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US ‘Loss’ Is OPEC Gain As Vienna Meeting Nears
...gions, made for dramatic headlines, the reality is not so bleak. The EIA’s revision actually raises the estimate of production from Monterey to an average 57,000 b/d between 2010 and 2040, up from a 2013 estimate of 14,000 b/d. The new report will be published alongside the EIA’s 2014 Annual Energy Ou...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Climate Study Targets ‘High-Cost Barrels’; OPEC Share Set To Rise
...gher than this by the end of the period). IEA: Oil Production Changes By OPEC/Non-OPEC 2015-35 (Mn B/D) Exposure To High-Cost Barrels By Ownership Type (% Of Production To 2050)* Breakeven Price Bands Of 2014-50 Oil Production By Ownership Type* (Mn B/D) Carbon Tracker’s Fi...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Saudi Arabia Sees No Need For OPEC Output Hike
...2014 as a whole, albeit by a much more modest 100,000 b/d (see table). In hiking its ‘call on OPEC’ figure the IEA cited continued non-OPEC outages, uncertainty as to the timing of a return in Libya to full production, worsening security conditions in northern Iraq as a result of pipeline sabotage an...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Boost Pushes OPEC April Production Higher
...0,000 b/d for each of the last three months for which JODI data is available (December 2013, January 2014 and February 2014), again the three highest figures on record (see graph). Iraqi output held steady at 3.3mn b/d as higher output from southern fields and a rise in domestic consumption was cancelled ou...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Tipping Point: China Overtakes Us As Opec’s Largest Crude Customer (Mn B/D Monthly Imports)
...OPEC Tipping Point: China Overtakes Us As Opec’s Largest Crude Customer (Mn B/D Monthly Imports) Chinese Crude Imports, Q1 2014 ('00...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
IEA, Opec Views Diverge On 2014 ‘Call On OPEC’
...OPEC IEA, Opec Views Diverge On 2014 ‘Call On OPEC’ The views of OPEC and OECD energy watchdog the International Energy Agency (IEA) on the global 2014 demand for OPEC crude have sharply diverged in their latest monthly reports. While each chose to leave their fo...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
OPEC Output Slides In March On Iraqi, African Outages
...ticipated additional volumes. “OPEC will be ready to absorb the extra production,” he told reporters in Doha this week. “There is no problem for OPEC to absorb any production increment from Iraq and Iran in 2014. When Libya output comes back, we will accommodate it, because its production is in our nu...
Volume: 57Issue: 15Published at Fri, 11 Apr 2014 -
Saudi Arabia Keeping Politics Out Of The Mix
...nthly Energy Review for March 2014 shows that imports of Saudi crude oil by the US averaged 1.328mn b/d in 2013, roughly unchanged from 1.365mn b/d the previous year. The OPEC giant, the world’s largest oil exporter, ranks second after Canada as a supplier of crude to the US market and comes at the ex...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Bullish OPEC Once Again Raises Oil Demand Forecasts
...OPEC Bullish OPEC Once Again Raises Oil Demand Forecasts OPEC this week raised its forecast for 2014 world oil demand growth for the second month running, on account of what it said were stronger than expected economic growth figures in North America and Europe. This is de...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Saudi Arabia Increases Asian Focus With Japan Oil Storage Deal
...bsidiary, for the sale of shares in the companies containing the retail, supply and distribution logistics and aviation businesses in Italy. The sale, the commercial terms of which remain confidential, is subject to regulatory approval and is expected to be completed by 2014, Shell said. Under the ag...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Obama Hopes Saudi Visit Will Mend Fences
...ked both Saudi Arabia and Kuwait to extend credit facilities for the $10bn of oil they will supply in 2014. The two OPEC states supply around 75% of Pakistan’s crude and oil product imports. Saudi Arabia has been asked to extend its credit facilities for oil supply to one year from the current 30 da...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
OPEC, EIA Boost 2014 World Oil Demand Outlooks
...OPEC OPEC, EIA Boost 2014 World Oil Demand Outlooks OPEC has revised upwards its projection for world oil demand in 2014, despite a slowdown in some key emerging economies. Even with this revision the organization says it is erring on the conservative side; if the economic co...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...intain top spot for 2014 as a whole; indeed, give or take the odd month, falling US imports mean China is likely to hold this position for decades to come. Beijing Diversifies OPEC supplies to China totaled 3.59mn b/d in 2013, accounting for 63.6% of total imports. This is down slightly from the 65...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
OPEC Cautiously Optimistic On 2014 Demand And Price Prospects
...OPEC OPEC Cautiously Optimistic On 2014 Demand And Price Prospects OPEC’s key medium term challenge is to keep its head above water for the next decade. Over these 10 years it will have to manage production increases from within its own ranks and continued growth in non-OP...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
OPEC Raises Up World Oil Demand Forecasts
...OPEC OPEC, in its latest oil market commentary, has edged up its world oil demand forecasts for both 2013 and 2014, citing positive developments in the OECD economies of both Europe and North America. Still, the producer group does not expect this to translate into increased demand for it...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
OPEC Output Recovers In December On Gulf Boosts
...wait’s Governor to OPEC Muhammad al-Shatti said in state-owned Kuwait Petroleum Corporation’s latest newsletter. “OPEC is expected to produce at below the group’s agreed ceiling of 30mn b/d in the first quarter of 2014, and that is a major supporter for the stability of current price levels,” he sa...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Jadwa: Saudi May Need To Cut Output By 200,000 B/D In 2014
...OPEC Jadwa: Saudi May Need To Cut Output By 200,000 B/D In 2014 Saudi Arabia, which has just announced its budget for 2014, is likely to cut its oil production to an average 9.4mn b/d from 9.6mn b/d in 2014 to accommodate anticipated higher output from Iran, Libya, Ir...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
US Hikes Mid-Decade Output Estimates By 2mn B/D
...OPEC US Hikes Mid-Decade Output Estimates By 2mn B/D The call on OPEC crude oil production for the coming years could be set for another sharp downward revision. The US government’s Energy Information Administration (EIA), in the 16 December ‘Early Release’ of its 2014...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
OPEC Gets Through The Year But Oversupply Threat Looms
...rsus 4Q13. The latest OPEC Monthly Oil Market Report (MOMR) says that demand for OPEC crude is set to contract by 310,000 b/d to 29.57mn b/d in 2014 from estimated 2013 demand of 29.88mn b/d. Yet when OPEC ministers met in Vienna on 4 December, they decided to maintain the 30mn b/d target for the next si...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
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