Opec

Persistently low crude oil prices haven’t spurred rising demand for petroleum products and have begun to impact the global economy, the Organization of the Petroleum Exporting Countries (OPEC) said Wednesday.

U.S. crude oil prices slumped below $40/bbl on Friday after OPEC sidestepped action to curb output levels, despite a saturated market.

After a seven year absence, Indonesia will reportedly rejoin the Organization of the Petroleum Exporting Countries (OPEC) in December.

U.S. crude oil and natural gas liquids production in 2016 may reverse for the first time in years, OPEC said Monday in its monthly forecast report, a reverse from what analysts predicted one month ago.

The Organization of the Petroleum Exporting Countries (OPEC) said U.S. oil production “has shown signs of slowing,” and it projects that the total amount of oil produced outside the 13-nation cartel in 2016 will grow by only 160,000 b/d, due in part to production slowing in the United States.

Unremarkable commodity prices have done little to dull the ability of U.S. unconventional explorers to extract ever more resources from the ground, but OPEC’s decision to maintain current output levels may put more pressure on domestic production levels in the months ahead.

Unremarkable commodity prices have done little to dull the ability of U.S. unconventional explorers to extract ever more resources from the ground…

U.S. shale oil breakevens have fallen by $20/bbl in one year and may decline more on field efficiencies, resulting in a duel with OPEC for market share, while the rest of the industry fights for relevance, according to Goldman Sachs.

U.S. shale oil breakevens have fallen by $20/bbl in one year and may decline more on field efficiencies, resulting in a duel with OPEC for market share…