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Saudi Data Analysis: Oil Exports Hit 11-Year High To Top 8.5mn B/D In February After Satorp Start-Up
...SAUDI ARABIA Feb-14 Jan-14 J-F ‘14 vs J-F’13 Dec-13 Nov-13 2013 vs ‘12 2012 2011 2010 2009 Crude Production (Official) 9,850 9,...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
OPEC Output Slides In March On Iraqi, African Outages
...bruary (see table). This is the largest monthly fall since March 2011, when the civil war knocked 1.1mn b/d off Libyan output. The March fall tallies with the latest data from London-based tanker tracker Oil Movements, which put OPEC sailings at around 23.8mn b/d for the four weeks ending 22 March, a ma...
Volume: 57Issue: 15Published at Fri, 11 Apr 2014 -
Saudi Arabia Keeping Politics Out Of The Mix
...pense of falling imports of Mexican crude, which slumped in 2013 to 919,000 b/d from 1.2mn b/d in 2011, and from Venezuela, whose exports to the US fell to 797,000 b/d last year from 960,000 b/d in 2012. Canada remains the single largest exporter of crude oil south of its border and its share of the US...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Saudi King Springs Surprise On Eve Of Obama Visit
...fluence and is able to sway decisions on output ceilings. However, it has acted unilaterally on several occasions to balance markets, in 2011 to make up for the loss of 1.5mn b/d of Libyan crude oil and then again in 2012, to replace the 1mn b/d decline in Iranian export volumes due to sanctions. Sa...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
OPEC Annual Data Special
...06 2007 2008 2009 2010 2011 2012 2013 Saudi Arabia 8.49 8.62 9....
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Asian Buyers Influence Key Oil Benchmarks
...ft a glut of west African crude begging for a home, a situation which would have been exacerbated had fellow light sweet oil producer Libya been producing at normal levels. For South Korea, Forties became attractive after it concluded a Free Trade Agreement with the European Union in 2011, as the grade re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Saudi Arabia Increases Asian Focus With Japan Oil Storage Deal
...iority claim on crude in tanks in the event of a supply emergency. The volume of crude to be stored has also been raised to 6.3mn barrels from 1.3mn barrels under the original 2011 deal. The expansion of storage capacity will make the Okinawa storage site larger than Saudi Aramco’s facility in Rotterdam, wh...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Chinese Import Slowdown Sets Alarm Bells Ringing For OPEC
...nce mid-2012 been required to dramatically reduce its imports of Iranian crude oil so as to stay in line with US sanctions placed on Iran’s key oil and banking sectors. Washington in late 2011 passed a law cutting off access to the US financial system for entities involved in oil trade with Iran and it...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
OPEC Raises Up World Oil Demand Forecasts
....46mn b/d in November. This compares with a MEES estimate of 29.82mn b/d. World Oil Demand & Call On OPEC OPEC Projections Of Global Supply-Demand Balance (Mn B/D) Annual 2008 2009 2010 2011...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
OPEC Output Recovers In December On Gulf Boosts
...nce September 2011 – when the country was still wracked by post-revolutionary turmoil. Protests at a number of Libya’s main oil fields and terminals continued throughout last month, severely disrupting supplies and keeping production at well below the near the 1.5mn b/d Libya was pumping earlier this ye...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
US Hikes Mid-Decade Output Estimates By 2mn B/D
...yond domestic demand and maximise product exports. Net US products exports shot up from 250,000 b/d in 2011 to over 900,000 b/d for 2012 and an EIA forecast of 1mn b/d for this year. Net products exports are set to hit 1.3mn b/d by 2030 and 1.8mn b/d by 2040, the EIA predicts. Of course, a revoking of th...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
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 -
Gathering Storm For OPEC As Iran Lays Down The Gauntlet
...epticism on the part of the Saudis over the Islamic Republic’s ability to make good on its pledge. Saudi Arabia, Iran: Crude Output Change Since Jan 2011* (Mn B/d)...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
‘Every Time We Go To Quotas, Who Bears The Brunt? Us’
...how does an organization impose discipline in the absence of production quotas, previously calculated on a pro-rata basis and now replaced with informal targets that have not been made public. The only guidance issued by OPEC since December 2011 has been an overall production target of 30mn b/d th...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Iran Prepares For Full Return To Oil Markets But Will Saudi Make Way?
...ropean Union imposed a series of economic and oil sanctions against Tehran starting in 2011 over its controversial nuclear program. Since then Iran’s oil exports have fallen below 1mn b/d from around 2.5mn b/d before the EU ban on imports of Iranian crude came into effect in mid-2012. According to MEES es...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
OPEC Output Edges Up On Partial Recovery in Libya, Iraq
...oduction at an average of 500,000 b/d in October, up approximately 150,000 b/d on September. This increase came despite renewed protests at the country’s main oil fields and terminals. Facing the worst disruption to its oil industry since the 2011 civil war, Libya appeared to have turned a corner in la...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Supply Challenge Still Alive Despite Shale Surge
...deed, domestic energy demand within the GCC is growing at an annual 5% and in 2011 stood at 200mn tons of oil equivalent. That number is expected to double in the next decade, said a senior Gulf banker. Saudi Arabia consumes 2.8mn b/d during peak consumption periods and has recently taken to su...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
IEA, OPEC See Deeper Cuts In 2014 Call On OPEC
...t average oil output for the group at 30.05mn b/d in September, down close to 400,000 b/d from August levels – leaving it just 50,000 b/d off the 30mn b/d production ceiling agreed on in December 2011. OPEC members are set to meet in Vienna in December this year. But despite crude oil pr...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
QEWC Secures $450Mn Funding For Desalination
...December 2011. Saudi Arabia too cut back production in September, from a 33-year high of 10.2mn b/d posted for the previous month. Initial MEES estimates put total supply from the producer group at 30.04mn b/d, down significantly from an upwardly revised 30.83mn b/d in August. The 80...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Output At Near Two Year Low In September On Iraqi Outages
...OPEC OPEC Output At Near Two Year Low In September On Iraqi Outages OPEC oil production fell to its lowest level in almost two years in September, as further declines from Libya and Iraq brought the producer group close to its 30mn b/d output target, agreed in December 2011...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013