Oil in Global Economy Series

Oil in Global Economy Series

Oil in Global Economy Series: OPEC May deal compliance review

Jun 14, 2017 09:36 am UTC| Commentary

In November last year, when OPEC members agreed to cut production for the first time since the Great Recession, it was welcomed with great optimism and oil price jumped more than 20 percent, from $45 per barrel to as high...

Oil in Global Economy Series

Oil in Global Economy Series: Number of active oil rigs in U.S. rises for 21 straight weeks

Jun 12, 2017 08:29 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for 21 consecutive weeks, raising concerns that U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now a...

Oil in Global Economy Series

Oil in Global Economy Series: Numbers of active oil rigs in U.S. rise for 20th consecutive week

Jun 05, 2017 07:28 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for a 20th consecutive week, raising concerns that U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now a...

Oil in Global Economy Series

Oil in Global Economy Series: Oil price jumps on Middle East tension

Jun 05, 2017 07:13 am UTC| Commentary

While an agreement between the OPEC and N-OPEC countries last month to extend the current supply cut for another nine months until March 2018 aimed to reduce global oil supply by 1.76 million barrels failed to boost oil...

Oil in Global Economy Series

Oil in Global Economy Series: Lower oil price breaks many fundamental understandings over past years

Jun 02, 2017 10:16 am UTC| Commentary

The price of oil has continued its downward move despite an agreement between the OPEC and participating N-OPEC producers to extend the current supply cut agreement that aims to reduce global oil supply by 1.76 million...

Oil in Global Economy Series

Oil in Global Economy Series: Increased production efficiency in the United States poses threat to price recovery

Jun 01, 2017 07:45 am UTC| Commentary

Back in the summer of 2014 and throughout 2015, when the oil price was declining rapidly, it was thought that lower oil price would lead to very large declines in production from the United States, which at that time was...

Oil in Global Economy Series

Oil in Global Economy Series: Numbers of active oil rigs in U.S. rise for 19th consecutive week

May 29, 2017 06:16 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for a 19th consecutive week, raising concerns that U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now a...