Tag Archives: International Energy Agency (IEA)

OPEC’s Secretary General has been a strong advocate of advancing dialogue and cooperation among producers and consumers.

The risk for OPEC and its allies is that this sort of market share is hard to recover once the self-imposed production cuts are lifted.

IEA in the Oil 2018 envisaged that excess global refining capacity would grow. but Asian refiners need more crude.

The US cannot become completely independent of foreign oil.

Libya was initially exempt from the OPEC production cuts together with Nigeria because of the violence in the two countries.

The EIA is forecasting US oil production will lift 14.8% to 10.70 million barrels per day this year.

The IEA expects Venezuela'.s crude output will fall to 1.38 million barrels per day (mb d) by the end of 2018.

The United States has been increasing its LNG deliveries to European Union countries.

The growing Chinese appetite for natural gas could justify new LNG export facilities investment in the United States.

In countries like Brazil and Mexico. the slowdown at old fields jumped to double-digit rates last year.