Articles Tagged: Organization of the Oil Producing Countries (OPEC)

OPEC focuses on rival mega projects, lives with shale swing output

After almost a year of painfully low oil prices, OPEC members are beginning to believe they are winning against upstart U.S. shale producers in a short-term market share contest. Yet insiders and experts say OPEC is looking for a longer-lasting impact on other high-cost production oil field plans, many in deep oceans, with bigger time scales, even if that means a period of cheap oil prices lasting for years.

OPEC: The US shale boom is over

The US shale boom is grinding to a halt. In its latest monthly oil-market report, published Monday, the 12-member oil cartel OPEC said US oil producers were finally beginning to feel the squeeze of lower oil prices.

Reconceptualizing the link between energy and security

Western framing of the relationship between oil and national security remains linked to concerns that the owners of oil-producing assets in Saudi Arabia or other Organization of Petroleum Exporting Countries (OPEC) might regain market power and use it to coerce countries that depend on imports to meet domestic demand.

Will Russia Join OPEC? ‘Not On The Agenda,’ Kremlin Spokesman Says Amid Global Slide In Oil Prices

Russia will not join the Organization of Petroleum Export Countries amid a significant decline in oil prices and ongoing deliberation among oil-rich nations over how to shore up the global market. Brent crude was trading at $48.65 per barrel Tuesday, down from more than $100 per barrel in mid 2014.

OPEC Split on Need for Long-Term Oil-Price Forecasts

Saudi Arabia and its Gulf allies are at odds with Iran and other OPEC members over whether the organization should include oil-price forecasts in its long-term strategy report, according to three of the group’s delegates. The Gulf kingdom, which has led the Organization of Petroleum Exporting Countries in a battle against rival producers, is seeking to exclude price assumptions from the report, according to the delegates, who asked not to be identified because the document isn’t public.

New ‘Super Giant’ Natural Gas Field Could Be Straw That Breaks OPEC’s Back

A new super-giant natural gas field could prove to be the largest ever discovered on earth and also end up satisfying energy demand in parts of the Middle East and the Mediterranean for decades to come. Italian energy firm Eni made the find off the northern Egyptian coast. According to the company, there could be as much as 30 trillion cubic feet of gas in the Zohr field – equivalent to 5.5 billion barrels of oil. The field covers around 100 square kilometres and is approximately 1,450 metres below ground.

It will take much cheaper oil for Saudi Arabia to take action

THERE comes a time when any self-respecting cartel boss has to focus on protecting his turf. Saudi Arabia has spent the past nine months fighting to safeguard its share of the global oil market, increasing its own crude production to record highs. That exasperates its weaker OPEC partners. It also seems utterly self-defeating, especially after world oil prices plunged below $45 a barrel on August 24th, a six-and-a half year low.

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