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Kuwait’s Haitham Al-Ghais Elected Next Opec Secretary General
...rsed in all things Opec and is a veteran oil market analyst. He served as Kuwait’s Opec governor from 2017 until June 2021, since when he has been Deputy Managing Director for International Marketing at state energy firm KPC. All told, Mr Ghais has held a number of senior roles within KPC over the past th...
Volume: 65Issue: 01Published at Fri, 07 Jan 2022 -
Saudi Surprises Market With 1mn B/D Production Cut
...nter months. But such leniency was not afforded to Gulf producers such as Iraq and the UAE in the summer when their domestic demand peaked. Russia’s compliance ever since the initial start of Opec+ cuts in January 2017 has been patchy at best, but it is typically afforded a free pass so long as co...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Saudi Asian Supplies Surged To Record High In November Amid Bumper Exports
...is means that 2018 as a whole will surely see the four countries combined Saudi takings top 2017’s previous record of 3.919mn b/d. For the first 11 months of 2018 – ie without the bumper December volumes – supplies were 3.924mn b/d, already fractionally up on the 2017 figure (see chart). Saudi Ar...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
The USA: The Global Oil Trade Titan
...oil trade hit a record 16.2mn b/d in 2017, the highest figure for any country ever. US oil output is at record levels. Crude production rose to 9.64mn b/d in October, the highest figure since 1971; add in record 4mn b/d NGLs output, and total oil output is well over 13mn b/d, an all-time high (se...
Volume: 61Issue: 01Published at Fri, 05 Jan 2018 -
Opec Starts Cutting From Record Annual High
...ker Hughes. The IEA last month upgraded its Q1 2017 projection for US output by 70,000 b/d and further upward revisions are likely. OPEC’S NUMBER 2*: IRAQ CONSOLIDATES ITS POSITION WHILE IRAN PULLS AWAY FROM THE CHASING PACK (MN B/D, CRUDE OUTPUT) *SAUDI ARABIA IS WAY OUT IN FRONT, PO...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Opec Signs Off 2015 With Record Output
...venue in 2015 would be down a hefty $47.4bn from 2014 (a drop of 43.9%), the UAE remains committed to increasing production capacity from around 3.2mn b/d to 3.5mn b/d in 2017. While this won’t necessitate additional production, it makes a reduction less likely. Iran also looks set to go head to he...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016