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Opec Shows No Sign of Cutting Ahead of November Meeting
...now 2.57mn b/d above that of November 2014, when Opec members met in Vienna and opted against cutting to shore up prices. Yet only six Opec members have increased output, and five have seen it fall (see chart). Of these six, the two biggest gainers Iran and Iraq have vociferously claimed that wh...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
OPEC Production Falls Ahead Of December Meeting
...OPEC Opec crude oil production fell to 31.40mn b/d in October, down by 450,000 b/d from 31.86mn b/d in September according to MEES estimates. The fall, the largest since October 2014, was largely driven by Saudi Arabia and Iraq, with production in the latter dropping by 390,000 b/d. Al...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
OPEC Outages Calm Nerves Ahead Of Crucial Late-November Meeting
...udi Arabia to the Joint Data Initiative (JODI) database, it exported 1mn b/d of refined product in August. Figures for September and October are not yet available. OPEC Well-Head Production, October 2014 (Mn B/D, MEES Estimates) Oct ‘14 Se...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Is $90/B The New $100/B For Saudi Arabia?
...ar. According to provisional estimates by MEES, imports of Saudi crude in the first 10 months of 2014 averaged 1.22mn b/d, down 60,000 b/d over the same period of 2013, while Saudi Arabia’s share of US imports has edged higher in recent years (see graph). The displacement of light sweet crude oil im...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
OPEC Output Edges Up On Partial Recovery in Libya, Iraq
...believe production levels will only recover to around 1.3mn b/d through 2014,” it continued. Iraq Boost Iraq meanwhile boosted crude production in October by more than 120,000 b/d to 2.98mn b/d, despite reduced flows of crude oil through the key export pipeline extending from Kirkuk in the no...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013