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Posts related to ‘OPEC’

Crude Demand Growth to Fall in 2013 — OPEC

Posted: July 11, 2012 at 7:52 am

In its monthly Oil Market Report released today, OPEC projects that demand for crude would rise by an average of 900,000 barrels/day in 2012 and that growth would decline to ...
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Saudi Arabia Vs. The Rest Of OPEC

Posted: June 14, 2012 at 6:27 am

Oil remained near an eight-month low, ahead of a meeting of OPEC ministers. The market continues to gamble that Saudi Arabia, the most powerful member of the cartel, will prevail ...
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IEA: Crude Prices Fall 20% from 2012 Peak

Posted: June 13, 2012 at 7:26 am

The International Energy Agency (IEA) this morning released its monthly oil market report, and as usual, there is some variation from the report that came out yesterday from OPEC. The ...
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OPEC Crude Production Continues to Rise

Posted: June 12, 2012 at 8:18 am

OPEC’s Monthly Oil Market Report was released this morning and it showed that total crude oil production from OPEC member nations rose to 32.96 million barrels/day in April. That’s a ...
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Saudis To Battle OPEC On Oil Prices

Posted: June 12, 2012 at 6:07 am

There are reports that Saudi Arabia may battle with its fellow OPEC members over near term oil production. The Saudis have supported high exports recently, which has helped the price ...
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OPEC Crude Output at Three-year High

Posted: May 29, 2012 at 10:48 am

The Organization of Petroleum Exporting Countries (OPEC) produced an average of 31.8 million barrels/day of crude in May, the cartel’s highest level of production since September of 2008 and about ...
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OPEC Market Forecast Sees Global Crude Demand of 89 Million Barrels/day

Posted: May 10, 2012 at 7:43 am

In the May version of OPEC’s monthly Oil Market Report, the cartel keeps its previously forecast global demand total for 2012 at just under 89 million barrels/day. Demand is growing ...
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$100/barrel Crude Good for OPEC, Not So Good for Supermajors (XOM, CVX, COP, TOT, BP, BX)

Posted: May 3, 2012 at 8:01 am

At an energy conference in Paris today, the secretary general of OPEC, Abdalla Salem el-Badri, said that the cartel is “not happy” with crude oil prices in the $110-$130/barrel range ...
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OPEC March Crude Production Highest Since 2008

Posted: March 30, 2012 at 10:03 am

The 12 members of the Organization of Petroleum Exporting Countries (OPEC) produce an average of 31.26 million barrels/day of crude oil in March according to a survey of analyst, industry ...
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OPEC Production Already Tops New Ceiling

Posted: January 5, 2012 at 2:07 pm

At a meeting in mid-December, members of the Organization of Petroleum Exporting Countries (OPEC) agreed on a new production level of 30 million barrels/day. The 12-member cartel has already exceeded ...
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OPEC to Hold the Line

Posted: December 14, 2011 at 6:25 am

The Organization of the Petroleum Exporting Countries probably intends to hold production among its members at current levels. That is good news for oil importing nations and consumers and industries concerned about ...
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OPEC Going Green

Posted: December 5, 2011 at 9:05 am

At the triennial World Petroleum Congress in Qatar, a handful of representatives from Middle Eastern OPEC nations have indicated that their countries are beginning to take steps to reduce their ...
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OPEC Oil Outlook Forecasts Big Demand Increase

Posted: November 9, 2011 at 9:46 am

There is no shortage of prognostication on the world’s oil supply out to somewhere around 2035. The major public forecasts come from the US Energy Information Administration, the International Energy ...
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IEA Follows OPEC Downward on Oil Demand (CVX, VLO)

Posted: October 12, 2011 at 9:21 am

One day after OPEC released its monthly oil market report, the International Energy Agency published its monthly report. The two agree on most things, but differ on details. Most important, ...
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OPEC Sees Lower Oil Demand for 2011

Posted: October 11, 2011 at 9:18 am

Crude oil prices rose about 3% yesterday primarily on the news that the France and Germany would do something to shore up their banks. Equities also rose by about the ...
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