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OPEC

Bill threatens Polish wind power, warns industry

Hopes on the part of investors, oil companies and oil exporting nations for a negotiated “freeze” in global output melted away on Sunday after 16 major petroleum producers meeting in Doha, Qatar failed to reach an agreement, possibly setting the stage for further weakness in crude oil prices.

Source:  The Washington Post, 2016/04/17

By |April 19th, 2016|Categories: News|Tags: , , , , |

Any given Sunday?

This week-end news flow was intense in the energy business as many decisions were expected to be made all over the world regarding fossil fuel producers. But the outcome of last Sunday turns out to be rather unsurprising or, as the French saying goes, the mountain labored and brought forth a mouse. Let’s get back […]

By |April 18th, 2016|Categories: Analyst's Insight|Tags: , , , , , |

What do you know that we don’t, OPEC?

As you probably noticed all, the barrel price rebounded since mid-February, leading to a WTI crude rallying from USD 26.21/b (on Feb. 11th) to USD 41.50/b (on April 14th) and a Brent crude bouncing back from USD 30.06/b to USD 43.84/b. But in its Monthly Oil Market Report (MOMR) of April (see here), the OPEC […]

By |April 15th, 2016|Categories: Analyst's Insight|Tags: , , , , , |

Saudis Open to Oil-Production Freeze without Iran

Saudi Arabia, Kuwait and their allies would limit their oil output even if Iran doesn’t follow suit, OPEC officials said, a change in tone that paves the way for curbs on crude production to be set next month.

Source:  WSJ, 2016/03/16

By |March 22nd, 2016|Categories: News|Tags: , , |

The particular stance of Mexico in the oil game

Game’s on. Last week, many of the world’s top oil players attended and hosted the IHS CERAWeek in Houston. Microphones were on and it was about time to get further information on the major players’ opinions about the current market situation. Indeed, one of the most scrutinized talks was probably the Saudi oil minister Ali Ibrahim Al-Naimi’s comments after last week’s discussion between Saudi Arabia, […]

By |February 24th, 2016|Categories: Analyst's Insight|Tags: , , , , |

Long-Term Oil Price Assumptions (real 2014 US$/bbl)

Gaps exist between IEA and OPEC price projections for all IEA scenarios, except for the IEA 450 scenario for 2040. IEA’s Current Policies Scenario (CPS) assumes higher demand for oil and thus higher prices than in the New Policy Scenario (NPS) and the 450-ppm Scenario. The OPEC Reference price is estimated based on the cost […]

By |February 23rd, 2016|Categories: Graph Analysis|Tags: , , , |

Impact of oil price collapse on OPEC budgets

Budget balance as percentage of GDP, 2014

In 2014, as oil prices began to plummet, OPEC members Kuwait, Qatar, the UAE and Saudi Arabia ran healthy surpluses, while Angola, Algeria, Iran, Nigeria, Ecuador and (arguably) Iraq had small yet manageable deficits. Venezuela had an existing budget problem resulting mainly from economic mismanagement.

Budget balance as percentage of […]

By |February 2nd, 2016|Categories: Graph Analysis|Tags: , , , |

Russia refuses to rein in oil production in 2016

Russia is unlikely to coordinate with oil cartel OPEC to roll back oil production in order to prop up falling oil prices, the country’s energy minister Alexander Novak said on Friday. In fact, Russia is also set to keep production at record levels – following similar strategies by other oil producing states like Saudi Arabia […]

By |January 19th, 2016|Categories: News|Tags: , , , , |

Medium-term liquids supply and oil demand outlook in the OPEC’s Reference Case

Source: Organization of the Petroleum Exporting Countries. World Oil Outlook 2015. December 2015.

Source: Organization of the Petroleum Exporting Countries. World Oil Outlook 2015. December 2015.

By |January 5th, 2016|Categories: Graph Analysis|Tags: , , , |

Is the OPEC willingly blowing hot and cold?

Two weeks ago, we told you about the latest OPEC meeting in Vienna that ended up in a cacophony. Iran and Iraq both needing for the barrel price to go up but unable to reduce their own output, while Saudi Arabia is engaged in a kamikaze strategy (or at least a never-say-die one) that we […]