Oil in Global Economy Series: UAE to expand production capacity to 3.5 million barrels by end 2018
Aug 09, 2017 12:01 pm UTC| Commentary
United Arab Emirates (UAE) state owned oil company, Abu Dhabi National Oil Company (ADNOC) is looking to expand its production capacity by the end of next year from 3 million barrels per day to 3.5 million barrels per day....
Venezuela crisis is the hidden consequence of Saudi Arabia's oil price war
Aug 08, 2017 15:04 pm UTC| Insights & Views
Venezuela is sinking ever deeper into a political and economic calamity. Inflation is above 700% and GDP is more than a third below 2013 levels. The country with the worlds largest proven oil reserves is now the worlds...
Aug 08, 2017 10:44 am UTC| Commentary
Saudi Arabia is set to reduce oil supplies to its customers by more than half a million barrels per day in September, according to industry sources familiar with the matter. After promising to cut production by 486,000...
Oil in Global Economy Series: US operating rigs rise for 26th time in 28 weeks
Jul 31, 2017 09:51 am UTC| Commentary
Last weeks report from Baker Hughes shows that operating oil rigs rose for the 26th time in 28 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the U.S....
Oil in Global Economy Series: OPEC review committee’s pledge fails to lift bearish sentiment
Jul 25, 2017 10:33 am UTC| Commentary
After concluding yesterdays review committee meeting, Saudi Arabia, the de-facto oil export leader of the OPEC pledged further support to boost oil price by bringing supply and demand into balance. Saudi Arabia pledged to...
Oil in Global Economy Series: US operating rigs decline for 2nd time in 27 weeks
Jul 24, 2017 10:26 am UTC| Commentary
Last weeks report from Baker Hughes shows that operating oil rigs declined for the second time in 27 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the...
Jul 24, 2017 08:48 am UTC| Commentary
As the compliance within the OPEC slipping, the oil production from the OPEC cartel is set to rise for a third consecutive month in July, according to a report by oil consultancy firm, Petro-Logistics. After declining by...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight