ABUJA (Reuters) – The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria’s oil minister told Reuters.
Read more: http://tinyurl.com/je3h6xq
VIENNA—The Organization of the Petroleum Exporting Countries doesn’t see oil prices consistently trading at $100 a barrel again in the next decade, a pessimistic assessment that has the group considering the return of production limits to influence the market, according to people familiar with a recent strategy report.
Read more: http://tinyurl.com/p3ru6jx
OPEC has lowered its oil output further and is pumping less than this year’s global need for its crude, the exporter group said on Thursday, underlining the toll that outages in Libya and elsewhere are taking on production.
Read more: http://tinyurl.com/nm2yxbh
EDMONTON – OPEC nations are losing market share as North American supplies such from U.S. tight oil and Alberta oilsands rise sharply and more than meet the slowly growing world demand.
Read more: http://tinyurl.com/m2qdwlx
Texas oil production is surging, and estimates for 2014 predict that output of more than 2.7 million barrels per day will push the Lone Star State’s production above OPEC members Nigeria (2.524 bpd), Venezuela (2.489 bpd) and Algeria (1,875 million bpd.).
Read more: http://tinyurl.com/oppzvdc
The Organization of Petroleum Exporting Countries meets today with something new on its agenda – what to do about Iran? It’s unlikely the prospect of Iran agreeing to limit its nuclear activities to electricity-related endeavours – as happened in the past two weeks, and is something that would mean the end of the sanctions that have been imposed upon the country and severely restricted its economic growth – was on the radar at last May’s meeting.
Read more: http://tinyurl.com/oubrolb
Money Talks Michael Campbell interviews Josef Schachter, Canada’s leading independent energy analyst and founder of Schachter Asset Management
Read more: http://tinyurl.com/mm3us87
OPEC ministers put on a brave face when pressed about one of a number of growing threats to the cartel’s influence over world crude oil markets – surging shale oil production in the United States.
Read more: http://tinyurl.com/o2u8soc
OPEC oil exporters, basking in the market’s equilibrium, agreed to leave output policy unchanged on Friday as oil held around the group’s preferred level of $100 (U.S.) a barrel.
Read more: http://tinyurl.com/mc7le8c
While officials from members of the Organization of Petroleum Exporting Countries (OPEC) are set to meet in the Austrian capital of Vienna on Friday to discuss its production policy, some economists are questioning whether the cartel still carries sway in determining the global price of oil.
Read more: http://tinyurl.com/lwm2pga