OPEC output took a significant decline in March, according to the latest Platts survey. It also marked a reversal of recent trends, wherein Saudi Arabia would normally make up for shortfalls out of other OPEC countries. But this time, Iraq output fell, as did that of Libya, but Saudi output declined as well. You can read Platts’ analysis here.
Posts Tagged ‘Iraq’
By News Desk | April 10, 2014 02:10 PM Comments (0)
By Richard Swann | March 14, 2014 02:20 PM Comments (0)
The oil market is no stranger to conflicting price signals, and the current period of relatively calm prices is a case in point.
The ongoing standoff between Russia and the West has so far caused only a relatively small, and short-lived rise in crude prices, despite the huge importance of oil trade between Russia and Europe, in particular.
If you want to know why the reaction was not bigger, you might want to take a look at the latest monthly report from the International Energy Agency, which has some very interesting data in it.
By News Desk | March 7, 2014 01:52 PM Comments (0)
The recent increase in the price of oil certainly isn’t happening because of any shortfall coming out of OPEC, at least not in February. Our monthly report on the production numbers, and our analysis, can be found here.
By Tamsin Carlisle | February 11, 2014 12:01 AM Comments (1)
Call me an Iraq skeptic, but when I learned last week of US plans to deploy mobile power generation technology to help Iraq eliminate large-scale natural gas flaring, my applause was distinctly one-handed.
My initial thought: “Just how is that going to work in a country with a barely functional electricity transmission grid?” Read the rest of this entry »
By Jamie McDuell | January 30, 2014 06:55 AM Comments (2)
In January, Iraq found itself once more beset by a wave of insurgency, as Sunni extremists took hold of large areas of Ramadi and all of Fallujah, the two main cities in Anbar province. Given its strategic importance to global oil supply, our Design and Production team have put together this map detailing the complex web of Iraq’s oil and gas infrastructure.
By Tamsin Carlisle | December 31, 2013 12:01 AM Comments (0)
While much of the world has been praying for peace and goodwill, the Middle East has witnessed more mayhem and murder.
During Christmas week, the south of the region witnessed further sabotage attacks on Yemen’s Marib oil pipeline. Also in Yemen, there was a deadly army shelling of a funeral tent that killed 10.
In Iraq, al-Qaida-linked militants claimed responsibility for an attack on a television station headquarters that killed five journalists, bringing to 12 the number of journalists killed in the country in the past three months; a roadside bomb struck the convoy of the country’s acting defense minister, wounding two guards, only days after five senior army officers and 10 other soldiers had been killed during an operation against militants in western Iraq’s restive Anbar province; in the Dora area of Baghdad, other attacks targets Christians celebrating Christmas; in the country’s major southern oil producing province of Basrah, the disgruntled governor threatened to shut in Iraq’s roughly 2.2 million b/d of crude exports via the Persian Gulf over a revenue-sharing dispute with Baghdad.
By Margaret McQuaile | December 5, 2013 03:09 PM Comments (0)
OPEC has often been criticized in the past for failing to cut crude output until the tide of oversupply is washing up at its shores. On Wednesday, the cartel ignored all the latest tidings of doom and gloom and rolled over for at least another six months the 30 million b/d output ceiling that has been in place since January last year. What else could it have done?
Undoubtedly, there is a long list of possible developments that could put heavy downward pressure on oil prices.
By Tamsin Carlisle | October 14, 2013 12:01 AM Comments (3)
By News Desk | September 23, 2013 12:01 AM Comments (0)
By News Desk | July 29, 2013 12:01 AM Comments (0)