Demand for OPEC crude to fall by 200,000 bpd
OPEC's annual report for 2015 revealed that the oil producing cartel anticipates a drop in demand for its oil by 2020. Despite low prices, shale oil is set to play a significant role in the future energy mix, according to the report.
Oil producers conform by 86 pct to OPEC production cut pledge
The Organisation of Petroleum Exporting Countries (OPEC) said the group's members and non-OPEC countries have complied by a record 86 per cent in the first month to the pledges made late last year to prop up oil prices by eradicating a supply glut.
OPEC said committee to review extending oil cut deal
The Joint OPEC and non-OPEC Ministerial Monitoring Committee (JMMC) agreed in Kuwait to review whether their deal of production cuts should be extended for another six months after reporting a conformity of 94 per cent so far this year, OPEC said.
Restoration of oil market stability -OPEC
Pipeline Magazine spoke exclusively to His Excellency Mohammad Sanusi Barkindo, Secretary General, Organization of the Petroleum Exporting Countries (OPEC) about his new role as head of OPEC and plans to restore market stability
OPEC Imperium vs Shale Empire
Faced by shrinking natural resources is it perhaps time that OPEC and its Shale rivals consider a more collaborative approach to competition?
OPEC agrees to a production cut
Last week OPEC defied its doubters when it agreed to its first production cut, of 1.2 million bpd, in eight years with OPEC members in Vienna making good on the promise they made in Algiers back in September.
OPEC makes good on cutting output
OPEC released its latest monthly oil market report that showed a drop of 890 kbpd in January production levels showing that OPEC members are making cuts quicker than expected.
OPEC and non-OPEC members agree to oil cut deal
OPEC and non-OPEC members signed on Saturday their first deal since 2001 to curb oil production to reduce a glut that has pressured oil prices for nearly two years and strained budgets in some producing countries.
OPEC sees a more balanced market in 2016
OPEC in its latest monthly report has increased its forecasts for global oil demand next year that would outpace the growth of oil supply from both OPEC and non-OPEC sources.