Non-OPEC

Global Markets: Saudi-Russian Cooperation Marks New World Order For Oil

Posted on October 8, 2018 by Mozambique Resources Post

Global oil prices are continuing their upward trajectory amid concerns that more Iranian barrels will be removed from the market once U.S. sanctions hit the country’s energy sector Nov. 4. Oil market jitters are also being exacerbated by supply disruption problems in Venezuela, Nigeria and Libya—all OPEC members.

Global Oil & Gas: “Oil Producers Should Not be Influenced by Calls to Boost Output” – Iraq Oil Minister

Posted on June 13, 2018June 13, 2018 by Mozambique Resources Post

Iraq’s oil minister said producers should not be influenced by pressure to pump more oil and unilateral decisions on output could be a breach of a supply cut pact between OPEC and non-OPEC countries, leading to its possible collapse. Iraq’s oil minister said on Monday producers should not be influenced by pressure to pump more oil and unilateral decisions on output could be a breach of a supply cut pact between OPEC and non-OPEC countries,…

Global Markets: “Risk of OPEC, NOPEC Output Deal Compliance Slippage Increases” – Analysts

Posted on May 16, 2018 by Mozambique Resources Post

The OPEC, non-OPEC production cut deal will hold in its current form until December 2018, but the risk of compliance slippage has materially increased with U.S. President Trump’s decision to withdraw from the Iranian nuclear accord.

OPEC/non-OPEC Output Cut Deal Could Fall Apart in 2018, Here is Why

Posted on February 15, 2018 by Mozambique Resources Post

U.S. crude oil production continues to grow, and it continues to surprise everyone on its accelerating growth momentum to the fact that many oil market watchers, including the Energy Information Administration (EIA) and Organization of Petroleum Exporting Countries have revised their forecasts for U.S. crude oil production growth multiple times to accommodate the increasing growth potential in U.S. crude oil output.

Global Oil & Gas: After Abu Dhabi, OPEC expects major adherence on its oil cut pact

Posted on August 10, 2017August 10, 2017 by Mozambique Resources Post

OPEC expects greater adherence to its pact with non-OPEC producers to cut oil output after two days of meetings in Abu Dhabi aimed at boosting compliance with the accord, as reported by Reuters news agency.

Global Oil & Gas: OPEC And Non-OPEC To Discuss Cut Extensions in Vienna

Posted on April 21, 2017 by Mozambique Resources Post

The members and non-members of OPEC that participated in the global agreement to reduce oil production in November will be meeting on May 25th – the day of the bloc’s planned summit in Vienna, sources in-the-know told Reuters.

Global Oil & Gas: OPEC, Non-OPEC Agree First Global Oil Pact Since 2001 – Reuters

Posted on December 12, 2016 by Mozambique Resources Post

OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.

Global Oil & Gas Industry: IEA sees low oil price triggering largest cut in non-OPEC supply in more than 2 decades

Posted on September 16, 2015 by Mozambique Resources Post

The International Energy Agency (IEA) said Friday that the low oil price is likely to trigger the largest cut in non-OPEC supply in more than two decades. The latest tumble in the price of oil, which hit a six-year low in August, is expected to cut non-OPEC supply in 2016 by nearly 0.5 million barrels per day (mb/d) – the biggest decline in more than two decades, the IEA Oil Market Report for September informed subscribers.