will increasingly be under additional pressure from these IOC investors to obviate OPEC agreements and allow new fields to move forward at optimum production rates. Meeting these pressures will be difficult for OPEC if market demand for its oil does not increase significantly as expected due to a ...
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OPEC+ struggles to enforce production cuts While OPEC+ can introduce production cuts, enforcing them is another issue. In a recent meeting the cartel met to discuss non-compliance from several countries, includingIraq, Nigeria, Angola and Kazakhstan. According to a statement released by the ca...
OPEC will hold its meeting online to avoid creating travel issues for its energy ministers. Bloomberg reported the delay is due to a rift between Saudi Arabia and some African nations over output quotas to arrest falling oil prices — which may yet linger if there is a lack of agreement and...
http://www.reuters.com/article/2015/06/05/us-opec-meeting-naimi-idUSKBN0OL08F20150605 Saudi Arabian Oil Minister Ali al-Naimi said he was “100 percent comfortable” with the oil market, in terms of supply and demand, the Saudi-owned al-Hayat newspaper reported on Friday.………..“I ...
OPEC – This is a fairly good summary of the news that I’ve been reading about the OPEC meeting today… Headlines this morning gives the impression that all are now on-board for extending the cuts to the end of 2018. Reading in more detail however shows that it is not at all yet a...
"There is a significant portion of this that is competitive on a global basis," says Exxon Mobil CEO Rex Tillerson at an annual investor meeting earlier this month. "North American tight oil supply is more resilient than some people think it is."...
Responding to the news that the OPEC+ meeting had been adjourned without a deal on Monday, John Kilduff, a founding partner at Again Capital, said: "The Opec solidarity dissolved today." "The pandemic held them together and now the post pandemic is breaking them apart. The UAE is sti...