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Biden Arrives In Saudi On Quest For Oil: How Much Does The Kingdom Have In Reserve?
...pex (MEES, 26 March 2021). This was reflected in a steep drop in the number of completed wells in 2021 according to the Opec Annual Statistical Bulletin (ASB). This report shows the number dropping from 580 in 2019 to just 314 for 2021. Not just was that the lowest number since 2011’s 312, it...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Taiwan Crude Imports: Total & Mideast Volumes Stay Low
...y major importer, suggest the world is in for a long slog in terms of the rebound of oil demand from Covid-19. At an average of 790,000 b/d for the first half of 2020, volumes are down almost 14% year on year (see table), putting the country on pace for the lowest annual figure since 2011. And th...
Volume: 63Issue: 28Published at Fri, 10 Jul 2020 -
US Output Growth: Records Tumble But Is A Slowdown On The Way?
...me high of 14.075mn b/d in May and rose further to 14.173mn b/d in June. Growing output means that domestic production is now equivalent to 70% of US domestic demand, up from 47% in 2011, and this despite US demand rising to a 9 1/2 –year high of 20.30mn b/d in June. Gasoline demand, at 9....
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
A Tale Of Two OPECs: GCC Drills For The Future, Periphery Slashes Spending
...ganization’s share of what Baker Hughes calls its ‘International’ rigcount (excluding North America, China, Russia and the Caspian) has actually risen from 39% to 45% over the same period (see charts 3 & 4). Opec’s share has risen further over a longer time horizon: it was 32% in 2011. ‘GCC Opec’s rig co...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
OPEC Drilling By The Numbers: ‘Annual Wells Drilled’ From OPEC’S 2016 Statistical Bulletin
...sewhere meant that Opec’s share of global drilling has risen from 4.1% in 2011 to 5.2% last year. The global total is boosted by shale developments in the US and Canada, where production in the 10s of thousands of barrels a day can involve 100s of wells....
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
OPEC Output Up In June Despite Iraqi Outages
...vised 29.94mn b/d in May (see table). This pushed output above the group’s nominal 30mn b/d target, which has been in place since December 2011. At their latest meeting in Vienna last month, OPEC ministers decided to maintain this target for the remainder of the year. This is despite the fact that th...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
OPEC Sees Fall In 2014 Call on Its Crude
...30.38mn b/d, the producer group said – just 380,000 b/d off the 30mn b/d production ceiling in place since December 2011. OPEC’s figures based on secondary sources, highlighted Libya, Nigeria and Angola as the main culprits behind the drop, accounting for 339,000 b/d of the month-on-mo...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013