If OPEC is to succeed in bringing production down to its stated target of 32.5 mb/d by January, it will now need to cut 1.7 mb/d, not just the 1.2 mb/d that it announced last week. But a few of those countries (Libya, Nigeria, Indonesia) are exempted from the limits agreed upon in the latest deal.
1.44 PM Dec 7th
promptly rise back to much more comfortable levels! A few bom-bs expng in Libya / Yemen / Syria would have a similar effect on oil prices. Even now prices are being talked up, but one needs to notice the difference between then and now. Then, prices would spike up, and stay up. Now, prices spike up
10.23 AM Nov 3rd
OPEC`s oil output likely hit a record high in October, rising to 33.82 million barrels per day as Nigeria and Libya partially resumed output after disruptions and Iraq raised overseas sales, according to a Reuters survey. CHART: U.S. oil may fall further into $45.56-$46.13 zone
1.16 PM Nov 1st
Gold prices fell to two week lows ahead of the Non-farm payrolls data this week and after upbeat U.S. manufacturing data stoked expectations that the Fed would hike interest rates by year-end. Activity in Base metals is dull due to the Chinese holiday this week. Oil prices fell as Iran and Libya
4.33 PM Oct 4th
a year ago to 19.712 million bpd, EIA data showed. In a day or two, OPEC output for Sep will be out...Watch out for all time high output from OPEC now that Libya is also exporting, Nigeria is stable...This high output will cast doubt on the implementation of OPEC deal...
11.50 PM Oct 1st
Basic Math Aataa hain kya? Iran, Nigeria and Libya are allowed to produce maximum as per Saudi....Together they can add more than 1 million barrels....So who is going to cut? Also Russia is already saying that they will freeze at their current production - which is more than 11 million barrels
10.36 AM Sep 30th
as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeria and Libya would be allowed to produce "at maximum levels that make sense" as part of any output limits which could be set as early
9.06 PM Sep 28th
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