Showing results for "2 march"

A challenging 2019 second half awaits OPEC+

  • Even if OPEC+ has a highly probable rollover of 1.2 million barrels per day (bpd) output cuts for the second half of 2019, as agreed at the G20 Summit by Saudi Arabia and Russia, the next six months will still be challenging.  The resumption of the trade talks between the US and China ma...
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Analyzing Bloomberg’s interview with the crown prince

  • Over the past year, Crown Prince Mohammed bin Salman has given a number of interviews with international media to explain the changes happening in the Kingdom. One of the most viewed was an interview last March with the CBS news program, “60 Minutes.” This was his first interview with an Americ...
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Aramco investors in safe hands during a crisis

  • The collapse of oil prices had a devastating impact on the earnings of many international oil companies during the first quarter of the year. Brent crude averaged $32 in March while April was even worse at just $18 per barrel.  This suggests that the second quarter may be more difficul...
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Asking OPEC+ to pump more is not always right approach

  • For a US president to ask OPEC, and now OPEC+, to pump more crude at a time of high gasoline prices at the pump is not something new. Donald Trump, for example, approached OPEC for first time in April 2018, after 16 months in office, when the price of West Texas Intermediate (WTI) crude was a...
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Brent approaching $50: Will it change OPEC+ output strategy?

  • OPEC+ producers have shown great flexibility in adapting their output cuts scenario as the market dictates. Such flexibility may again come into play as the group considers whether to agree a three-month extension to the current 7.7 million barrels per day (bpd) of output cuts as they prepare t...
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Coronavirus outbreak tests shale before it tests OPEC

  • With four years of experience in reaching consensus among the members of the OPEC+ group of oil exporters, it is not hard to imagine that group extending or deepening such cuts to mitigate the impact of the coronavirus outbreak impact on the global economy. This was clear during the extraordi...
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Exemptions to have little bearing on oil cuts impact

  • The cooperation between OPEC’s 15 members and a group of non-OPEC nations led by Russia, known as OPEC+, is set to enter its third year after an agreement was reached in Vienna last week.  Global oil markets were refreshed after OPEC+ reached the agreement for an output cut of 1.2 millio...
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From Tehran to Tripoli, Turkey is at the heart of illicit crude trade

  • Turkey has long led the way in the smuggling of crude oil. That is why it was no surprise when the latest export data based on ship tracking showed that Ankara imported half of the sanctioned Iranian crude oil in June — the remainder going to China. The China imports are accounted for by long...
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Gas production no longer a dilemma for Saudi Arabia

  • Saudi Aramco’s Wasit Gas Plant. (Reuters) In 2014, the World Energy Council reported that Saudi Arabia was the world’s fifth largest consumer of natural gas, making up over 40 percent of its energy sources. The number has only gone up. Currently, it is around 50 percent, and is...
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How the IEA overplays the US shale revolution

  • Mohammed Barkindo, the Secretary General of OPEC, speaks at the CERAWeek by IHS Markit conference discussing cooperation with the shale industry, in Houston, Texas, US, March 11, 2019. (Reuters) Oil prices last week rose to 2019 highs as a result of the tightening oil market that reflec...
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