Oil Production Cuts Could Result in 600,000 Barrel Per Day Global Deficit in...
We finally have some details on the secondary agreement to cut oil production that came out of that meeting of Russia and other non-OPEC oil producers last Saturday. That agreement is projected to...
View ArticleDespite OPEC Cuts, Global Glut Grows A Million Barrels a Day
Last week saw the release of the OPEC Monthly Oil Market Report for February (pdf), which covers global oil data for January. It's the production data in that report, not the IEA estimates that we...
View ArticleHalf million barrel per day global oil surplus persisted in February
Since oil pricing, and hence the industry's plans for new oil field exploitation in the US, is still largely dependent on what OPEC does, we'll start by looking at the new OPEC Monthly Oil Market...
View ArticleOPEC cuts still not reducing global oil glut, and they know it
Since the OPEC production cuts are the main factor underpinning oil prices, and hence the ongoing increases in US drilling, we'll start by taking a quick look at OPEC May Oil Market Report (covering...
View ArticleOPEC oil output at a 6 month low; global oil output at a 12 month high
We’re going to start by reviewing OPEC's December Oil Market Report (covering November OPEC & global oil data), which was released on Wednesday of last week, and which is now available as a free...
View ArticleOPEC's February Oil Market Report showed that the global oil glut is growing...
Since the media largely missed what the data from OPEC's February Oil Market Report (covering January OPEC & global oil data) actually showed, and since Saudi jawboning about oil supply and demand...
View ArticleOPEC report shows July's global oil output was two million barrels per day...
This week we're going to review OPEC's August Oil Market Report (covering July OPEC & global oil data). As you’ll see, it shows there was a large shortfall in the amount of oil produced in July, a...
View ArticleMarch global oil surplus at 17.7 million barrels per day; 2nd qtr surplus to...
Thursday of this past week saw the release of OPEC's April Oil Market Report, which gives us a picture of the global oil supply & demand situation in March, after the breakdown of OPECs agreement...
View ArticleGlobal oil output surplus was at 8.6 million barrels per day in May, despite...
Wednesday of this past week saw the release of OPEC's June Oil Market Report, which covers OPEC & global oil data for May, and hence it gives us a picture of the global oil supply & demand...
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