Oil in Global Economy Series: US oil production recovery continues to overwhelm
May 23, 2017 10:44 am UTC| Commentary
While the OPEC ministers are preparing to meet in their Vienna headquarter on Thursday, the financial market continues to get overwhelmed by the recovery in the US oil production since last July. The shale oil recovery...
Oil in Global Economy Series: Oil might suffer ‘buy the rumor, sell the news’
May 23, 2017 10:21 am UTC| Commentary
Presidents Trumps budget proposal to sell half of the United States strategic reserve which is around 688 million barrels over the next 10 years has pushed the oil price lower on Monday, however, the price remain upbeat...
OPEC oil supply cut deal likely to extend
May 18, 2017 23:10 pm UTC| Commentary
The deal between OPEC members and the 11 oil-producing nations outside OPEC is expected to be extended when OPEC meets on 25 May, noted Danske Bank in a research report. The recent comments from Russia and Saudi Arabia...
Oil in Global Economy Series: Low non-OPEC compliance contrasts with full-compliant OPEC
May 18, 2017 09:17 am UTC| Commentary
In November last year, OPEC producers agreed to a historic deal to cut production supplies by 1.2 million barrels per day, first such move since the Great Recession of 2008/09. In addition to that, 11 non-OPEC producers...
Oil in Global Economy Series: OPEC April deal compliance review
May 17, 2017 11:12 am UTC| Commentary
In November last year, when OPEC members agreed to cut production for the first time since the Great Recession, it was welcomed with great optimism and oil price jumped more than 20 percent, from $45 per barrel to as high...
Oil in Global Economy Series: Oil jumps after Saudi Arabia and Russia agrees to deal extension
May 15, 2017 05:33 am UTC| Commentary
Saudi Arabias oil minister Khalid al-Falih and the Russian energy minister Alexander Novak announced on Monday that the two of the biggest oil exporters in the world have agreed that the current supply reduction deal,...
Oil in Global Economy Series: Iran wants to expand production by 3 million barrels per day
May 09, 2017 07:18 am UTC| Commentary
Iranian Oil ministrys news service, Shana reported on Monday said that Iran plans to lift its production capacity by as much as 3 million barrels per day, which will be equivalent to an 80 percent production boost. Deputy...
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