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Opec’s 4 December Meeting: Can Output Policy Deal Be Preserved?
...VEMBER 2014 (MN B/D) ...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Venezuelan Oil In Four Charts
...CREASE SHARE BUT US STILL DOMINANT VENEZUELA 2014 CRUDE EXPORT SPLIT (‘000 B/D)...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Opec Market Share Policy To Bear Fruit Next Decade - But Not For All
...0/B for Brent for 2011 through H1 2014 to below $50/B for all but a few days since the start of August (and below $45/this week). Though last year’s WEO was released in November, when prices had already fallen to around $80/B, at the time it was far from clear that this, never mind yet-lower prices, wa...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
OPEC VS IEA SUPPLY-DEMAND BALANCE, NOVEMBER 2015 FORECASTS (MN B/D)
... 1Q15 2Q15 3Q15 4Q15 2015 vs 2014 2014 OPEC IE...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
More Pain To Come As Iea Sees $80/B ‘Rebalance’ But Not Till 2020
...mand at 95.9mn b/d, up 5.3mn b/d on 2014) it will take an oil price of $80/B by 2020 to incentivize sufficient shale output to balance the market. “We think that the market will gradually recover and we see an $80/B oil price around 2020. This price is needed for the market to be balanced,” IEA Ex...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
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 -
Saudi Fights To Keep Asian Market Share
...pected to cut the prices of crude it sells to Asia in November,” Jadwa says. “Maintaining market share is even more of a priority now for Saudi Arabia than when prices began to fall in the second half of 2014. Global oil markets are more competitive and the Kingdom faces competition from both within Opec an...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Saudi Product Exports At Record High; Crude Volumes Crimped
...stained high figures of recent months mean 2015 as a whole will almost certainly surpass 2014’s record. Domestic consumption of fuel oil and diesel – much of which is burnt – has risen even more (see graphs 3 & 4). Other Mideast countries are also burning crude at near-record levels. Iraq’s 22...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame
...mber of active rigs offshore Brazil has fallen from 40 to 21 over the last two years (see p10). Though the IEA projects overall non-Opec output of 58.3mn b/d for 2015, up 1.3mn b/d on 2014, output will finally begin to fall this quarter with the predicted 2016 figure of 57.8mn b/d down 500,000 b/d on 20...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
No End In Sight To Record Saudi Drilling
...eting, Mr Naimi told energy ministers that the Opec kingpin would be pressing on with its investments in all phases of the oil and gas sector, despite the plunge in oil prices (MEES, 9 October). Since steering Opec toward its November 2014 decision to pursue market share over oil prices, Mr Naimi has al...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Russia Ready To Talk… But Opec, Shell Issue Oil Price Warning
...heduled to meet for their next ordinary meeting in Vienna in early December, where they will ultimately review the outcome of their Saudi-led policy of non-intervention adopted two meetings ago in November 2014, and rubber stamped at the latest meeting in June. MOSCOW’S U-TURN? To ma...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
US Year-On-Year Oil Output Growth To Turn Negative As Of January 2016
...96mn b/d in September 2014. But, the decline could be more dramatic than some expect, Mr Papa warns. “It is happening literally as we speak,” he said. Production growth year-on-year has fallen to around 600,000 b/d very recently, he said, compared to a constant growth of about 1.1mn b/d since June 20...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
OPEC, Non-OPEC Coordination Unrealistic, Says Kuwait
...mping, and then we would lose our market share.” Brent crude futures were trading at around $45/B as MEES went to press, down from around $55/B three months ago, $95/B 12 months ago, and above $100/B in late-June 2014 (see p16). These latest comments from the Kuwaiti minister are in line with the st...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Saudis Ease Off Export Pedal, Boosting Stocks To New High
...D15 vsYTD14 YTD14 2Q15 vs1Q15 vs2Q14 1Q15 2014 2013 2012 Crude Production 10...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Saudi Official Crude & Oil Products Output, Trade & Balance (‘000 B/D)
...15 vs1Q15 vs2Q14 1Q15 2014 2013 2012 Crude Production 10,361 10,564 10,333 10...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Venezuela Steps Up Campaign To ‘Stabilize’ Oil Prices
...ading at around $49/B as MEES went to press, down from around $65/B three months ago, $99/B 12 months ago, and above $110/B in late-June 2014 (see p20). And Venezuela’s mostly heavy crude typically trades at a big discount to Brent – for August the country’s Opec basket component Merey averaged $35...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
US Output Falls 550,000 B/D From Peak, Gives Succor To Saudi Policy
...ght oil plays. Reduced investment has resulted in the lowest count of oil-directed rigs in nearly five years and in well completions that are significantly behind 2014 levels,” the EIA says. “Expected crude oil production declines from May 2015 through mid-2016 are largely attributable to un...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
August OPEC Production: Output Falls For First Time In Six Months
...oduction growth since the start of the year. At 31.88mn b/d in August, Opec output is up 1.49mn b/d on December 2014 levels. Including volumes from the Kurdistan Regional Government (KRG) in the north, Iraqi output slipped from an all-time high of 4.25mn b/d in July to 4.19mn b/d as overall export vo...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
‘That’ OPEC Editorial: Did It Really Say All That Much?
...fferent. In the piece, Opec said “it stands ready to talk to all other producers,” albeit only on the condition that the dialogue would “be on a level playing field.” The piece, and this line in particular, appeared to catch the imagination. Was this Opec showing a willingness to relent on its November 2014...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Iraq Notches Up Output Records But Trouble Looms
...D15** vsYTD14** 1H15 1H14 2014 2013 2012 CRUDE OUTPUT: Federal^ 3,718 3,591 +66...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015