US oil sector faces complicated path
A few US oil company CEOs have already sounded the alarm about a potential decline in production.
Tag: OPEC
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OPEC lifts 2026 oil demand view and trims supply growth from rivals
World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report
Africa can be long-term focal point for oil industry
Once energy security is achieved, Africa can play a greater global role as it builds out its downstream
Oil price of $80–95 per barrel could be new normal in 2024
Elevated oil prices may be here to stay for the medium-to-long term, but it would have to take extreme geopolitical risks to push prices into triple digits in the immediate future, according to Ole Hansen, head of commodity research at Danish investment bank Saxo Bank.
Nigeria loses N1.22tn to deficit oil production —Reports
Nigeria was unable to produce about 22.658 million barrels of crude oil valued at N1.22tn in the first quarter of this year due to its persistent inability to meet the crude oil production quota approved for the country by the Organisation of Petroleum Exporting Countries.
OPEC revises 2021 global oil demand to 5.7 mb/d
”Revisions were mainly to account for slower than anticipated demand from China and India in Third Quarter 2021.
OPEC fails to agree on February oil production output
Members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies, including Russia, yesterday failed to reach an agreement on production levels for February, with talks expected to continue today.
OPEC in trouble as oil outlook worsens
OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire, and some long-shuttered oil ports have been reopened, along with the fields that feed them.
Libya lifts Force Majeure on all oil exports
“Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done. We also must take steps to ensure Libya’s oil production is never again held to ransom,” Sanalla added.
Oil price crash leads to large drop in United States fixed investment
The drastic spending cuts across the U.S. shale patch due to the low oil prices will likely lead to a 6.1-percentage point slump in total U.S. fixed business investment.
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