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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 -
Naimi: Saudi Arabia To Stay Above Iran, Iraq Fray
...not think there is a decrease in the call on OPEC. Q: OPEC’s latest report puts it at less than 30mn b/d. A: These are projections. We do not know what the facts will be. Q: Do you have room to cut in 2014? A: To cut? Why? Q: You don’t think in 2014 a cut is po...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Iran Prepares For Full Return To Oil Markets But Will Saudi Make Way?
...-nation group meets to determine output policy for the first quarter of 2014, it will have to contend not only with the faster-than-expected rise in US shale oil production, but also prepare the ground for the eventual rise in Iranian oil output if the sanctions are scrapped. Back home, Iran has been bu...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
OPEC Holds Firm On 2013-14 Call On Its Crude
...13 oil demand in non-OECD countries was revised downward versus the previous month’s estimate on weaker demand growth data from the Asian economies of Japan, South Korea and India. For 2014, world oil demand is projected to increase by around 1.04mn b/d relative to this year, hitting 90.78mn b/d (un...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
OPEC To Ride Out ‘Shale’ Storm And Reemerge Stronger
...12 2013 2014 2015 2016 2017 2018 2020 2025 2030 2035 US & Ca...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
OPEC Output Edges Up On Partial Recovery in Libya, Iraq
...believe production levels will only recover to around 1.3mn b/d through 2014,” it continued. Iraq Boost Iraq meanwhile boosted crude production in October by more than 120,000 b/d to 2.98mn b/d, despite reduced flows of crude oil through the key export pipeline extending from Kirkuk in the no...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Supply Challenge Still Alive Despite Shale Surge
...anks to rising indigenous oil and gas production in the world’s largest energy consuming market. Non-OPEC producers, led by the US, Canada and Kazakhstan, are expected to raise output in 2014 by 1.7mn b/d, the International Energy Agency (IEA) said in its last monthly oil report. It predicted de...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
OPEC Content With Ceiling Ahead Of December Meeting
...recast to increase by 800,000 b/d this year and 1mn b/d in 2014, there is clearly enough supply to meet rising demand.” ...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
IEA, OPEC See Deeper Cuts In 2014 Call On OPEC
...OPEC IEA, OPEC See Deeper Cuts In 2014 Call On OPEC Stronger non-OPEC crude oil supplies are set to sideline OPEC supplies by even more than previously thought, despite a predicted resurgence in world oil demand growth to levels last seen in 2009, the International En...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
QEWC Secures $450Mn Funding For Desalination
...owth by 0.13 percentage points in 2014, and raises other risks. The third scenario, given the present difficulties for the global economy, envisages the same $150/B spike, accompanied by greater adverse effects on confidence, with capital retreating to safe havens and a persistent decline in eq...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Output At Near Two Year Low In September On Iraqi Outages
...13 percentage points in 2014, and raises other risks. The third scenario, given the present difficulties for the global economy, envisages the same $150/B spike, accompanied by greater adverse effects on confidence, with capital retreating to safe havens and a persistent decline in equity pr...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
OPEC Relaxed On Supply, Prices
...OPEC Secretary-General ‘Abd Allah al-Badri is not losing any sleep over the impact of surging tight oil production in the US, which he says will be short-lived. He says oil prices above $100/B are “reasonable” and likely to hold at current levels at least until the end of 2014. The call on OP...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
OPEC, IEA Say Oil Market ‘Well Supplied’ Despite Ongoing Disruptions
...ice of oil. 2014 Call Edges Down With the supply disruptions hitting a number of OPEC’s key members over the past quarter, the MOMR puts total August output for the producer group at 30.23mn b/d based on secondary sources, down around 124,000 b/d on its July estimate of 30...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Uncertain Fundamentals Threaten To Ambush Projections
...OPEC Uncertain Fundamentals Threaten To Ambush Projections OPEC ministers will have to contend with a series of challenges when they meet in December as they contemplate the impact of soaring US-led non-OPEC oil production and an anticipated slump in demand for OPEC oil in 2014...
Volume: 56Issue: 34Published at Fri, 23 Aug 2013 -
OPEC sees Tight Markets As Libyan Volumes Slump, Iraq Disappoints
...r world oil demand growth of 1.04mn b/d in 2014 were unchanged though MOMR adjusted the numbers in absolute terms to account for minor revisions in 2012 and 2013. Global oil demand for 2014 was estimated at 90.75mn b/d, up from the 90.68mn b/d projected in the previous MOMR. The MO...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013 -
Twilight Looms For OPEC’s Golden Age
...ploration – would appear to support OPEC’s argument as far as non-conventional oil development outside North America is concerned. But in the US supply is surging on the back of shale oil and gas development. The OECD’s IEA energy watchdog projects non-OPEC supply rising 1.2mn b/d this year and 1.3mn b/d in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
OPEC Sees Fall In 2014 Call on Its Crude
... OPEC OPEC Sees Fall In 2014 Call on Its Crude Strong non-OPEC supply growth means demand for OPEC crude will actually contract by around 250,000 b/d next year despite world oil demand growth rebounding to its highest growth rate in four years, the producer group says in...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013 -
OPEC Capacity Growth To Remain Muted Through 2018
...stream over the coming five-year period. OPEC sustainable Crude Production Capacity Estimates (Mn B/D) 2012 2013 2014 2015 2016 2017 2018 2012-18 Al...
Volume: 56Issue: 21Published at Fri, 24 May 2013