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OPEC Articles
The International Energy Agency (IEA) sees both supply of and demand for crude oil rising both this year and into 2019. Given sanctions against Iranian exports and Venezuelan production declines,...
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The number of land-based rigs drilling for oil rose by one this week, according to the weekly count by Baker Hughes.
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On Thursday OPEC published its annual statistical review of the cartel's oil and gas market data for 2017.
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The U.S. crude oil inventory rose last week by an unexpectedly large 2.2 million barrels. Gasoline and distillate inventories also posted larger-than-forecast increases. Crude oil prices slipped...
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The price of a barrel of oil has fallen by $5 a barrel since last Thursday. U.S. consumers are paying an average of just under $3 a gallon for regular gas and might be about to catch a price break...
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The number of land-based rigs drilling for oil in the United States rose by 15 this week. High prices for crude oil continue to drive more production.
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In its monthly report on the global oil market, OPEC raised its estimate of global demand for 2018 to 98.85 million barrels a day.
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President Trump has responded to reports that OPEC and its partners may want to reduce crude oil production even further with a tweet that prices are artificially high and "will not be accepted."
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U.S. petroleum inventories fell by modest amounts last week but the declines pushed crude oil prices to a high of more than $68 a barrel, a price last seen in late 2014.
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In the week ended April 13, 2018, the number of land rigs drilling for oil in the United States totaled 815, according to the Baker Hughes North American Rotary Rig Count.
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The International Energy Agency expects that the OPEC production cuts will have balanced global oil markets by next month.
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In its monthly report on the global oil market, OPEC sees more growth in U.S. and non-OPEC oil production.
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OPEC production in February fell sharply below the cartel's agreed quota of 32.73 million barrels a day. Continuing problems in Venezuela account for all of the decline.
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CERAWeek, a major conference of oil industry leaders, opened Monday in Houston and the main event was not an official one. Representatives of OPEC and U.S. shale producers met for dinner to talk...
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OPEC increased its 2018 estimate of U.S. production growth by 1.3 million barrels a day in the cartel's monthly oil market report released Monday.
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