
2021, April, 15, 13:05:00
U.S. OIL INVENTORIES DOWN 5.9 MB TO 492.4 MB
U.S. commercial crude oil inventories decreased by 5.9 million barrels to 492.4 million barrels.
OPEC SQUABBLES
2021, April, 14, 12:19:58
OIL PRICE: ABOVE $64 STILL
Brent rose 85 cents, or 1.3%, to $64.52 a barrel. WTI added 82 cents, or 1.4%, to $61 a barrel.
OPEC SQUABBLES
2021, April, 14, 12:15:00
GLOBAL OIL DEMAND WILL UP BY 6 MBD
In 2021, world oil demand growth is expected to increase by about 6.0 mb/d y-o-y, representing an upward revision of about 0.1 mb/d from last month’s report.
OPEC SQUABBLES
2021, April, 14, 12:10:00
U.S. OIL PRODUCTION WILL UP
Higher prices are buoying drillers’ confidence. Benchmark Nymex oil gained nearly 35% in the past four months after OPEC and its alliance cut production to strike a balance between demand and supply. The fossil fuel is also getting a bump as Covid-19 vaccinations progress and Americans travel again, boosting gasoline consumption.
OPEC SQUABBLES
2021, April, 14, 12:05:00
EUROPE NEED €150 BLN PER YEAR
The financing for the EU economic plan, agreed at 750 billion euros in 2018 prices, but totalling around 800 billion euros at current prices,
OPEC SQUABBLES
2021, April, 14, 12:00:00
EUROPEAN WIND INVESTMENT $51 BLN
The investments financed 19.6 GW of capacity that will be constructed in the coming years. Around 13 GW of this will be in the EU.
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