Home » Posts tagged 'oil production cuts'
Tag Archives: oil production cuts
OPEC+ Discussing 1 Million Bpd Output Cut
OPEC+ Discussing 1 Million Bpd Output Cut Oil prices were trading up on Friday afternoon as shorts got a little nervous heading into the OPEC+ weekend, with new rumors circulating about the group’s discussions about another 1 million bpd in production cuts. The OPEC+ group is scheduled for three separate meetings beginning this weekend and concluding […]
Shale Under Pressure As Oil Falls Below $50
Shale Under Pressure As Oil Falls Below $50 The OPEC+ cuts still are not doing very much to boost oil prices, dashing hopes for many U.S. shale producers. With companies in the process of formulating their budgets for 2019, the prospect of $50 oil sticking around raises questions about the heady production figures expected from […]
OPEC Cuts Deep to Save Cartel
OPEC Cuts Deep to Save Cartel With oil prices in free fall and the dawning realization that Great Reflation trade of 2017 is over, OPEC needed to do something drastic to remind everyone how important they are. Moreover, with Qatar quitting the cartel last week it was then doubly necessary for OPEC to make the […]
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 […]
Alberta Intervenes To Halt Canada’s Oil Crisis
Alberta Intervenes To Halt Canada’s Oil Crisis Oil prices rose on Monday, buoyed by coordinated production cuts – cuts that did not come from Vienna (although that too could occur later this week). Instead, the mandatory reductions were handed down by the provincial government of Alberta. “Perhaps OPEC should therefore consider inviting Canada to its […]
How Much Oil Production Will The Saudis Cut?
How Much Oil Production Will The Saudis Cut? Donald Trump continues to take credit for lowering oil prices. Donald J. Trump ✔@realDonaldTrump So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)! Trump’s […]
Canadian Oil Producers Divided On Output Cuts
Canadian Oil Producers Divided On Output Cuts Crude oil producers in Alberta appear to be split on a proposed cut in production amid record-low prices, Canadian media report. One of the large Canadian oil producers, Cenovus Energy, is calling upon the government of Alberta to mandate temporary production cuts at all drillers in a bid […]
Oil Rallies On Report OPEC+ Will Do “Whatever It Takes”, May Cut By 1.4MM Barrels
Oil Rallies On Report OPEC+ Will Do “Whatever It Takes”, May Cut By 1.4MM Barrels One day after Saudi Arabia revealed that it had not complied with its production quota in October for the first time since OPEC’s November 2016 meeting in Vienna, Reuters sent oil prices into the green with a report that OPEC […]
OPEC Scrambles To Justify Output Cuts
OPEC Scrambles To Justify Output Cuts Oil inventories are approaching the five-year average level in OECD countries, the all-important threshold for “re-balancing” the oil market. A year and a half on from OPEC’s original deal to limit output, the surplus oil stashed in storage tanks around the world are nearly back to average levels. However, […]
OPEC Looks To Dial Back Production Cuts
OPEC Looks To Dial Back Production Cuts Last week’s surprise drawdown in crude inventories may be the last for a while, as analysts are expecting a reversal in stocks this week. (Click to enlarge) (Click to enlarge) (Click to enlarge) – China became the second largest LNG importer in 2017, surpassing South Korea. – China’s […]
