Tuesday, November 3, 2020
Maritime News

OPEC Boosts Output Despite COVID Sending Oil Crashing

By Grant Smith and Julian Lee (Bloomberg) OPEC’s effort to shore up world oil markets during the pandemic is facing a new threat — from the group’s own rising production....

November 3, 2020
Total Views: 24

Monday, July 20, 2020
Maritime News

Oil Tanker Titans to Get Little Joy From OPEC+ Opening the Taps

By Ryan Hesketh (Bloomberg) –At almost any other moment in history, the promise of oil producers pouring millions of barrels of crude to the global market would have been cause...

July 20, 2020
Total Views: 4

Tuesday, June 30, 2020
vlcc tanker
Maritime News

Saudi Arabia Makes Good on OPEC+ Oil Cuts

(Bloomberg) — Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June. Observed Saudi crude exports for this month fell...

June 30, 2020
Total Views: 12

Monday, June 1, 2020
oil tanker loading
Maritime News

Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain Rally

By Olivia Raimonde and Hailey Waller (Bloomberg) — OPEC+ and its allies will decide as soon as this week whether or not to extend their historic output curbs, yet how...

June 1, 2020
Total Views: 7

Monday, April 13, 2020
oil storage tanks
Maritime News

Oil Price War Ends With Historic OPEC+ Deal to Slash Output

By Javier Blas, Salma El Wardany and Grant Smith (Bloomberg) — The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting...

April 13, 2020
Total Views: 8

Tuesday, December 11, 2018
vlcc tanker
Maritime News

Oil Tanker Owners Find Solace in Shale as OPEC Prepares New Cuts

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...

December 11, 2018
Total Views: 17

Monday, December 3, 2018
qatar lng ship
Maritime News

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...

December 3, 2018
Total Views: 4

Monday, December 11, 2017
nuclear icebreaker convoy
Maritime News

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...

December 11, 2017
Total Views: 1

Thursday, May 25, 2017
News

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...

May 25, 2017
Total Views: 0

Thursday, April 20, 2017
oil tankers
News

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...

April 20, 2017
Total Views: 9

Thursday, December 8, 2016
oil tanker
Maritime News

Oil Tanker Market Heads for Worst Year Since ’13 on OPEC Cut

By Firat Kayakiran and Brian Wingfield (Bloomberg) — Oil-hauling supertankers are bracing for the worst earnings year since 2013 as they become collateral damage in OPEC’s quest to trim a global...

December 8, 2016
Total Views: 7

Wednesday, December 7, 2016
barents sea drilling
News

OPEC Deal Seen Helping Norway Oil Investment as Soon as 2017

By Mikael Holter (Bloomberg) — Norway has this year politely declined invitations from OPEC to join talks on curbing oil production. Its strategy is now paying off. Western Europe’s biggest...

December 7, 2016
Total Views: 2

Monday, December 5, 2016
Maritime News

Kemp: After Two Years, Why an OPEC Deal Now?

By John Kemp LONDON, Dec 5 (Reuters) – OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement...

December 5, 2016
Total Views: 0

Friday, December 2, 2016
offshore oil rig Statoil
Maritime News

Brent Heads for Biggest Weekly Advance Since 2009 on OPEC Pact

By Rakteem Katakey (Bloomberg) — Brent crude is headed for its biggest weekly gain since 2009 after OPEC approved its first supply cut in eight years, with attention now shifting...

December 2, 2016
Total Views: 1

Thursday, December 1, 2016
News

New Era for Oil Reverberates Through Asia’s Shipyards to Runways

By Emma O’Brien and Heesu Lee (Bloomberg) — While the first OPEC production cuts since 2008 were inked as Asia slept, the winners and losers from the surprise deal are...

December 1, 2016
Total Views: 0

Wednesday, November 30, 2016
Interesting

OPEC Confounds Skeptics, Agrees to First Oil Cuts in 8 Years

By Nayla Razzouk, Angelina Rascouet and Golnar Motevalli (Bloomberg) — OPEC confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years....

November 30, 2016
Total Views: 2

Thursday, November 10, 2016
Maritime News

IEA Sees Global Oil Glut in 2017 if No OPEC Cut

By Amanda Cooper LONDON, Nov 10 (Reuters) – The oil market surplus may run into a third year in 2017 without an output cut from OPEC, while escalating production from...

November 10, 2016
Total Views: 0

Monday, August 29, 2016
Offshore News

Exploratory Drilling Hits 70-Year Low Water Mark

by Mikael Holter (Bloomberg) Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll probably find even less, spurring new fears...

August 29, 2016
Total Views: 14

Monday, August 17, 2015
Maritime News

Oil Just Fell to Its Six-Year Low

  By Mark Shenk (Bloomberg) — Oil closed at the lowest level in more than six years in New York amid speculation that demand may slip as economies slow, and...

August 17, 2015
Total Views: 0

Tuesday, June 2, 2015
News

What’s OPEC Going to Do With Iran’s Million Barrels a Day?

by Anthony Dipaola & Grant Smith (Bloomberg) Just when it looked like OPEC was winning the war with U.S. shale-oil drillers, a new front is opening up within its own...

June 2, 2015
Total Views: 0