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Saudi Oil Revenues Stabilize As USA Extends Lead As World’s Top Exporter
...cade. US shale has proven extremely resilient, with a breakeven price comfortably below $50/B, leaving Opec+ producers with the invidious choice of either cutting production or risking a renewed price war such as in 2014-16 when Brent prices dropped below $40/B. If US production growth does indeed sl...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
US Output:2019 Sees Slew Of Records But 2020 Forecasts Scaled Back
....23mn b/d for 2019, some 1mn b/d ahead of number two Russia (MEES, 3 January), with Saudi Arabia on 9.75mn b/d in distant third spot. The 1.24mn b/d (11.3%) of output gains that US producers notched up in 2019 were the third highest on record, behind 2018’s phenomenal 1.64mn b/d rise and 2014’s 1....
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
OPEC Output Slumps To Four Year Low
...ghes show that the number of active oil rigs in Iraq jumped to 67 in February, its highest level since August 2014. Of the non-Opec portion of participants, the picture is decidedly mixed. While Oman swiftly moved to hit its target in January, the largest participant, Russia, is lagging behind. Ru...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Opec’s Falling Production Capacity Strengthens Saudi Control
....49 32.47 32.48 -0.13 32.62 *INCLUDES SHARE OF NEUTRAL ZONE. SOURCE: IEA, MEES. PRODUCTION: LOWER FOR LONGER The decline in oil prices since late 2014 has taken it...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Opec Output Edges Down But Saudi Wary Of ‘Free Riders’
...c16 Jan17 Dec16 2016 vs 2015 2015 2014 S Arabia* 9....
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
IEA Warns Of Capacity Squeeze Unless Investment ‘Rebounds Sharply’
...% cut in upstream investment over 2014-16 will have to be rapidly reversed if the world is not to face a supply crunch and a spike in prices towards the end of its forecast period. As such the IEA essentially repeats warnings in its inaugural World Energy Investment Report, released last Se...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Iraq, Nigeria Outages Lead Opec Production Fall
...minently. OPEC WELLHEAD PRODUCTION, FEBRUARY 2016 (MN B/D, MEES ESTIMATES) Feb '16 Jan '16 Feb v Jan vs Feb '15 2015 2014 S Ar...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Iraq Output Falls From January Record, Double-Counting Confusion Reigns
...bsequently assuming operatorship. ‘Khurmala’ output for 2014 was just 113,000 b/d: as with the recent ‘jump’ in federal output this ‘increase’ is largely, if not wholly, chimeric coming from the takeover of the additional fields. What is not chimeric is that massive investment in southern Iraqi export in...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Saudi Arabia Takes Lesson From History
...tures prices, which traded at a 2014 high of $115/B in June, had shed 30% when OPEC met in November. The market took a further dive after the shock OPEC decision to maintain its output ceiling at 30mn b/d, despite forecasts of a sharply lower demand for its oil in 2015. Brent fell below $50/B in Ja...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015