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Opec Production Growth Picks Up In November, But Still Remains Well Under Output Ceiling
...awed” at the World Petroleum Congress in Houston this week. “It does not help when the pressure is mounting to stop all new investments in oil and gas. Across the industry, upstream capex fell by more than 50% between 2014 and last year, from $700bn to $300bn,” he says. TotalEnergies CEO Patrick Po...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Opec Output On Track For Eight-Year Low
...om falling further. With output down 560,000 b/d this year, it is on track to come in at 9.76mn b/d, the lowest annual figure since 2014. Arguably the biggest question oil markets have regarding Opec now is, for how long will Saudi Arabia continue bearing the brunt of the cuts? The kingdom plans to...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Opec Hits New Record Output as Attention Switches to Non-Opec
...n-Nov16 v Jan-Nov15 2015 2014 S Arabia* 10.43 -0.05 +0.18 10.48 10.06 -0.37 10.35 +0.15 10.20 9.70 Iraq 4.64 +0....
Volume: 59Issue: 49Published at Fri, 09 Dec 2016 -
Kuwait: Does Ministerial Shake-Up Indicate A Firm Stance?
...nuary 2014. He becomes Kuwait’s fourth oil minister in less than three years. However, the revolving door at the ministry has little impact on policy, which is set by the Supreme Petroleum Council (SPC). It does however underline Kuwait’s continued political volatility – a deterrent for IOCs. That said, th...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Saudi Stance Wins Out At Opec Meeting
...ying to secretly broker an output cut. In truth any ‘deal’ that would rest on cuts from not only Iran but also other, non-Opec, countries like Russia was never going to fly. Unlike in November 2014, no non-Opec countries were even present, although Saudi Oil Minister Ali Naimi says he is “always ready to...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Lower Oil Prices: Making The World A Better Place?
...low 2014 levels. At $70/B they believe, all other producers can do is stand still if natural decline is factored in. For Russia, the pain is more acute since lower oil prices are proving more damaging than international sanctions over the Ukraine crisis, sending the ruble tumbling against the US do...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Gathering Storm For OPEC As Iran Lays Down The Gauntlet
...set to decline by some 300,000 b/d in 2014 over 2013, according to IEA projections. “I will not give up on Iran’s right to produce 4mn b/d under any circumstances,” Mr Zanganeh, back in Vienna as minister for the first time since he last held the post eight years ago, told reporters ahead of th...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Naimi: Saudi Arabia To Stay Above Iran, Iraq Fray
...not think there is a decrease in the call on OPEC. Q: OPEC’s latest report puts it at less than 30mn b/d. A: These are projections. We do not know what the facts will be. Q: Do you have room to cut in 2014? A: To cut? Why? Q: You don’t think in 2014 a cut is po...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013