By Firat Kayakiran (Bloomberg) -- America’s shale boom could be about to spare the world’s oil tanker owners from a typical OPEC ravaging. The producer group and allies decided on Dec. 7 to restrict output from the start of next year by about 1.2 million barrels a day, adding to deeper cuts two years earlier. Under normal circumstances, that would be a dire turn of … [Read more...]
Qatar to Leave OPEC to Focus On Gas
By Eric Knecht DOHA, Dec 3 (Reuters) - Qatar said on Monday it was quitting OPEC from January to focus on its gas ambitions, taking a swipe at the group's de facto leader Saudi Arabia and marring efforts to show unity before this week's meeting of exporters to tackle an oil price slide. Doha, one of OPEC's smallest oil producers but the world's biggest liquefied natural … [Read more...]
The Arctic Threat to OPEC’s Grand Oil Price Strategy
By Julian Lee (Bloomberg Gadfly) -- When Saudi Arabia's oil minister attended Friday's grand opening of a giant liquefied natural gas plant in northern Siberia, he'd have known this was just part of a bigger energy story developing in Russia's icy north. It's not just gas that's a big deal there. Russia's Arctic oil flows are soaring too. These are not the putative offshore … [Read more...]
As the U.S. Sends More Oil to World, OPEC Sends Less to U.S.
By Serene Cheong (Bloomberg) -- OPEC is finally making the move that could help complete a mission that it’s failed so far: shipping less oil to the U.S., according to Sanford C. Bernstein. Exports from the Organization of Petroleum Exporting Countries to America have declined by close to 1 million barrels a day since a peak at the end of March, Bernstein analysts including … [Read more...]
Murky Oil Inventory Picture Leaves Market Grappling for Clarity
By Henning Gloystein and Libby George SINGAPORE/LONDON, April 21 (Reuters) - The jury is still out over whether an OPEC-led production cut aimed at tightening oil markets is working, or if the producer club has simply enabled higher prices without making much of a dent in the global fuel supply overhang. Analysts say there are early indications that at least some … [Read more...]