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.
Posts Tagged ‘OPEC’
By News Desk | February 10, 2014 02:38 PM Comments (0)
By News Desk | January 10, 2014 03:17 PM Comments (0)
By Robert Perkins | December 11, 2013 02:08 PM Comments (0)
Signs that the US is experiencing at least a temporary surge in oil demand were reinforced Wednesday after the International Energy Agency said the US has seen its biggest spurt in demand growth for almost a decade.
In its latest monthly oil market report, the IEA said US oil demand likely averaged nearly 19.1 million b/d in September, up 900,000 b/d year-on-year and the fastest pace of growth experienced in nearly 10 years.
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 News Desk | November 12, 2013 04:16 PM Comments (0)
By Tamsin Carlisle | November 7, 2013 12:01 AM Comments (3)
The steady increase in US oil output of recent years, especially as a result of shale oil exploitation, has not gone unnoticed by OPEC. But is it sustainable?
That was a question posed rhetorically by OPEC Secretary General Abdulla ElBadri in late October on the sidelines of a Gulf Intelligence energy forum in Muscat, Oman. Expanding on the issue, he said it remained to be seen whether US and Canadian crude production could be maintained at current levels, let alone increased, implying that it was too early for OPEC to start worrying seriously about any potential impact to the market call on the organization’s crude.
By Robert Perkins | October 11, 2013 02:34 PM Comments (0)
So exactly when will the US shale revolution allow the world’s biggest oil consumer to topple Saudi Arabia as the biggest global oil producer?
The International Energy Agency reignited the perennial supply topic Friday with its latest monthly oil market report. According the report, the US will, at least, replace Russia as the world’s number two oil producer before mid-2014.
By News Desk | October 10, 2013 09:47 AM Comments (0)
By News Desk | September 10, 2013 04:45 PM Comments (0)