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Blame Oil: Nigeria Slumps into Recession, Norway Stalls
Nigeria slumped into recession and Norway’s economic growth slowed to a standstill in the second quarter. Both countries rely on oil for a big chunk of their exports and have been hit hard by the collapse in prices. Oil has…
The Top 10 Public Global Oil Producers In 2016
The following list is based on average daily global oil production for all publicly traded companies during the most recent fiscal quarter. As noted in the article on natural gas producers, some of the largest producers in the world are…
Iran Says Will Cooperate with OPEC to Stabilize the Oil Market: IRNA
Iran’s oil minister said today that Tehran will cooperate with Organization of the Petroleum Exporting Countries (OPEC) to stabilize the world market, but expects others to respect its rights, the ministry’s news agency SHANA quoted him as saying. Asked about…
Despite the Current Decline, Oil Market on the Path to Rebalancing
“Higher oil demand is expected in the 3rd and 4th Quarters”, HE Dr Mohammed Bin Saleh Al-Sada, Qatar’s Minister of Energy and Industry and current OPEC President said, expressing positive sentiments in a brief released from OPEC. He added that,…
IEA releases Oil Market Report for August
Crude oil prices eased to around $45 per barrel in August as a global supply overhang weighed and demand growth weakened, the newly released IEA Oil Market Report (OMR) for August informs subscribers. Brent crude had threatened to break below…
IEA releases Oil Market Report for July
Global oil supplies rose by 0.6 mb/d in June, to 96 mb/d, after outages curbed OPEC and non-OPEC supplies in May, while production was 750 kb/d below as higher OPEC output only partially offset non-OPEC declines, the newly released IEA…
Ventura Oil Spill Misses the Ocean, but Damage on Land is Unclear
Before the sun rose Thursday, Kirk Atwater’s wakeup call was a noxious breeze that filled his bedroom with fumes. He stepped out of his ranch that overlooks an arroyo in the Ventura hills and saw a creek of thick, black…