Global Oil & Gas: After Abu Dhabi, OPEC expects major adherence on its oil cut pact

Oil Africa Fuel

OPEC expects greater adherence to its pact with non-OPEC producers to cut oil output after two days of meetings in Abu Dhabi aimed at boosting compliance with the accord.

OPEC expects greater adherence to its pact with non-OPEC producers to cut oil output after two days of meetings in Abu Dhabi aimed at boosting compliance with the accord, as reported by Reuters news agency. Continue reading

Global Oil & Gas: Libya sends OPEC Oil Output To 2017 High

OPEC oil output has risen this month by 90,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, led by a further recovery in supply from Libya, one of the countries exempt from a production-cutting deal. Continue reading

Global Oil & Gas: OPEC Moves To Cap Nigerian Oil Output, Boost Compliance

 

 

compliance

OPEC call on members to boost compliance

 

OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices as reported by Reuters. Continue reading

On Rigzone: All Eyes On OPEC’s Epic Pursuit of Oil Price Stability

oil moneyContrary to some conventional wisdom, it’s not necessarily overzealous shale players in North America throwing off the supply and demand balance that’s rocked crude oil prices during the last two years. Continue reading

Global Industry: OPEC Over-Delivers on oil cuts, but rivals output up

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Offshore Oil rig

OPEC cut oil output in March by more than pledged under a supply reduction deal and said oil inventories had fallen in February, suggesting that its effort to clear a supply glut that has weighed on world oil prices is succeeding. Continue reading

Global Oil & Gas: Oil output falls from record highs

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Oil output down

A newly released survey by Reuters indicates that OPEC oil output in December fell from its record high – for the first time since May – falling to 34.18 million barrels per day, down from 34.38 million in November. This is supported by a tweet from a Wall Street Journal reporter that the Saudis have already cut output to honor the OPEC pledge. Continue reading