OPEC Mining News

The technical failure that could clear the oil glut in a matter of weeks

OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines.

Is a second OPEC cut on the cards?

Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

The oil war is only just getting started

It's been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how U.S. shale is responding to fifty-plus-dollar oil with rebounding drilling activity.

Here’s what oil did the last time OPEC cut production

It finally happened. For the first time since 2008, the Organization of Petroleum Exporting Countries (OPEC) agreed to a crude oil production cut last week, renewing hope among producers and investors that prices can begin to recover in earnest after a protracted two-year slump, one of the worst in living memory.

OPEC's bearish report provides little hope for oil markets

OPEC has released a new market whammy, offering up the cartel’s production figures, which largely jive with figures reported by the IEA.

For how long can OPEC talk up oil prices?

Not a day passes without OPEC making oil and gas headlines, and today is surely no exception.

Oil soars 6% as OPEC reaches deal to limit output in November

Brent crude was up $2.76, or 6%, at $48.73 a barrel.

Oil sands industry to remain under siege until 2020 on low crude prices

The gloomy outlook comes as the International Energy Agency predicts crude oil won't reach $80 a barrel until at least the end of the decade.

IEA predicts huge collapse in US oil output next year

The agency believes U.S. tight oil supply will sink by nearly 400,000 barrels a day in 2016.

Iron ore and oil down to financial crisis levels

Iron ore and oil, for ages among the strongest commodities, are on course to end 2014 as the worst performing ones.

Rumors of OPEC's demise exaggerated

A mixed picture is starting to emerge from the Middle East in terms of oil production.

Can OPEC maintain high oil prices into the future?

OPEC is probably the single most powerful organisation in the oil industry, able to influence the price of oil to help its member states; however a review by Bassam Fattouh and Lavan Mahadeva of the Oxford Institute for Energy Studies suggests that whilst OPEC is able to influence prices in the short term, it has less success over the long term.