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Posts related to ‘OPEC’

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Crude Oil Futures Heading Lower on Rise in OPEC Output

Posted: May 13, 2013 at 8:40 am

The Organization of Petroleum Exporting Countries (OPEC) produced 30.46 million barrels of crude every day last month, well above its agreed quota of 30 million barrels a day. The message: ...
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Oil Tanker

OPEC Maintains Lower Demand Forecast; Oil Futures Dive

Posted: May 10, 2013 at 8:55 am

The Organization of Petroleum Exporting Countries (OPEC) released its May Oil Market Report this morning. The cartel did not materially change its forecast for global demand growth of 800,000 barrels ...
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Crude Oil, Gasoline Prices Set Up for Sharp Drop

Posted: April 29, 2013 at 11:30 am

Since early March, Brent crude oil prices have fallen more than 13%, and conventional unleaded gasoline has come down 16% since early February. This could be just the beginning of ...
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Oil pumpjack

OPEC Sticks with Its Lower Forecast

Posted: April 10, 2013 at 11:20 am

The Organization of Petroleum Exporting Countries (OPEC) released its April Oil Market Report this morning. The cartel did not change its forecast for global demand growth of 800,000 barrels a ...
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OPEC Lowers Forecast on Demand for Its Own Crude

Posted: March 12, 2013 at 10:05 am

The Organization of Petroleum Exporting Countries (OPEC) released its March Oil Market Report this morning. The cartel did not change its forecast for global demand growth of 800,000 barrels a ...
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OPEC Raises Annual Demand Forecast

Posted: February 12, 2013 at 10:25 am

The Organization of Petroleum Exporting Countries (OPEC) released its monthly Oil Market Report this morning and raised its forecast for demand growth in 2013 to 89.7 million barrels a day, ...
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Drilling rig

OPEC Sees “Major Uncertainty” in U.S. Economy

Posted: January 22, 2013 at 5:25 am

By. Daniel J. Graeber of Oilprice.com The Organization of Petroleum Exporting Countries in its report for January said the United States in 2013 may post the highest oil supply increase ...
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Oil price rise graphic

OPEC Rings Up $1 Trillion in Oil Sales

Posted: December 31, 2012 at 7:21 am

With the average price of Brent crude in 2012 pointed at a record high of $111.50 a barrel, it is probably no surprise that the Organization of Petroleum Exporting Countries, ...
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Oil barrel

Look Out Below: The Case for $50 a Barrel Oil

Posted: December 19, 2012 at 9:27 am

One of the best ways to assure that the American consumer has more money to spend is have a significant decline in the price of crude oil. After trading up to ...
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Oil pumpjack

EIA Forecasts Lower U.S. Crude Imports

Posted: December 11, 2012 at 2:16 pm

In its monthly Short-term Energy Outlook (STEO) published today, the U.S. Energy Information Administration (EIA) said it expects the net import share of U.S. oil consumption to drop to 40% ...
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Demand for OPEC Crude to Fall in 2013

Posted: November 9, 2012 at 10:08 am

In its Monthly Oil Market report released today, the Organization of Petroleum Exporting Countries (OPEC) forecast that demand for the cartel’s crude oil would fall from 30.1 million barrels a ...
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Oil Demand, Prices to Rise: OPEC

Posted: November 8, 2012 at 9:47 am

In its latest World Oil Outlook released today, the Organization of Petroleum Exporting Countries (OPEC) is forecasting that demand for energy will rise 54% by 2035. Fossil fuels, including oil, ...
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OPEC Can’t Agree on New Leader

Posted: October 24, 2012 at 11:16 am

The Organization of Petroleum Exporting Countries (OPEC) has been reviewing candidates to replace Libya’s Abdalla el-Badri as secretary general of the organization. A panel comprised of junior OPEC officials has ...
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OPEC Sees Lower Demand in 2013

Posted: September 11, 2012 at 7:40 am

The Organization of Petroleum Exporting Countries (OPEC) today released its monthly report for September. For the month of August, the demand growth forecast for crude oil remained at 900,000 barrels ...
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IEA Weighs in on Oil Market

Posted: July 12, 2012 at 7:34 am

The International Energy Agency (IEA) today released its monthly report for July. Yesterday we got OPEC’s take on the state of the oil market, and the day before that we ...
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