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The 5 Countries That Could Push Oil Prices Up

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The ‘Fragile Five’ petrostates—Iran, Iraq, Libya, Nigeria and Venezuela—continue to see supply disruption potential, with northern Iraq crude exports at risk due to an escalation of tensions between the (Kurdistan Regional Government), Baghdad and Turkey, while the United States has decertified the 2015 Iran nuclear deal,” U.S.

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An OPEC Deal Extension Isn’t As Simple As It Sounds

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And according to Iraq, the agreed-upon cuts have been all about exports all along. But Iraq is uniquely positioned. First, Iraq must contend with the Kurds, as well as international companies, with which it has production agreements that come with penalties for breeching. million barrels per day.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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per barrel prices in 2015 and 2016, oil export revenues will undershoot these pessimistic IMF projections, as crude prices are projected to stay below $60 through 2016 (EIA estimates for Brent are $54.07 in 2015 and 2016 respectively). in 2015 and 2016 respectively). Live by Energy…. billion respectively).

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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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The oil industry has yet to recover from an unprecedented two-year drop in investment in 2015-2016, and the IEA sees little-to-no increase in upstream spending outside of the United States in 2017 and 2018. However, the report finds that despite falling costs, additional investment will be needed to spur supply growth after 2020.

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Day Of Reckoning For US Shale Will Have To Wait

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In fact, Jeffries sees the spring of 2016 as a more critical deadline for struggling drillers hoping to keep their credit lines open. “We The ratings agency cut its forecasted oil price for 2016 to just $48 per barrel. Moody’s sees global oil production rising by 1 million barrels per day in both 2015 and 2016.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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In both the United States and Russia, each of which produces roughly as much as Saudi Arabia, output increased in 2015 rather than decreasing, and will continue to increase in 2016 in the U.S. percent in 2016. As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense.

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Opinion: The Current Oil Price Rally Is Reaching Its Limits

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American oil companies have gutted their budgets and have put off drilling plans, with many projecting absolute declines in 2016. Moreover, supply outages in places like Iraq and Nigeria have also knocked at least a quarter of a million barrels per day offline, an unexpected disruption that put upward pressure on prices in March.