for Oil Supply
Video: Saudi Arabian Energy Minister Khalid al-Falih’s Full Comments Before OPEC Ministerial Meeting
Saudi Arabian Energy Minister Khalid al-Falih comments on his expectations for an OPEC deal, cooperation from non-OPEC members, and timelines for market rebalancing.
Renewed political turmoil and the takeover of major oil terminals last month didn't stop Libyan oil production from tripling since August. How long will it last?
The substantive discussion gave insights into how energy policy would take shape in either a Clinton or Trump administration.
Right now, OPEC is revealing just how far from dead it really is, and realizing how much it can accomplish with words and meetings alone.
Lack of details announced alongside the new production cap reveals that many internal fissures persist. Those fissures didn't stop oil prices from rallying nearly 6 percent after the announcement.
SAFE's latest energy security fact pack shows how the oil market is rebalancing more slowly than any expected, with underwhelming demand and supply side reactions leaving prices volatile and stocks brimming.
The second quarter saw a remarkable plunge in refining margins, taking away the one source of comfort for the integrated oil majors.
As of June, Nigeria had lost 500,000 to 600,000 barrels per day of oil production, vaporizing about $30 million of daily revenues for the country. The Nigerian government had already seen its oil revenues cut in half by the collapse of oil prices, but the loss of a substantial portion of its production has pushed the country into a state of crisis.
"What is lacking, particularly in the US, is a robust public conversation about breaking oil’s monopoly and replacing it with cleaner transportation energy."
A number of supportive elements should keep a floor under prices, while the market will be capped by the ongoing oversupply. For the time being, oil markets are set to remain volatile and range-bound with many competing factors pushing prices in both directions.