OPEC

Global Markets: OPEC Sees Slower 2019 Oil Demand Growth

Posted on by Mozambique Resources Post
Global Markets: OPEC Sees Slower 2019 Oil Demand Growth

(Reuters) – OPEC on Wednesday further trimmed its forecast for 2019 global oil demand growth and said the risk to the economic outlook was skewed to the downside, adding a new challenge to the group’s efforts to support the market next year.

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Global Markets: OPEC wants to finalize cooperative agreement in December

Posted on by Mozambique Resources Post
Global Markets: OPEC wants to finalize cooperative agreement in December

A joint panel of OPEC and non-OPEC representatives will discuss next Tuesday how the group could distribute among them the 1 million bpd production increase that was agreed in June Reuters reported on Friday, citing sources familiar with the plans.

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Global Markets: “Oil Demand To Hit 100 MMbpd Sooner Than Projected” – OPEC’s Barkindo

Posted on by Mozambique Resources Post
Global Markets: “Oil Demand To Hit 100 MMbpd Sooner Than Projected” – OPEC’s Barkindo

(Reuters) – World oil consumption will reach 100 million barrels per day (MMbpd) later this year, hitting that level much sooner than previously forecast, OPEC’s secretary-general said on Wednesday.

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Global Markets: OPEC To Discuss Compensating For Iranian Supply Drop After US Sanctions

Posted on by Mozambique Resources Post
Global Markets: OPEC To Discuss Compensating For Iranian Supply Drop After US Sanctions

OPEC will discuss in December whether producers can compensate for a sudden drop in Iranian oil supply after U.S sanctions against Tehran start in November, the head of Iraq’s state-oil marketer SOMO, Alaa al-Yasiri, told Reuters on Wednesday.

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Global Markets: A Saudi-Iran Oil War Could Break Up OPEC

Posted on by Mozambique Resources Post
Global Markets: A Saudi-Iran Oil War Could Break Up OPEC

When OPEC and Russia shook on increasing crude oil production by a million barrels daily to stop the oil price climb that had begun getting uncomfortable for consumers from Asia to the United States, there was no sign of what was to come just two months later: slowing demand in Asia, ample supply, and a brewing price war between Saudi Arabia and Iran.

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Global Markets: “OPEC July Oil Output Hits 2018 Peak, But Outages Weigh” – Reuters survey

Posted on by Mozambique Resources Post

(Reuters) – OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran and Libya limited the increase.

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