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Oil Prices Leap Higher After Draw In Crude Inventories

The Energy Information Administration offered jittery oil markets respite today by reporting a draw of 4.7 million barrels in U.S. commercial oil inventories. The report comes just one day after the..

Is This A Sign That The OPEC Deal Is Doomed?

Late on Monday the oil world was shocked to learn that Ecuador planned on exceeding its OPEC production quota, publicly breaking from the supply cuts agreed to in November 2016 and extended in May..

Videos for "Opec Production"

News video: BNP Strategist Says Market Not Buying OPEC Optimism

BNP Strategist Says Market Not Buying OPEC Optimism 02:09

Jul.12 -- Steven DeSanctis, equity strategist at Jefferies, and Stewart Warther, U.S. equity and derivatives strategist at BNP Paribas, discuss energy market reaction to OPEC production cuts. They..
Source: Bloomberg Technology -

News video: Why UBS' Tay Sees a Recovery in Oil Prices

Why UBS' Tay Sees a Recovery in Oil Prices 02:51

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 -

News video: FGE Founder Says OPEC Compliance More Than 100%

FGE Founder Says OPEC Compliance More Than 100% 02:18

Jun.21 -- FGE Founder and Chairman Fereidun Fesharaki weighs in on OPEC production cuts and talks about oil inventories. He speaks on "Bloomberg Daybreak: Asia."
Source: Bloomberg Global Business -

News video: Ayers' Barratt Sees U.S. Oil Inventories Building

Ayers' Barratt Sees U.S. Oil Inventories Building 02:58

Jun.13 -- Ayers Alliance Securities CIO Jonathan Barratt discusses his outlook for oil and talks about OPEC production cut compliance. He speaks on "Bloomberg Markets: Middle East."
Source: Bloomberg Global Business -

News video: Wake Up Wall Street: Investors Await Former FBI Director James Comey's Testimony

Wake Up Wall Street: Investors Await Former FBI Director James Comey's Testimony 01:04

This is what you need to know before the bell: Investors await Former FBI Director James Comey's testimony. Trump fired Comey last month who had been leading the FBI's Russia probe Britain begins the..
Source: The Street -


Russian Oil Output Falls While OPEC Boosts Exports

All data below is based on the latest OPEC Monthly Oil Market Report. All data is through June 2017 and is in thousand barrels per day. (Click to enlarge)  The above chart does not include the..

This is why US shale oil has surged and is weighing on prices

this is why us shale oil has surged and is weighing on prices
A surge in the US oil shale industry has been one of the major contributors to the fall in oil prices this year. In July alone, 2.4m barrels per day is expected to come from the US Permian basin..
City A.M.

Nigeria Agrees To Production Cap When Oil Output Reaches 1.8 Million Bpd

Nigeria is ready to support OPEC’s cuts and limit its crude oil output when it reaches a stable 1.8 million bpd, Nigerian Oil Minister Emmanuel Kachikwu said on Wednesday. Nigeria and Libya—exempt..

Kazakhstan Not Backing Out Of OPEC Production Cut Deal

Kazakhstan is standing by its commitment to stick to the OPEC/non-OPEC agreement for production cuts, Kazakhstan’s Energy Minister Kanat Bozumbayev said on Wednesday, reiterating the official Kazakh..

Exclusive: Saudis to cut August oil exports to lowest level this year - source

DUBAI (Reuters) - Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying..

Oil prices jump as Goldman Sachs calls on Opec to 'shock and awe'

oil prices jump as goldman sachs calls on opec to 'shock and awe'
Crude oil prices lifted today despite coming under pressure as a number of banks slashed their price forecasts. Global benchmark Brent crude dropped more than one per cent before recovering to..
City A.M.

OPEC’s “Whatever It Takes” Is An Empty Promise

High demand for air conditioning and fuel for road trips make summer the best time for the Organization of Petroleum Exporting Countries (OPEC) to cut production or exports to end or lessen the supply..

The Deciding Factor For Oil Prices Next Week

September Crude Oil Weekly Recap September U.S. West Texas Intermediate crude oil futures are currently in a position to finish lower for the week as investors react to a rise in U.S. production and..

Oil Prices Tank As OPEC Exports Surge

Six months after the implementation of the OPEC production cut deal to reduce output by 1.2 million barrels per day, and we should be well on our way towards rebalancing - yet prices have recently..

Russia Now Ready To Consider More Oil Output Cuts If Needed

Just a day after Russia’s Energy Minister Alexander Novak said that the OPEC/non-OPEC production cut pact was working and that there was no need to make immediate additional moves, an energy minister..

Russian Energy Minister: No Additional Output Cuts Are Needed

While the oil market is increasingly questioning if OPEC/non-OPEC’s production cuts have any effect, Russia’s Energy Minister Alexander Novak weighed in on Thursday, saying that the production cut..

‘’U.S. Rig Count Must Drop 150 For Oil Markets To Balance’’

Analysts and investors have been growing increasingly concerned that the OPEC-led production cuts would not be enough to bring the oil market back to balance, and now one investment bank, Morgan..

Asian Buyers Expected To Pay More For Saudi Crude This Summer

Asian crude buyers expect Saudi Arabia to raise its August official selling price (OSP) for the Arab Heavy crude that it sells to Asia to the highest in more than 3 years. A tighter market for heavy..

Brent crude edges down after rising above $49 a barrel

brent crude edges down after rising above $49 a barrel
Crude oil booked a small loss today following a seven-day rally as rising production from members of the Organisation of the Petroleum Exporting Countries (Opec) weighs on prices. Brent crude,..
City A.M.

Have Oil Prices Stagnated?

Two events this week give us some insights on how to trade the oil markets and oil stocks for the next few weeks. First, there’s been a tremendous financial move in the oil futures market. Most..

The Offshore Boom To Break The OPEC Deal

While all eyes are riveted on how much U.S. shale output is undermining OPEC’s production cuts and any oil price gains, other non-OPEC producers are also increasing crude production, and most..

Libya’s Oil Production Nears 4 Year High

It looks like Libya is right on track to reach its goal to raise crude output to 1 million bpd by the end of July, in what would be a boon for its crippled oil production and a headache for fellow OPEC..

UAE: OPEC Is Not Discussing Deeper Cuts

Just a month has passed since OPEC rolled over the production cuts, but the still high inventories and the latest drop in oil prices have renewed comments, rumors, and possibly hope, that the cartel..

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