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China Takes Record Saudi Crude As Iran Volumes Fall To 9-Year Low
...cord 5.61mn b/d from Opec and a record 4.27mn b/d from the Middle East. That said the Mideast share, at 43.2% of total 1H 2019 imports, is well down on the annual peak of 52% hit in 2014. China remains vulnerable to any disruption in the Straits of Hormuz, but much less so than Japan which sourced a wh...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
US Drilling: Schlumberger Chief Calls For Caution - Has He Got His Wish?
...the 40% upstream cost reductions achieved since 2013 to ‘stick’. But others are more skeptical. The IEA estimates that global upstream costs were 35% lower in 2016 than 2014 and that around half of these savings (50-55%) are “structural” rather than “cyclical” (45-50%). Of the 45% fall in US shale co...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Opec Output Hits New Record In July As Prices Tumble
...y16 Jul16 v15 YTD 16 v YTD 15 YTD 15 2015 2014 S Ar...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
OPEC Holds Ground After Russia Talks
...ergy demand growth, according to data supplied by BP. This makes markets sensitive to any sign of a slowdown in consumption in the Asian powerhouse. Growth in China has been slowing. BP says energy consumption grew by 2.6% in 2014. This, it says, was less than half the 10-year average growth rate of...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
End Of OPEC’s Revenue Golden Age?
...OPEC OPEC’s Annual Statistical Bulletin (ASB) for 2014 shows its members’ oil export revenue for 2013 falling by 8% or $96bn from 2012’s record numbers. The US government’s Energy Information Administration (EIA) predicts that for 2014 OPEC oil export revenues will fall by a further $50...
Volume: 57Issue: 31Published at Fri, 01 Aug 2014 -
Twilight Looms For OPEC’s Golden Age
...ploration – would appear to support OPEC’s argument as far as non-conventional oil development outside North America is concerned. But in the US supply is surging on the back of shale oil and gas development. The OECD’s IEA energy watchdog projects non-OPEC supply rising 1.2mn b/d this year and 1.3mn b/d in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013