Green Car Congress
APRIL 10, 2015
OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. The EIA even predicts that OPEC’s net oil exports (excluding Iran) could fall to as low as $380 billion in 2015.
Green Car Congress
MARCH 6, 2018
Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets.
Green Car Congress
JANUARY 1, 2010
Venezuela state-owned PDVSA and Italy-based Eni are finalizing a planned 60:40 joint venture to produce heavy crude oil in Junin Block 5 in the Orinoco Oil Belt in Venezuela in 2014. Venezuela contains billions of barrels in extra-heavy crude oil and bitumen deposits, most in the Orinoco Belt in central Venezuela.
Green Car Congress
APRIL 27, 2017
Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4
Green Car Congress
AUGUST 25, 2015
CME Brent oil futures project continuity: as of August 18, 2015, CME Brent futures projected the price remaining below $60/bbl until June 2017. Interestingly, also, the Saudis increased their share of OPEC average daily output in the first half of 2015 over 2014 average daily volume—and their share of average daily global output.
Green Car Congress
JULY 11, 2016
Venezuela acted as a check on the overall level though, as the crisis-hit country’s production continues to hit fresh lows. Iran’s oil output rise has been swift since sanctions were lifted on January 16, increasing 740,000 b/d compared with December 2015. —Eklavya Gupte, senior editor for S&P Global Platts.
Green Car Congress
OCTOBER 20, 2015
Venezuela, an OPEC member, has even proposed an emergency summit meeting. Both, it would seem, have incentive to do so, as each has lost over $100 billion in crude revenues in 2015—and Russia bears the extra burden of U.S. per barrel oil in 2015 and 2016 respectively, while the October projections are based $51.62
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