Oil in Global Economy Series: OPEC crude production vs. US exports
Apr 06, 2017 09:44 am UTC| Commentary
The oil market is currently focused on the recovery of shale oil in the United States and assessing the threat it poses to the oil price recovery amid an oil production deal by OPEC and 11 non-participating N-OPEC...
Oil in Global Economy Series: Oil’s big speculative risk
Apr 06, 2017 08:44 am UTC| Commentary
In terms of percentage gains, 2016 was a very good year for oil (WTI). It jumped from just $32 per barrel in January to $53.7 per barrel to end the year. That is more than 67 percent gains. However, 2017 has so far been...
Oil in Global Economy Series: Fundamentals to watch out in 2017
Apr 03, 2017 09:10 am UTC| Commentary
When oil price bottomed around $27 per barrel last year in February, many predicted a major reversal and the dark days for producers to be over. Yet, more than a year after the bottom, the oil market is struggling to cope...
Oil in Global Economy Series: Oil rig counts rise in US ignoring OPEC
Apr 03, 2017 08:10 am UTC| Commentary
Despite warnings from OPEC on the increasing supplies to an already oversupplied market, the shale companies in the United States have increased the number of active rigs in the country to 824, the highest level since...
Extension of OPEC oil cut deal likely - Iranian Oil Minister Bijan Zanganeh
Mar 28, 2017 14:11 pm UTC| Commentary
Speaking to reporters in Moscow, Iranian Oil Minister Bijan Zanganeh said that an extension to the global oil cuts deal is likely, but added that time is needed to discuss the subject thoroughly. It seems that most of...
US crude oil production likely to reach multi-decade high by December, says Barclays Research
Mar 28, 2017 07:32 am UTC| Commentary Economy
Rising oil prices resulting from the OPEC deal have breathed new life into the US EP sector, which is likely to complicate OPECs decision in May. If production growth exceeds expectations, it could threaten to undo the...
Oil in Global Economy Series: Gigantic 14 billion barrel oil well of Iran adds to compliance concern
Mar 24, 2017 11:09 am UTC| Commentary
Anyone concerned with Iran complying to the OPEC deal in the future should be more worried as a gigantic field of oil is ready to come online. The South Pars offshore field on the Iran-Qatar border was officially...
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