Search Results for: OPEC
Oil Speculators Most Bullish in Two Months as OPEC Calls for $80
September 21st, 2015
U.S. crude output seen falling the most since 1989 next year Almost 15,000 short oil bets closed out before Fed decision Hedge funds slashed their bets on falling oil prices, leaving them the most bullish in two months ...
OPEC is winning the oil war
September 15th, 2015
Oil markets may not balance until late 2016, but supply is finally contracting in a big way. Early last week the EIA confirmed that U.S. oil production was down sharply since peaking in April at 9.6 million barrels per day (mb/d). ...
Why Vladimir Putin Won’t Be Helping OPEC to Cut Oil Production
September 11th, 2015
Past attempts at cooperation proved `dismal and disappointing’ Siberian winter makes it difficult to be swing oil producer Few things have more potential to spook the oil market than the prospect of Russia joining forces with OPEC. Speculation that such ...
OPEC oil output in Aug falls from record on Iraq disruption – survey
September 3rd, 2015
OPEC oil output fell in August from the highest monthly level in recent history, a Reuters survey found on Wednesday, as disruptions to flows on Iraq’s northern pipeline halted supply growth from the group’s second-largest producer. Largely stable output ...
Oil wars: OPEC is winning
August 13th, 2015
OPEC’s strategy to pump like crazy despite collapsing oil prices seems to be finally paying off: The U.S. oil industry is showing cracks. Oil supply from non-OPEC countries is set to slow dramatically next year and slip into its ...
OPEC leader Saudi Arabia is having to borrow money
August 7th, 2015
Saudi Arabia is not as rich as you thought. The oil kingdom is facing a big hole in its budget, caused by the slump in oil prices and a sharp rise in military spending. That’s forcing the government to ...
Iran warns Opec it plans to recapture market share
August 3rd, 2015
Iran’s oil minister warned fellow Opec members that it aims to recapture market share and plans to step up oil output by 1 million barrels per day “within months” of sanctions being lifted, Iran state news organisations reported yesterday. ...
Depressed Oil Prices Push OPEC Revenue Below $1 Trillion In 2014
June 19th, 2015
The 2014 crash in oil prices caused the combined oil earnings of OPEC’s 12 members to drop 11 percent from $1.112 trillion in 2013 to $993.3 billion in 2014. It is the first time the group’s revenue has fallen ...
OPEC 167th Meeting concludes
June 8th, 2015
The 167th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Friday, 5th June 2015 under the Chairmanship of its Alternate President, HE Dr. Mohammed Bin Saleh Al Sada, ...
What will Opec do about the oil supply?
June 3rd, 2015
With oil prices down some 40% in a year, the oil ministers of the Organization of the Petroleum Exporting Countries (Opec) are once again getting together in Vienna this week to decide whether to cut output or keep pumping ...
