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Opec Faces Uncertain Outlook As Focus Turns To Vienna
...16, 2017 and 2018 as well and isn’t merely the reclassification of NGLs as crude. STORM CLOUDS OVER VIENNA This reduced market share has hit Opec’s weakest members the hardest. Iran and Venezuela are both facing major political challenges, while cash-strapped countries such as Algeria an...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
US Shale Records Test Infrastructure Limits
...tput is now forecast to top 12mn b/d by the end of 2019 (see charts). For this year the EIA now forecasts 10.72mn b/d, up a whopping 1.37mn b/d on 2017 – a record annual gain, beating 2014’s 1.29mn b/d. The hike in forecasts comes in on the back of soaring oil prices. US marker WTI, having av...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Oil Price Gains Prompt Debate Over Demand Slowdown
...e group cut its expected global demand growth rate from 1.47mn b/d to 1.44mn b/d (see Chart 1). “Crude oil prices have risen by nearly 75% since June 2017. It would be extraordinary if such a large jump did not affect demand growth” says the group. Demand growth cuts have fallen solely on 2H 20...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Opec Facing Tough Choices Ahead Of Vienna Meeting
...RKET REBALANCING* REMAINS ON COURSE FOR Q4 2017... (CUMULATIVE 2017 STOCK DRAWDOWN MN BARRELS) ...BUT OPEC’S LATEST NUMBERS SHOW THE FINISH LINE GETTING EVER FURTHER AWAY *BASED ON OPEC SEC-GEN STATEMENT THAT REBALANCING REQUIRES 270MN BARREL STOCKDRAW. SOURCE: OPEC, IEA, MEES. BU...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Saudi Arabia Sees No Need For OPEC Output Hike
...ghly ambitious 5.7mn b/d by 2017, up from 3.7-3.8mn b/d today (MEES, 18 April). OPEC’s production, according to MEES surveys of monthly output, rose above the OPEC-12 ceiling of 30mn b/d in February, but has since been below target, largely because of Iran and Libya. Yet Mr Naimi says the focus sh...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
IEA: US Shale To Sideline OPEC Going Forward
...rgely unchanged from the previous MTOMR, with the 2017 estimate trimmed by just 95,000 b/d on account of marginally lower than expected 2013 demand and slightly weaker expectations of economic growth. Demand growth is projected to average 1.1mn b/d per year over the coming five years for a total in...
Volume: 56Issue: 20Published at Fri, 17 May 2013