Tag: output
OPEC building on success of oil output cuts – IEA
Current numbers for first quarter of 2018 imply a stock build of 0.8mb/d Over the last few months, questions lingered about whether OPEC producers were seriously committed to their agreement to cut output and balance the market, according to the International Energy Agency. While there may still be doubts about some of them, the market heavyweights have […]
Saudis, Russia to diverge on speed of oil output cuts – Kemp
By John Kemp LONDON (Reuters) – OPEC and non-OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day (bpd) in the first six months of 2017. Saudi Arabia and its Gulf allies are expected to implement most of their cuts immediately, but other producers […]
Texas wind generation output tops 17,000 MW in ERCOT region
More than 17,000 MW of installed wind generation capacity serving the ERCOT system Wind generation set a recently, providing more than 15,000 megawatts of the electricity used in the ERCOT region for the first time ever. Specifically, the ERCOT system used 15,033 MW of electricity from wind at 12:35 p.m. on Sunday, Nov. 27, representing […]
OPEC expected to deliver only half of target production cut – Kemp
By John Kemp LONDON (Reuters) – OPEC will achieve some but not all of the production cuts the organisation agreed last month, according to an informal survey of energy professionals conducted after the agreement was announced. Most energy professionals expect OPEC output will decline to around 33.0 million barrels per day in Jan. 2017, down […]
OPEC deal expected to tighten oil market in 2017: Kemp
Deal amounts to around 786,000 bpd of cuts pledged by Saudi Arabia and its allies, plus an uncertain cut amounts by non-core OPEC By John Kemp OPEC has reached an agreement to cut its oil output by almost 1.2 million barrels per day and been rewarded with an increase in nearby futures prices of around […]
Libya’s oil production shows signs of continued gains – Wood Mackenzie
Libya’s National Oil Corporation’s target of 900,000 b/d by end of year depend on ending blockade of western pipeline Wood Mackenzie’s latest study on Libya’s oil production shows the country’s output has doubled from 300,000 barrels a day in early Sept. to close to 600,000 barrels a day today, adding to the global oil supply glut. […]
FANTASY OPEC: the oil ministers’ game of skill and diplomacy for all the family
May the most skillful fantasy minister win! By John Kemp, Reuters energy analyst FANTASY OPEC ™ is a game of skill and diplomacy for 14 players, though it can be expanded to as many as 20 players if required with the addition of non-OPEC countries. The game begins with each player rolling five ordinary dice […]
OPEC plays the chicken game while oil prices fall: Kemp – Reuters News
No country wants to make OPEC concessions on output until a collective agreement on production allocations By John Kemp LONDON, Nov 11 (Reuters) – OPEC members are making the task of oil market rebalancing harder by maximising their production ahead of a ministerial conference at the end of Nov.. OPEC output is actually increasing, putting […]
OPEC Oct. output sets new record of 33.54 million b/d -Platts
Up 300,000 b/d from Sept. and 5th consecutive monthly increase Oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose to another record, at 33.54 million b/d in Oct., according to survey of OPEC and oil industry officials by S&P Global Platts. Recoveries in strife-torn Libya and Nigeria significantly boosted the organization’s output and more […]
OPEC cuts might have biggest impact in North America – Fitch
Fitch believes a substantial amount of shale oil production could be ‘turned on’ at a sustained $55-$60 level NEW YORK & CHICAGO- OPEC’s latest announcement may end up having the biggest regional impact in the US, given the high sensitivity the shale sector has to oil prices and any subsequent changes in oil pricing, according to […]
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