non-OPEC

/Tag: non-OPEC

The Oil Price Drops On Rising US Inventories – 2017

By |2017-03-23T10:23:49+00:00March 23rd, 2017|Categories: Articles|Tags: , , , , |

In the first half of 2017, OPEC and non-OPEC producers agreed to reduce oil output by 1.8m barrels per day (bpd). The move has supported the oil price, but the expected drop in global oil inventories has not materialised. Now, after a calm few months, the oil price has fallen almost 10% to below $50 per [...]

The OPEC+ Agreement: Oil Supply & Demand in 2017

By |2017-03-16T15:12:06+00:00January 30th, 2017|Categories: Articles|Tags: , , , , |

The OPEC+ agreement has stabilised the oil price The Brent oil price, which fell to c$27 per barrel at its lowest point in 2016, has now held above $50 per barrel since the original OPEC and non-OPEC agreement in December. The latest IEA Oil Market Report (19th January) indicates that the crude oil price will rise [...]