OPEC
OPEC Articles
The 12 members of the Organization of Petroleum Exporting Countries (OPEC) produce an average of 31.26 million barrels/day of crude oil in March according to a survey of analyst, industry executives,...
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At a meeting in mid-December, members of the Organization of Petroleum Exporting Countries (OPEC) agreed on a new production level of 30 million barrels/day. The 12-member cartel has already exceeded...
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The Organization of the Petroleum Exporting Countries probably intends to hold production among its members at current levels. That is good news for oil importing nations and consumers and...
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At the triennial World Petroleum Congress in Qatar, a handful of representatives from Middle Eastern OPEC nations have indicated that their countries are beginning to take steps to reduce their own...
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There is no shortage of prognostication on the world’s oil supply out to somewhere around 2035. The major public forecasts come from the US Energy Information Administration, the International...
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One day after OPEC released its monthly oil market report, the International Energy Agency published its monthly report. The two agree on most things, but differ on details. Most important, both see...
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Crude oil prices rose about 3% yesterday primarily on the news that the France and Germany would do something to shore up their banks. Equities also rose by about the same amount, with the S&P...
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Worries over the global economy have been keeping a lid on oil prices, which have dropped back to levels last seen at the beginning of the year. WTI crude is now up slightly at just over $87/barrel...
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Yesterday’s crashing market sent crude oil to its lowest close in eight months. WTI crude fell even further this morning, to below $76/barrel before turning around to rise above $82/barrel at...
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In its July Market Report, OPEC predicts that demand for crude oil will rise by 1.32 million barrels/day in 2012. The International Energy Agency is predicting an increase of 1.5 million barrels/day....
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August oil futures quoted on NYMEX moved just shy of $100 this week. That number was $90 in late June. No amount of crude released from strategic oil reserves or a belief that demand in China will...
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OPEC decided not to change its production targets after bickering among its members. Crude prices rose above $100 on the news. There are worries that any sign of increased global consumption tied...
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Updated throughout the day Goldman Sachs (NYSE: GS) may make a public attack on Senate charges about its behavior before the credit crisis (WSJ) Two senior JP Morgan (NXYSE: JPM) executives will...
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The IEA Governing Board warned yesterday that the world’s oil supply is too low to bring prices down on any consistent basis. It “expressed serious concern that there are growing signs that the...
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