• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 2 hours Despite pressure about Khashoggi's Murder: Saudi Arabia Reassures On Oil Supply, Says Will Meet Demand
  • 29 mins Dyson Will Build Its Electric Cars in Singapore
  • 12 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 16 hours Iraq war and Possible Lies
  • 2 hours Satellite Moons to Replace Streetlamps?!
  • 2 hours Can “Renewables” Dent the World’s need for Electricity?
  • 13 hours EU to Splash Billions on Battery Factories
  • 19 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 12 hours Get on Those Bicycles to Save the World
  • 8 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 3 hours Aramco to Become Major Player in LNG?
  • 29 mins How Long Until We Have Working Nuclear Fusion Reactor?
  • 3 hours Why I Think Natural Gas is the Logical Future of Energy
Alt Text

U.S. Shale’s Glory Days Are Numbered

That decline rates in U.S.…

Alt Text

High Prices Benefit Iran Despite Lost Oil Exports

Iranian Vice President Eshaq Jahagiri…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Trending Discussions

Kuwait Calls For Meeting To Enforce OPEC Cut In Q1 2017

Kuwait will be taking a leadership role in monitoring the Organization of Petroleum Exporting Countries’ (OPEC) week-old production freeze deal, according to acting oil minister Anas al-Saleh, who said he would request the committee enforcing the agreement to host a meeting in the Gulf country by the end of the first quarter of 2017.

"In my capacity... as head of the committee... I will call for a meeting of the first Monitoring Committee to take place in February or March 2017, " Saleh’s most recent statement reads. "We will soon inform (our) customers that we will incorporate and apply a cut to their monthly contractual commitments and liftings in accordance with OPEC's recent agreement. I am certain that such actions will contribute to the re-balancing of the market and assure stable markets."

The November 30th agreement to limit bloc-wide output to 32.5 million barrels per day has been met with strong political support from all of the cartel’s members, with Iran declaring it a diplomatic victory and Saudi Arabia parading its leadership as evidence of the effective management of Saudi Arabian Oil Co. – the national energy company the KSA plans to IPO next year.

Officials familiar with dealings between Kuwait and Saudi Arabia told Bloomberg that both countries had agreed to make sure that any output from shared fields between the neighboring countries would not cause either nation to exceed its production quota under the deal.

The Wafra field in Saudi Arabia, run by Chevron, shut down in May 2015 after bureaucratic red tape prevented the company from retaining access to its equipment. Another offshore field called Khafji - a joint venture between Saudi Arabia and Kuwait – shut down in October 2014 due to ambiguous environmental concerns.

“We are encouraged by efforts underway by all appropriate parties to resolve the issue,” Sally Jones, a Chevron spokeswoman, wrote to Bloomberg this week. “Production will remain shut in until the situation is resolved.”

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News