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A New Mega Cartel Is Emerging In Oil Markets
A New Mega Cartel Is Emerging In Oil Markets China and India—two of the world’s largest oil importers and the biggest demand growth centers globally—are close to setting up an oil buyers’ club to have a say in the pricing and sourcing of crude oil amid OPEC’s cuts and U.S. sanctions on Iran and Venezuela, […]
Saudi Oil Minister: We Won’t Ramp Up Oil Production Soon
Saudi Oil Minister: We Won’t Ramp Up Oil Production Soon Saudi Arabia plans to stay within the limits of its ceiling under the OPEC+ production cut deal in May and will certainly not rush to ramp up production, although it would respond to customer needs if they want more oil, Saudi Energy Minister Khalid al-Falih said on […]
Platts Survey: OPEC Oil Production Down To More Than 4-Year Low
Platts Survey: OPEC Oil Production Down To More Than 4-Year Low Over-delivering Saudi Arabia and blackouts in Venezuela helped push OPEC’s crude oil production down by 570,000 bpd from February to 30.23 million bpd in March—the lowest production from the cartel in more than four years, according to the monthly S&P Global Platts survey published on Friday. […]
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015 OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela continued to struggle amid U.S. sanctions and a major blackout, the monthly Reuters survey showed on Monday. The […]
The Easy Money In European Natural Gas Is Gone
The Easy Money In European Natural Gas Is Gone At the end of last winter’s heating season, it was an unusually cold spell that upended European natural gas markets, with storage levels falling below average and prices firming up as demand shot up. At the end of this winter’s heating season, it is the unusually […]
Kashmir Conflict Has Riyadh On Edge
Kashmir Conflict Has Riyadh On Edge Just days after Saudi Arabia’s Crown Prince Mohammed bin Salman finished his charm-offensive Asian trip to Pakistan, India, and China, the ever-simmering tensions between Pakistan and India flared up again over Kashmir—the territory the two countries have been disputing since 1947 when Britain partitioned its colonies and India and […]
Saudi Arabia: We’ll Pump The World’s Very Last Barrel Of Oil
Saudi Arabia: We’ll Pump The World’s Very Last Barrel Of Oil Saudi Arabia isn’t buying the peak oil demand narrative. OPEC’s largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the oil producer best equipped to continue meeting that demand, thanks to its very […]
Canada’s Natural Gas Crisis Is Being Ignored
Canada’s Natural Gas Crisis Is Being Ignored “Alberta and its natural gas producers face a daunting crisis,” Alberta’s Natural Gas Advisory Panel said in a report in December, highlighting the challenges that natural gas producers in Alberta face in market access and pricing for their commodity. Industry officials and analysts say that the situation with […]
Falling Oil Prices May Spark New Debt Crisis
Falling Oil Prices May Spark New Debt Crisis U.S. oil prices at below $50 and now even below $45 a barrel could cause concerns about the debt levels of some energy companies, Nasdaq energy analyst Tamar Essner told CNBC on Wednesday. “Credit markets have held up a lot better than the energy equity markets right […]
IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025
IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025 Total U.S. oil production around 2025 will almost equal the combined production of Russia and Saudi Arabia, Fatih Birol, the Executive Director of the International Energy Agency (IEA), told Turkish state-run Anadolu Agency on Friday. The huge growth in U.S. shale production will completely […]
Oil Price Slide Puts The Brakes On U.S. Shale Growth
Oil Price Slide Puts The Brakes On U.S. Shale Growth While U.S. President Donald Trump continues to call on OPEC to keep oil prices low, because “The World does not want to see, or need, higher oil prices!”, one corner of the world may need WTI prices higher than the current low $50s to keep […]
Iran: Oil To Fall To $40 If OPEC Fails To Reach Deal
Iran: Oil To Fall To $40 If OPEC Fails To Reach Deal A fractured OPEC is meeting later this week to discuss a deal to cut oil production—yet again—to rebalance the market and lift oil prices that have recently slipped to below most of the cartel members’ budget-balance points. OPEC needs a unanimous vote to […]
Oil Prices Set To Book Worst Month In A Decade
Oil Prices Set To Book Worst Month In A Decade Oil prices dropped early on Friday, on course to finish their worst month since 2008, as fears of oversupply and slowing demand growth dragged oil down into a bear market in November with prices off by some 30 percent from four-year highs in early October. […]
IEA Chief Urges Oil Producers Not To Cut Output
IEA Chief Urges Oil Producers Not To Cut Output While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have negative effects on the oil market. “Currently markets are very well supplied but we should not […]
Saudis Cut Oil Exports To U.S. To Boost Crude Prices
Saudis Cut Oil Exports To U.S. To Boost Crude Prices Saudi Arabia has been slashing oil exports to the United States over the past two months, in what looks like a move to force a reduction in the world’s most transparently reported inventories that could put the Saudis on a collision course with U.S. President […]
