Posts Tagged ‘OPEC’

Are oil market uncertainties, falling prices taking the sparkle out of London IP Week?

You know that London IP Week is underway when hundreds of attendees gather at the May Fair Hotel to attend the Platts London Oil Forum, which was Monday. Attendance was so high that the 500-plus participants filled three large conference rooms, linked by live video feed and connected by iPads, which got them sharing their views during a series of crucial updates and panel discussions.

Speculation about the price of a barrel of oil has made its way from the business sections to the front page, and as we fast approach $30/b, the hot topic for presenters and participants at LOF 2016 was: How low can it go?

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Ticket to ride: Energy outlooks and the few who benefit

If you’ve been involved in any conversations about energy in 2015, there’s very much a sense the industry is gritting its teeth and just trying to get through this period of sustained low prices. And if you’ve looked at any forecasts about prices, supply, demand and production into the near future, it’s clear why there’s a prevailing sense of grim determination.

The Platts Global Energy Outlook Forum was held today in New York, and while there was still a feeling of caution about what the future will bring, there were also glimmers of hope for growing energy consumption to support producers. Well, glimmers of hope for some countries, anyhow.

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Capex cuts: the road to rebalance or rebound? — Fuel for Thought

The supply response of US shale output to lower oil prices has garnered more than its fair share of news headlines over the last year.

Where the collapse of US drilling rates have been straightforward to track, the longer term consequences of more conventional, bigger-ticket spending cutbacks has been tougher to gauge. Outside shale, the much longer lead times and investment cycles of projects means the fallout of upstream cuts now — while no less real — is less tangible.

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Few surprises expected from OPEC despite cracks over policy — Fuel for Thought

Never say never.

With this in mind, it would probably be foolish to rule out some kind of deal between OPEC and non-OPEC producers to manage supply.

But, right now, there’s nothing to suggest that any such pact is even a remote possibility, and few OPEC watchers expect the oil producer group to do anything other than rubber-stamp current output policy at talks in Vienna next week.

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OPEC’s big favor to the world of oil

Platts Energy Economist Managing Editor Ross McCracken takes a look at OPEC’s spare crude production capacity. Much has been made recently of the US’ new spare capacity, but OPEC’s role has also shifted, as he explains.

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How the shale boom strengthens US diplomatic clout: Fuel for Thought

In a new Oilgram News column, Fuel for Thought, Herman Wang explains how the abundance of domestic crude oil production gives the US diplomatic leverage and considers how — or if — that could change if export restrictions were lifted.

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The Oil Big Five: Scandal, politics, and looking ahead

There are certain times of the year that seem to rush by and October is one of those, as evidenced by this installment of The Oil Big Five coming out a bit later than usual. In some ways, this is an indicator of how much there is to do and keep track of, including for the global oil industry.

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Has US shale rendered spare capacity irrelevant? At the Wellhead

In this week’s Oilgram News column, At the Wellhead, Herman Wang  looks at how the resilience of shale and the proliferation of US oil production has pushed the US into a new role as the world’s swing producer.

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Music to OPEC’s ears: IEA sees cartel’s oil strategy as having ‘intended effect’

The past year has, without a doubt, been a momentous one for oil markets. Prices began their precipitous plunge in mid-2014, only for OPEC’s shift in strategy in November last year to send them even lower.

At the time, OPEC argued that the market should be left to balance itself, and that it should be the higher-cost oil that should be removed from the market first — not the lower-cost OPEC oil.

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Much ado about … an OPEC editorial

An editorial in OPEC’s latest Bulletin caused much excitement and contributed to a price rally on oil markets on August 31. The oil producer club said it stood “ready to talk to all other producers” but emphasized that this had to be on “a level playing field.”

But there’s nothing new here. OPEC has regularly stated its willingness to talk to other producers and the editorial seems merely to reiterate this.

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