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Saudi Oil Sector Creaking Amid Heavy Opec Cuts And Summer Demand
...06 to 2016” (MEES, 30 November 2018). Volumes are on track to increase some 34% to more than 1.5mn b/d over the course of the year and MEES estimates that the kingdom shipped more than 1.6mn b/d to China last month. Meanwhile the US, which was the largest importer of Saudi crude as recently as 2014...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
GCC Currencies: To Peg Or Not To Peg?
...Opec’s core GCC countries peg their currencies to the US dollar, an anchor that has served them well given that it is the currency in which their key export is denominated. But as the third anniversary of the late 2014 collapse in oil prices approaches, debate is becoming more lively as to wh...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
US Data: Reading The Runes
...oks very modest when set aside the peak rig count of 1,609 hit in October 2014 (see chart 1). On the back of this increased drilling there are initial indications that US crude output may finally be close to bottoming out. Latest provisional US production data show crude output falling by a fu...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Saudi Refinery Output, Stocks Hit All-Time Highs
....40mn b/d for July according to revised MEES estimates. Saudi Arabia has now notched up five straight months of 10mn b/d-plus crude output, the longest ever such period. Average output for the second quarter was 10.4mn b/d, up almost 700,000 b/d on Q2 2014. > Bumper volumes of crude also continue to en...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Uncertain Fundamentals Threaten To Ambush Projections
...OPEC Uncertain Fundamentals Threaten To Ambush Projections OPEC ministers will have to contend with a series of challenges when they meet in December as they contemplate the impact of soaring US-led non-OPEC oil production and an anticipated slump in demand for OPEC oil in 2014...
Volume: 56Issue: 34Published at Fri, 23 Aug 2013