Insight

OPEC Nearing Deal To Extend Oil Output Cut To March 2018

OPEC meets in Vienna on May 25 to consider whether to prolong the accord reached in December in which OPEC and 11 non-members agreed to cut oil output by about 1.8 MMbbl/d in the first half of 2017.

May 24 2017 - 10:40am

EIA: US Crude Inventories Slump Amid Near Record Refining

U.S. crude oil inventories fell for the seventh straight week as refiners processed a near record amount of crude last week, the EIA said May 24, even as gasoline and distillate stockpiles also dipped.

May 24 2017 - 11:10am

Oil Prices Rise As Market Awaits Extended OPEC Cuts

Both crude benchmarks have gained more than 10% from their May lows below $50 per barrel, rebounding on a consensus that OPEC and other producers will maintain strict limits on oil production.

May 24 2017 - 7:05am

OPEC, Non-OPEC Hold Informal Talks To Nail New Oil Cuts

OPEC and non-OPEC ministers meet for informal consultations in Vienna on May 24 in a last-ditch bid to agree on the duration of oil output cuts.

May 24 2017 - 7:00am

Trump Budget Seeks To Halve Oil Stockpile, Open Arctic Refuge To Drilling

Trump's White House wants to sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of plans to balance the budget over the next 10 years.

May 23 2017 - 7:25am

Saudi Arabia, Iraq Agree Oil Output Cut Needs Extension

Saudi Energy Minister Khalid al-Falih said he did not expect any opposition within OPEC to extending the curbs for a further nine months, speaking after he met his Iraqi counterpart in Baghdad.

May 22 2017 - 12:10pm

Hart Chart: OPEC Revenues Plummet To 12-Year Low

Ahead of OPEC’s May 25 meeting, the U.S. Energy Information Administration noted the hole that the oil price downturn has opened in member nations’ pockets.

May 22 2017 - 11:20am

OPEC On Course Toward Supply Cut Extension

OPEC and other oil producers are on course to agree on an extension of supply cuts at a meeting on May 25, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut.

May 22 2017 - 8:00am

Supply Shortfall Outlook Swings Focus To Deep Water, Oil Sands

Some countries may be better positioned to attract investment to meet future demand, according to a global risk consultancy.

May 17 2017 - 1:39pm

EIA: US Crude Oil Inventories Fall For Sixth Straight Week

The U.S. Energy Information Administration said May 17 that crude inventories fell 1.8 million barrels for the week to May 12, compared with expectations for a decrease of 2.4 million barrels.

May 17 2017 - 11:55am

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