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Badri Urges Straight Course
...ssible emergency meeting ahead of May (MEES, 14 December). Just why such high supply has not had a bigger impact on prices was somewhat of a mystery. OPEC basket prices have been above $100/B for all but three months since January 2011. OPEC output, according to the OPEC’s own Monthly Oil Ma...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Ministers Roll Over Ceiling Again, Badri Gets Seventh Year
...asonable price levels for producers and consumers.” OPEC would “swiftly respond to developments that might have a detrimental impact on an orderly oil market,” it vowed. Basket prices have remained over $100/B for all but three months since January 2011 delivering a revenue bonanza, pr...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
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 -
Washington Likely To Maintain Global Energy Policy Commitment
...sessing the impact of an expected 1.25mn b/d drop in OPEC crude demand next quarter (see table). An upward revision to the view on OPEC NGLs and non-conventional supply dating back to 2011 prompted a downward revision to the MOMR’s projection for OPEC crude demand. This Call on OPEC is projected to...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
OPEC Role Steady Amid Rapid Change In IEA Outlook
...erage IEA crude oil import price approaches $125/B (in year 2011 dollars) by 2035. The study’s Current Policies scenario assumes the implementation of no policies adopted after mid-2012, while the 450 Scenario (MEES, 14 November 2011) assumes policy action to limit the long term global temperature in...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Shale Revolution, Slowing Demand Growth Cut Into Call On OPEC
...0bn for required additions and around $750bn for maintenance and replacement. Taking into account estimated midstream investments of “close to $1 trillion” the WOO sees global oil-related investment requirements 2011-35 “somewhere in the range of $6 to $7 trillion”.While precise growth in North Am...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012 -
Decision On New OPEC Chief Postponed
...neral. OPEC Crude Oil Production October 2011 – October 2012 (MEES Estimates – ‘000 B/D) 2012 2011 Oct Sep Aug Ju...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
IEA Predicts Bleaker Days Ahead For OPEC
...% of incremen-tal global liquids supply of 9.3mn b/d through to 2017, only second to North America’s 40% (largely from oil sands or tight oil). And for OPEC, Iraq is likely to be still more significant, supplying over 50% of a projected 3.34mn b/d increase for 2011-17. The MTOMR confirms findings of...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Aramco Sees Energy Paradigm Shift
...ogram (MEES, 28 November 2011). But the problem was “misleading hype” about how quickly renewables could make an impact. “As a result there have been a lot of disappointments,” he noted. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Iraq Proposes 2013 Budget Oil Price Increase
...gust, which was up from July’s 3.231mn b/d and August 2011’s 2.854mn b/d. Iraqi officials said that $13bn deficit projected for the 2012 budget is unlikely to materialize, because like previous years the government was unable to spend full allocations. Nevertheless, in July the Iraqi ca...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
High Prices Alarm Gulf Members
...pply. In fact, Riyadh reported its production as falling from July’s 9.8mn b/d to a 9.75mn b/d in August, – MEES and tanker tracker assessments broadly back this trajectory. The August production level is the lowest reported since October 2011, and a Saudi uptick in September would be entirely expected gi...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
OPEC Sees Fundamentals Steady Amid Market Turbulence
...EC IEA OPEC IEA OPEC IEA OPEC IEA 2012 2011 2011...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Crude Oil Formulas/Posted Prices ($/B)
...L PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Oct Se...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
OPEC Output Surge Fails To Rein In Prices
...me Japanese buying and a 150,000-200,000 b/d reported rise in Turkish purchases ended Iran’s output rout, although analyst consensus was that the majority of these new exports came from oil in storage rather than new production. OPEC Crude Oil Production August 2011 – August 2012 (MEES Es...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012