Russia cut its oil production in early January by around 100,000 barrels per day (bpd) from December, after a signed deal with Organization of the Petroleum Exporting Countries (OPEC). The production cut is a third of what Russia has pledged. In December, non-OPEC producers agreed to ax production by 600,000 with half of the contribution […]
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At the Organization of the Petroleum Exporting Countries (OPEC) Meeting on November 30 in Vienna, it was agreed upon that overall production would be cut by 1.2 million barrels a day, pushing oil prices up by almost 10%, above $50 a barrel. OPEC produces a third of global oil, or around 33.6 million barrels per […]
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October proved to be a record month for the Organization of the Petroleum Exporting Countries (OPEC) for oil production, with 33.54 million barrels per day (b/d) being pumped per day. S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, surveyed OPEC and oil industry officials and […]
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Representatives from the Organization of the Petroleum Exporting Countries (OPEC) met with Russian Energy Minister Alexander Novak at the Gulf Cooperation Council (GCC) conference in Riyadh on Sunday to discuss a plan to stabilize the oil market. Russia is the world’s largest oil producer but not a member of OPEC and its budget has been […]
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Almost two years ago, the increased oil production by Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, drove down oil prices to nearly $50/bbl, the price at which many shale producers could not break-even, initiating an economic oil war against the United States. But their plan has backfired, since OPEC has failed […]
Read More These are the biggest articles circulating the natural gas industry for the week of April 18, 2016. Kane Lawsuit Delays Natural Gas Royalties Settlement Payment – TribLIVE By David Conti Kathleen Kane, the Pennsylvania Attorney General, has embarked on far-reaching legal battle over natural gas royalties. The lawsuit delayed the payment of nearly $11 million […]
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Forbes.com By: Gaurav Sharma As we approach the midway point of the current trading year, it has become apparent that oil benchmarks would find it hard to escape the $50-$75 per barrel range for the rest of the year, and much of 2016. Macroeconomics of the day also does not point to a dip below […]
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Wall Street Journal By JUSTIN SCHECK and SELINA WILLIAMS After spending more than five years and billions of dollars trying to re-create the U.S. shale boom overseas, some of the world’s biggest oil companies are starting to give up amid a world-wide collapse in crude prices. Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell […]
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Reuters By Samantha Sunne (Reuters) – Oil fell 5 percent to its lowest in nearly six years on Monday, extending the second-deepest rout on record, after Goldman Sachs warned that prices would fall further and Gulf oil producers showed no sign of cutting output. An unusual spate of major refinery glitches across the U.S. East […]
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Slate By Sharon E. Burke and Sharon Squassoni This article originally appeared in New America’s Weekly Wonk. On Thursday, Jan. 15, Future Tense—a partnership of Slate, New America, and Arizona State University—will hold an event in Washington, D.C., titled “How Will Human Ingenuity Handle a Warming Planet?” For more information and to RSVP, visit the […]
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