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Price Rout Extended As Demand Falls Further Behind Supply
...mn b/d target in place since December 2011. To date, US oil production has not only been increasing, but has been doing so at an accelerating rate, prompting the Saudis to sit up and take notice. North American oil output hit 12mn b/d in September and October, close to 2mn b/d higher than its 2013 av...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
OPEC Gets Through The Year But Oversupply Threat Looms
...wn by 490,000 b/d from October and the lowest figure since June 2011. Saudi Arabia cut output by 200,000 b/d whilst Libyan outages deepened (see p2) and Nigerian output also fell. There were also slight declines from Kuwait and the UAE due to field maintenance. Excluding Iraq, which saw a 70...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
Output Ratchets Up Ahead Of Vienna Meeting
...mpares with 9.3mn b/d in 2011, when Riyadh stepped in to compensate for lost Libyan production, and 8.5mn b/d in 2010. But Iraq has been the biggest beneficiary of lost Iranian market share on the back of US and EU sanctions (MEES, 30 November). Iraqi output in November notched up an eighth successive mo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012