Tag / Opec

Subscribe

Opec

U.S. Should Embargo Russian, OPEC Oil, Says North Dakota Senator

U.S. Should Embargo Russian, OPEC Oil, Says North Dakota Senator

The United States should embargo oil from Russia and Organization of the Petroleum Exporting Countries (OPEC) nations in response to their efforts “to distort energy markets,” according to Sen. Kevin Cramer (R-ND).

March 20, 2020

The Offtake: LNG in Brief

A roundup of news and commentary from NGI’s LNG Insight

March 11, 2020
U.S. Shale Industry ‘No. 1 Target in Russia’s Crosshairs,’ Says Yergin

U.S. Shale Industry ‘No. 1 Target in Russia’s Crosshairs,’ Says Yergin

Energy industry guru Daniel Yergin, the vice chairman of IHS Markit who annually leads CERAWeek in Houston, said Wednesday the world oil market has become a “free-for-all” after an oil production alliance between the Saudi-led cartel and Russia collapsed last week.

March 11, 2020
Oil Patch Leads U.S. Rig Count Higher as Crude Price Uncertainty Looms

Oil Patch Leads U.S. Rig Count Higher as Crude Price Uncertainty Looms

A modest uptick in the oil patch, and in the Permian Basin in particular, drove a three-rig increase in the U.S. rig count for the week ended Friday (March 6), according to the latest data from Baker Hughes Co. (BKR).

March 6, 2020
OPEC Calls for Bigger Oil Production Cut Through Midyear, with Overall Reductions Through 2020

OPEC Calls for Bigger Oil Production Cut Through Midyear, with Overall Reductions Through 2020

In another sign of the impact on energy demand from the worldwide coronavirus, the Organization of the Petroleum Exporting Countries (OPEC) on Thursday recommended that members reduce global crude output through the end of the year, with an additional adjustment through June.

March 5, 2020

OPEC Cuts Said Unlikely to Solve ‘Fragile’ Oil Price Floor, Looming Oversupply

The global oil cartel and its allies earlier this month agreed to increase their oil production cuts beginning with the new year, but those reductions are unlikely to resolve a massive oversupply, according to Rystad Energy.

December 24, 2019

OPEC, in Rebuke to Trump, Agrees to Cut More Oil Output to Prop Up Prices

The Organization of the Petroleum Exporting Countries, aka OPEC, and its Russian-led allies on Friday agreed to further reduce global oil output in an attempt to balance an overflowing market and stem falling prices.

December 7, 2018
Qatar Exiting OPEC to Focus on Global LNG Development

Qatar Exiting OPEC to Focus on Global LNG Development

Qatar announced Monday that it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC) to keep its focus on liquefied natural gas (LNG), its main export product.

December 3, 2018
OPEC Warns Permian Constraints to Reduce Output but Still Likely Uptick in U.S. Supply

OPEC Warns Permian Constraints to Reduce Output but Still Likely Uptick in U.S. Supply

Even with global disruptions and increased demand, global oil supply in 2019 beyond the Organization of the Petroleum Exporting Countries (OPEC) is expected to be broadly unchanged from this year, mostly because of an expected uptick in North American output and project startups in Brazil.

July 13, 2018

OPEC Chief Praises Canada’s Unconventional Oil, Gas Revolution

Unconventional drilling drew unexpected praise Tuesday from a surprise source — the Organization of the Petroleum Exporting Countries (OPEC).

July 11, 2018