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From the Archives: Time for action from OPEC
17 October 2024
In our final look back into the Petroleum Economist archives, we turn the clock back to September 2016
Citi's oil bear makes a move
18 August 2017
One of Wall Street's best energy analysts is packing up to go and sell solar panels in Costa Rica. Over steak in London, Seth Kleinman explains why
Electric threat
12 June 2017
The oil industry needs to start taking the rise of alternative vehicles seriously
Over to you, Texas
13 December 2016
The Opec-non-Opec deal will help prices – but even if everyone complies, it can’t on its own be decisive
The bear necessities
8 December 2016
Opec has tried to put a floor in the price. But further strength in 2017 will depend on the reaction of other suppliers and aversion of many risks
Opec tells the market: we’re back
30 November 2016
Saudi Arabia has accepted Iran’s terms for a deal. Now Russia has to keep its pledge to cut too
Known unknowns
25 November 2016
Opec's efforts to cut supply will be the main theme of 2017 and prices will rise. But the outlook is still fraught with risk and uncertainty
Will Opec surprise the market?
23 November 2016
Deeper-than-expected cuts are on the table and the momentum is behind a deal
Opec - now for the hard part
21 November 2016
Opec's Algiers deal has put a floor in prices - but the group must give the market real details at its end-November meeting
End of the war for Opec
31 October 2016
In the end, the fiscal pressures and income loss were too great for Opec’s members to bear—and the rewards of the market-share strategy too meagre
Back to the new normal
13 October 2016
Judging by history, and reflecting rampant supply, tepid demand and a passive Opec, $50 oil is about where the price belongs
Opec’s imperfect deal
30 September 2016
Algiers marks a major policy shift. But the market will want real numbers soon
How an Opec deal could work
28 September 2016
Iran’s demands can be accommodated with some adjustments of the numbers
Ready to deal, Saudi Arabia waits on Iran
28 September 2016
The kingdom is ready to ditch its laissez-fair market strategy and cut production. Iran needs to come on board, but an agreement is close
Libya: A ceaseless campaign
19 September 2016
Our report on the country’s energy infrastructure is the definitive guide to Libyan oil, politics, and civil unrest
The oil world's most difficult job
19 September 2016
NOC’s chairman fears a disaster if his company is dragged into the war for Libya’s oil
Time for action from Opec
24 August 2016
Saudi Arabia’s oil minister says Opec will take “any possible action” to stabilise the market. The group should cut, now
NOC’s Sanallah: ports deal with ‘criminal’ Jadhran threatens Libyan oil recovery
11 August 2016
The UN’s agreement to pay off militia controlling oil terminals will ‘contaminate’ its reputation in the country and sets a dangerous precedent, says NOC chief
NOC pleads for money from Tripoli
11 August 2016
Unity government’s refusal to transfer funds pledged to state firm is stalling oil-output recovery, says NOC chief
Sanallah: Keep NOC out of the war
11 August 2016
Oil is now driving the conflict in Libya, says the state company’s boss, and dragging the firm into it will worsen the situation
Libya’s dangerous oil deal
3 August 2016
The UN-brokered ports deal with Jadhran cannot, on its own, increase the country’s oil output. But it may worsen the conflict
Realm of uncertainty in Saudi Arabia
27 July 2016
Rarely has Saudi policy, across all spheres, been less predictable. Its reaction to a spate of terror attacks inside the kingdom may worsen this
What does a balanced oil market mean?
19 July 2016
Supply and demand might come back into line this year, but without the kind of price rises the industry hopes for
Egypt's petroleum minister: a man with a plan
8 June 2016
Tarek el-Molla believes his country will be a major oil hub, and self-sufficient in natural gas
Prices are firming, but don't ignore shots across the bow
2 June 2016
Supply disruptions are firming oil prices. But the market is still too blasé about the risks, which may include a shrinking spare-capacity buffer
Looking to oil's vanishing point
27 April 2016
Hard-to-quantify shifts may be underway in global energy and the oil industry will ignore them at its peril
The Doha collapse
18 April 2016
Saudi-Iranian rivalry has thwarted an oil-supply deal, just as the price recovery was gathering momentum
Five things to bear in mind about the Doha freeze talks
6 April 2016
Qatar will host another oil-producer meeting on 17 April. But its success is in the balance
Looking past the glut
6 April 2016
Charif Souki and Martin Houston think now is the time to start building more US liquefaction capacity
LNG: gloomy now, brighter soon
4 April 2016
LNG producers must have faith. The glut will pass and the market will need their gas
Doha delusions
30 March 2016
Unless the freeze becomes cuts its significance is minimal and efforts to keep talking up the market could backfire
Libya’s enduring calamity
24 March 2016
A new unity government seems destined to deliver neither unity nor government
Patience, investor
15 March 2016
Chevron’s bet on big-ticket projects will pay off, eventually
Production forecasts: falling, not freezing
25 February 2016
Welcome to our in-depth report on production forecasts
Freezing output does nothing for the oil market
16 February 2016
If the best Opec can muster is a weak deal not to lift already high production this will add little strength to prices. But the Doha deal may be just the first step
Iraqi oil sector: Fighting against all odds
12 February 2016
Iraq’s myriad troubles will not stop its crude output from growing again in 2016, says oil minister Adil Abdul al-Mahdi
Bottoming out: the fragile recovery of the oil market
10 February 2016
The good news is that the fundamentals should start to improve. But speculation abounds that oil could get caught in the wider market downdraft
Digging-in time
5 February 2016
The short-term fundamentals look dire. But producers must not panic
A Saudi-Russia deal to cut?
2 February 2016
Both countries want higher oil prices. But a troubled history and near-term market dynamics suggest the time is not yet ripe
Saudi Arabia far from economic crisis, says crown prince
13 January 2016
Muhammed bin Salman gave an interview with The Economist this month - here's what Petroleum Economist picked out
Libya on the brink
7 January 2016
Hopes for the UN's unity government are fading, IS is capitalising on the chaos, renewing its assault on energy infrastructure, and the drumbeat for Western intervention is getting louder
Opec suffers internal division as the market slumps
9 December 2015
Venezuela calls to cut supply and hike prices, but Saudi Arabia is sticking with its plan
Opec to stick with no cuts policy in Vienna
30 November 2015
Opec is likely to sit on its hands this week in Vienna, hoping the market vindicates its policy in 2016
Division in Libya slows production
18 November 2015
Libya’s Zueitina terminal has been shut again amid an effort by the east to wrest control of the country’s crude-export revenue
Two major fields reopen in Libya as disputes are settled
23 October 2015
State firm NOC says it can recover output quickly and add to capacity, but some believe the country’s political disintegration makes this unlikely
Iran touts new contracts and talks up output plans
8 October 2015
Iran will add at least 500,000 barrels/day to production “within a few months” of sanctions being lifted
Oil market out of balance despite rising demand
30 September 2015
Despite falling non-Opec supply and rising demand, the market still has a way to go
Demand is rising fast, but prices won’t follow just yet
20 August 2015
The International Energy Agency’s (IEA) latest oil-market report suggests the fundamentals are turning, led by demand
New risks squeeze Alberta’s oil sands
17 August 2015
Canada's oil sands face collapsing oil prices, limited export routes and higher taxes
Stocks built by 3.3m b/d in second quarter, says IEA
30 July 2015
Saudi Arabia is pumping oil at record highs, Iranian supplies are about to hit the market, Iraq’s exports from the south are beating expectations and, across the Atlantic, North American oil production continues to rise