OPEC suggests oil supply freeze could continue ‘for months to come’
Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages.
oil supply
Oil to see monthly gain as supply risks escalate
Oil headed for a monthly gain as expectations that American sanctions on Iranian crude will tighten global markets outweighed the risk to demand from the ongoing U.S.-China trade dispute.
Saudi Arabia oil shipments to Egypt stopped ‘indefinitely’
Egypt has said oil shipments from Saudi Arabia to the North African country have been suspended indefinitely, according to a news report.
Oil pares biggest weekly drop since April
Oil pared the biggest weekly decline in more than two months as the dollar extended its retreat, increasing the appeal of commodities priced in the U.S. currency.
IEA sees a smaller global oil surplus than anticipated
The global oil surplus in the first half of this year will probably be smaller than previously estimated because of robust demand in India and other emerging nations, the International Energy Agency said.
Global oil demand easing says IEA
Growth in global oil demand will ease to around 1.2 million barrels per day (mb/d) in 2016, below the 1.8 mb/d expansion of last year, according to the International Energy Agency.
Oil explorers return to parking rigs as supplies build
Explorers once again idled drilling rigs in US. oilfields as crude inventories continue climbing, boosted by a surge in imports.
Oil glut continuing into 2017 – prices unlikely to rise says IEA
The influential International Energy Agency sees oil markets rebalancing in 2017 thanks to falling US production but the decline will prove short-lived as efficiency gains will push U.S. output to new records by the beginning of the next decade.
Rystad: oil glut could soon become oil shortage
Job cuts, lack of capacity and failure to invest in field development could lead to a oil supply shortage in coming years, according to research by oil and gas consultants Rystad Energy.
BP’s chief economist says carbon emissions concerns will curb world’s oil output
Concerns about the climate change impact of burning the world's remaining oil resources mean the reserves will never be fully exploited, BP chief economist Spencer Dale has said.
What nonsense about world oil supplies
As I write this, Brent crude is trading at about $130 per barrel. The price has doubled over the last year and quadrupled over the last three.