Oil in Global Economy Series: Saudi Arabia not so optimistic on oil price
Dec 23, 2016 10:10 am UTC| Commentary
From forecasting point of view, Saudi Arabia, which just reached a deal to cut its production to 10.065 million barrels in January next year from 10.625 million barrels per day in October this year along with other...
Natural gas to become primary fuel for power generation this year for first time ever
Dec 23, 2016 05:52 am UTC| Commentary
According to thelatest post from US Energy information Administration (EIA), natural gas is set to become the primary fuel to generate power for the first time ever in 2016. For decades, coal has been the dominant energy...
Iraq may delay implementation of promised oil cuts
Dec 20, 2016 15:56 pm UTC| Commentary
Iraqs state-owned oil marketing company SOMO in an announcement to its customers said that it plans to make oil production cuts during the first half of 2017. There was no mention anywhere that it will cut output by...
Why OPEC's gambit to raise oil prices might not work
Dec 12, 2016 04:48 am UTC| Insights & Views
After months of speculation by oil market watchers, the Organization of the Petroleum Exporting Countries (OPEC) recently announced a six-month production cut of 1.2 million barrels per day (b/d) with the aim of driving up...
Oil benchmarks rise as non-OPEC reaches agreement
Dec 12, 2016 04:13 am UTC| Commentary
The global oil benchmarks, the North Sea Brent (Brent) and the West Texas Intermediate (WTI) have reached the highest level in more than 16 months as non-OPEC countries officially reached a production cut agreement over...
Oil in Global Economy Series: Oil price level for OPEC to compensate production cuts
Dec 09, 2016 12:23 pm UTC| Commentary
The OPEC countries reached a deal to cut production by 1.2 million barrels per day effective from January next year, hoping that such a move would stabilize the oil market and increase the overall revenue by increasing the...
Oil prices rise likely to touch $57 per barrel next year, says Nordea Bank
Dec 09, 2016 11:33 am UTC| Commentary
Next year, oil prices are likely to rise. After OPEC began the supply/demand rebalancing process, oil prices are expected to increase to USD 57 per barrel next year and to USD 62 per barrel in 2018 after being range bound...
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