Everyone is scrambling for a new plan now --- now that oil is in its third mini-bust since the major bust cycle that began in 2014. (Click to enlarge)Since the lows in early 2106, oil has made three.. OilPrice.com
The number of active oil and gas rigs in the United States rose again this week by 8—marking 23 weeks of gains and continuing to press upon battered markets who are growing increasingly dissatisfied.. OilPrice.com
Jun.21 -- Kelvin Tay, regional chief investment officer for southern Asia-Pacific at UBS Wealth Management CIO Office, discusses the oversupply of oil and the outlook for further OPEC production cuts... Source: Bloomberg Technology -
NEW YORK (Reuters) - Oil futures climbed almost 1 percent on Friday on lift from a falling dollar but remained down for a fifth week in a row and close to a 10-month low as OPEC-led production cuts.. Reuters
OPEC’s production cut deal is unlikely to survive beyond its current deadline in March 2018, with the agreement seen falling apart towards the middle of next year, in which case a huge amount of.. OilPrice.com
Libya is producing 885,000 barrels of crude oil daily after last week it reached an agreement with German Wintershall that will see the latter restart production at fields with a combined output of.. OilPrice.com
Crude oil prices hit a five-week low Wednesday as OPEC production rose and U.S. inventories showed smaller than expected draws. OPEC has been trying to bolster oil prices with a production cut deal,.. OilPrice.com
All data below is based on the latest OPEC Monthly Oil Market Report. All data is through May 2017 and is in thousand barrels per day. (Click to enlarge)OPEC crude only production was up 336,000.. OilPrice.com
The International Energy Agency had a nasty surprise for OPEC and its partners in the oil output cut agreement today. According to the authority, non-OPEC production in 2018 will increase by 1.5.. OilPrice.com
Growing oil supply is set to outpace demand in 2018, unravelling the Organisation of the Petroleum Exporting Countries' (Opec) efforts to cut supply in order to support prices, according to a.. City A.M.
OPEC’s crude oil production increased by 270,000 bpd in May over April, to stand at 32.12 million bpd--the highest level since January this year--as exempt Libya and Nigeria saw their respective.. OilPrice.com
The 9-month extension to the OPEC deal has had a surprisingly negative impact on oil prices, which headed downward once again at the start of the week due to the ending of Qatar’s diplomatic ties.. OilPrice.com
Cost cuts and efficiency—the two key ingredients of the U.S. shale’s recipe for surviving the worst of the downturn—have led to drillers now employing a growing number of rigs capable of reducing.. OilPrice.com
September West Texas Intermediate Crude Oil futures struggled on the upside from the start and are likely to finish lower for the week. The selling started on Tuesday after the long U.S. holiday.. OilPrice.com
Iraq exported the most crude oil in May over the last six months, shipping data from Bloomberg has revealed. That’s despite the OPEC production cut agreed to in November 2016 and extended last week... OilPrice.com
Russia’s Novak suggests Russia has more room for deeper cuts Crude oil prices fell more than 5 percent Thursday after OPEC extended a production cut deal which had originally help to buoy oil prices.. OilPrice.com
The oil exports of Iraq’s semi-autonomous region of Kurdistan are not subject to the extension of OPEC’s production cuts, Iraq’s Oil Minister Jabbar al-Luaibi told Kurdish media network Rudaw.. OilPrice.com
Iran’s current crude oil output level will not be reduced under the extension of the OPEC production cuts, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Thursday. “Iran’s oil output.. OilPrice.com
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