Tag Archives: Oil Market

The US output is forecast to rise by 0.6 million b d and 1 million b d in 2017 and 2018. respectively. according to the report.

Saudi Arabia told OPEC it cut output to 10.01 million bpd last month. from 10.07 million bpd in June. meaning its production fell back below its OPEC target of 10.058 million bpd.

The meetings are being co-chaired by Kuwait and Russia. in the presence of representatives from Saudi Arabia. which is serving as president of OPEC for 2017.

It may be a challenge for Libya to maintain its current rate of exports.

In three out of five regions of the US the level of commercial stocks has reached the average 5 year'.s level.

Compliance with production cuts by members of the Organization of Petroleum Exporting Countries is excellent.

A rebalancing of the oil market is progressing more slowly than expected. but it will speed up in the second half of the year.

Russia will hold a ministerial meeting for several representatives of OPEC member states as well as a number of non-members in St. Petersburg towards the end of this month.

Currently. Iran’s oil output stands at 3.8 million barrels per day. despite numerous statements that the country reached its pre-sanction production level of 4 million bpd.

OPEC must increase output cuts aimed at shrinking a global glut with little public announcement in order to jolt investors.