• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 10 hours EU has already lost the Trump vs. EU Trade War
  • 2 days Science: Only correct if it fits the popular narrative
  • 3 hours Impeachment S**te
  • 2 days Crazy Stories From Round The World
  • 12 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 17 hours Everything You Need To Know About Trump
  • 10 hours 55.00 WTI
  • 12 hours Water, Trump, and Israel’s National Security
  • 1 day IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 9 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 1 hour Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 2 days Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 2 days ‘If it saves a life’: Power cut to 1.5 million Californians
  • 17 hours Last I Checked

Global Energy Advisory - June 15th 2018

rig

Crude oil prices are back on the seesaw as the market prepares for next week’s OPEC+ meeting in Vienna. Most analysts expect the group to agree to start raising crude oil production gradually, although there are those uwho oppose such a move, such as Iraq and Iran.

Iraq has been particularly vocal in its opposition to a production recovery although it has been the OPEC member that has most consistently failed to cut production to its assigned quota. However, now Baghdad is angry with Riyadh and Moscow: both Saudi Arabia and Russia have already upped their crude oil production ahead of the meeting.

President Trump, meanwhile, has launched another Twitter offensive against OPEC, blaming the cartel for keeping oil prices high even though both Brent and WTI are palpably lower now than they were in April, when Trump railed against OPEC’s cuts for the first time.

Russia’s Alexander Novak has said Russia and Saudi Arabia are in agreement about a gradual increase of production but this agreement would not mean much if Iraq and Iran try to put their foot down. If this happens and the June 22 meeting ends with no unanimous decision, it would not mean that everyone will keep pumping at the lower levels. It means that a lot of producers will start cheating and production will be higher again.

Deals, Mergers & Acquisitions

• Hong Kong-based Ck Infrastructure has offered $9.8 billion for Australian gas pipeline operator APA Group,…




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