Counting barrels is always tough to do, as Ross McCracken discusses in this month’s excerpt from Platts Energy Economist.
Posts Tagged ‘OPEC’
By Ross McCracken | July 29, 2014 12:01 AM Comments (1)
By Stuart Elliott | July 11, 2014 11:43 AM Comments (0)
The International Energy Agency on Friday gave its first taste of how oil markets might look in 2015, and on first reading it looks as though they should be pretty well supplied throughout the course of the year.
The agency’s confidence that non-OPEC supply can meet almost all of the projected growth in demand next year means that OPEC itself won’t need to produce, on average, any more than its current 30 million b/d ceiling. Read the rest of this entry »
By Elizabeth Bassett | July 8, 2014 03:49 PM Comments (2)
You’ve read about the big topics our Platts experts think are most interesting for July, and now we want to turn our attention to our readers.
In our monthly The Oil Big Five feature, we poll our global oil experts for what they consider the most pressing or interesting aspects of the oil industry at the moment. We follow each post by rounding up some of the comments, and below you can see (in no particular order) some of the reactions we had from our readers, both on the blog as well as on social media.
By Elizabeth Bassett | June 17, 2014 08:21 AM Comments (2)
The second installation of The Oil Big Five hit a snag when we realized that comments weren’t coming through on our blog platform, so this follow-up is a week later than we wanted.
But regardless of timing, we wanted to feature the comments from our readers, both here on the blog as well as on social media. We know what our oil experts and editors think are the most important trends worldwide, but what about you? Do you agree with what others have said?
By News Desk | June 12, 2014 06:25 AM Comments (0)
(This blog post is based on the reporting of the Platts OPEC team in Vienna: Margaret McQuaile, Stuart Elliott, Geoff King, James Leech and Jacinta Moran).
The latest meeting Wednesday of OPEC ministers in Vienna was uneventful — at least in terms of what the group decided to do, or not to do, about its current crude production policy.
A rollover of its 30 million b/d production ceiling had been widely expected following suggestions from ministers in the weeks running up to the meeting that the status quo would be maintained.
By News Desk | June 11, 2014 10:12 AM Comments (0)
The International Energy Agency says OPEC needs to produce more than 30 million b/d of oil in the second half of the year. In May, it wasn’t at that level. You can see Platts’ monthly survey of production here.
By Stuart Elliott | May 15, 2014 01:49 PM Comments (0)
The International Energy Agency believes OPEC will need to raise its production by nearly 1 million b/d in the third quarter to meet rising global demand and to make up for slowing supply growth from non-OPEC producers.
That would mean the group would be producing nearly 31 million b/d within a few months.
Can it be done?
By John Kingston | May 13, 2014 06:27 PM Comments (2)
By News Desk | May 12, 2014 03:13 PM Comments (0)
Though no one country posted big gains in output, OPEC managed to increase its production in April by a relatively healthy amount. You can see the full analysis here.
By Robert Perkins | April 11, 2014 08:02 PM Comments (0)
A real prospect that export flows out of Libya can start to ramp up in the coming weeks after the resolution of a nine-month-long standoff with rebels couldn’t come at a better time for OPEC it seems.
According to the International Energy Agency’s latest monthly report, OPEC’s 12 members will need to pump an average of 350,000 b/d more during the second half of 2014 to meet global oil demand after their output slumped to a five-month low in March.