The energy world may be looking to the Organization of the Petroleum Exporting Countries (OPEC) for price stability to gain confidence in future project investments, but in North America, a fragmented group of operators may not have the time or capital to focus on global supply cuts or temporary oil price improvements, according to analysts.
Opec
Articles from Opec
OPEC’s Oil Output Reduction Awaiting U.S. E&P Reaction
The Organization of the Petroleum Exporting Countries (OPEC) formally agreed Wednesday to its first global oil production reduction in eight years, announcing its members would cut output by 1.2 million b/d effective Jan. 1, which sent U.S. and Brent prices soaring for the day.
November 30, 2016
U.S. Shale Oil Producers Won’t Look Back if Prices Hit $60, Says IEA
Crude oil prices of “around $60” would be enough to trigger a big increase in U.S. drilling activity, the chief of the International Energy Agency said Tuesday.
October 11, 2016
Onshore OFS Market Reaches Nadir; Strongest Growth Ahead in North America, Says DW
The downturn in the onshore oilfield services (OFS) market should bottom this year, with expenditures of about $126 billion representing an industry nadir, researchers with Douglas-Westwood (DW) said Monday.
October 3, 2016
OPEC’s Tentative Agreement to Reduce Oil Output Still Needs Formal Vote
The 14-nation Organization of the Petroleum Exporting Countries (OPEC), which produces more than one-third of global crude oil output, reached a tentative agreement Wednesday to reduce output for the first time in eight years — to 32.5 million b/d from an August level of 33.24 million b/d.
September 28, 2016
OPEC Proposes First Oil Production Cut in Eight Years
Stung by continuing oversupply wrought by the U.S. unconventional revolution, the 14-nation Organization of the Petroleum Exporting Countries (OPEC) reached a tentative agreement Wednesday to reduce output for the first time in eight years — to 32.5 million b/d from an August level of 33.24 million b/d.
September 28, 2016
Drop in Oil Prices Cripples OPEC’s Net Oil Export Revenues, EIA Finds
The collapse in crude oil prices has decimated net oil export revenues for the Organization of the Petroleum Exporting Countries (OPEC) over the last three years, and the decline is expected to continue into 2016, according to the U.S. Energy Information Administration (EIA).
June 15, 2016
Long-Time Saudi Oil Chief Departs, But Energy Policy Said Unlikely to Change
Saudi Arabia on Saturday ousted longtime energy minister Ali Al-Naimi and promoted Khalid Al-Falih, who chairs the country’s national oil company, a move not expected to upend the country’s policy to allow markets — and not shut-ins — to rebalance prices.
May 9, 2016
Long-Time Saudi Oil Chief Departs, But Energy Policy Said Unlikely to Change
Saudi Arabia on Saturday ousted longtime energy minister Ali Al-Naimi and promoted Khalid Al-Falih, who chairs the country’s national oil company, a move not expected to upend the country’s policy to allow markets — and not shut-ins — to rebalance prices.
May 9, 2016
Fundamentals, Not OPEC Freeze, Likely to Stabilize Oil Prices, Say Experts
The failure to reach an agreement to freeze global oil production by the Middle Eastern-led oil cartel may play to the market fundamentals, but it also could lead to more U.S. bankruptcies as oil prices continue to decline, industry experts said Monday.
April 19, 2016
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