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 ...
"Investors are focusing on U.S. inflation data to determine the timing of rate cuts," said Satoru Yoshida, a commodity analyst with Rakuten Securities, adding that the market is also closely watching the upcoming meeting by the Organization of the Petroleum Exporting Countries and allies, known ...
Operators tend to prioritise the best prospects, irrespective of what they think the oil prices will do, therefore every time a well is drilled, whether successful or not, the average chance of success in the pool of prospects declines, and that only changes if some attractive new leases becom...
"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."...
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 ...
equipment and services. In a dash to get to oil quickly, drillers didn't always take the time to use the best technology to analyze each well.When oil collapsed from $100 to below $50, once-profitable projects turned into money losers. OPEC added to the pressure by keeping production hig...
Oil rises slightly ahead of OPEC+ meeting Brent crude futuresgained 18 cents, or 0.42%, to settle at $42.90 per barrel, after moving lower earlier in the session.West Texas Intermediate crude futuressettled 19 cents, or 0.47%, higher at $40.29 per barrel....
In the approach to OPEC's next meeting on March 15, its members hold the view the supply cuts in train will be enough to ensure the 85 million barrels a day global oil market remains in balance through the second quarter, when demand normally slackens. ...