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IEA Calls On Opec+ To Open The Taps In 2022
...clines. Between them, combined capacity of the trio now stands 830,000 b/d below their 2014 production. It goes without saying that the situation is even worse for Venezuela, which produced 2.36mn b/d in 2014, but now has capacity to produce just 580,000 b/d according to the IEA. With that in mind, th...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Saudi Oil Exports Back On Top
...udi figure was the lowest since 4Q 2014, and was primarily due to a steep drop in exports of refined products (MEES, 22 May). But Saudi Arabia surged back ahead of the US in April as it ramped up crude output to record levels amid its short-lived price war with Russia. Official data is not yet av...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Markets Face Precarious 2019 Amid Supply Uncertainty
...The IEAs’ first oil market outlook for 2019 highlights both the uncertainties surrounding next week’s Opec meeting in Vienna and the toll that the 2014 oil price slump has taken on the group. Although the largest producers in the Opec+ agreement want to boost output, the need for unanimity wi...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
US Output Set For Record 2mn B/D 2018 Growth; 2019 Forecasts Trimmed On Pipeline Constraints
...ble). • NGLs output is also slated to grow by almost 600,000 b/d to 4.33mn b/d for 2018, taking total 2018 oil output to a whopping 15.12mn b/d. This smashes 2017’s previous annual record of 13.09mn b/d, whilst forecast year-on-year gains of 2.03mn b/d top 2014’s previous record of 1.75mn b/d. • But, wh...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Opec Confirms 13% 2016 Revenue Fall: Iran The One Winner
...12 2013 2014 2015 2016 vs'15% vs '12% 2017* vs'16...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
OPEC Sees Oversupply Easing; Output At 31mn B/D+ For Third Month
...OPEC OPEC Sees Oversupply Easing; Output At 31mn B/D+ For Third Month Fresh from taking the decision to persist with its 30mn b/d production target – and in turn its November 2014 policy to defend market share over oil prices – Opec this week said it expects the excess supply in world oi...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Mena Oil & Gas: Key Production/Consumption Numbers From Bp’s 2015 Statistical Review
...MENA OIL & GAS: KEY PRODUCTION/CONSUMPTION NUMBERS FROM BP’S 2015 STATISTICAL REVIEW OIL (MN B/D)* Production 2014 vs 2010 Consumption 2014 vs 2010 Ba...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
OPEC Stays The Course As Iraq Storm Brews
...rld economic growth, in particular supply/demand projections for the second half of the year, as well as the outlook for 2015 “noting that the relative steadiness of prices during 2014 to date is an indication that the market is adequately supplied, with the periodic price fluctuations being more of a re...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Saudi Rise Boosts May OPEC Total
...low, Libya is capable of raising production by “not less than 500,000 b/d” within a week. 2014 West African Output On The wane (Mn B/d) OPEC Well-Head Production (Mn B/D, Mees Estimates) May ‘14 Apr ‘14 May vs...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Nigerian Minister Surprises With Bid For OPEC Top Job
...OPEC The first OPEC ministerial meeting of 2014 was expected to be a humdrum affair. A rollover of the 30mn b/d group ceiling had been flagged several weeks earlier by Saudi Arabia’s Ali Naimi – minister of the producer club’s most powerful member. The Saudi minister had declared hi...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014