• 4 minutes Trump has changed into a World Leader
  • 7 minutes China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 8 minutes Indonesia Stands Up to China. Will Japan Help?
  • 10 minutes US Shale: Technology
  • 13 minutes Which emissions are worse?: Cows vs. Keystone Pipeline
  • 17 minutes Shale Oil Fiasco
  • 20 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 6 hours Prototype Haliade X 12MW turbine starts operating in Rotterdam
  • 5 hours Might be Time for NG Producers to Find New Career
  • 3 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 36 mins Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 5 hours Wind Turbine Blades Not Recyclable
  • 6 hours Phase One trade deal, for China it is all about technology war
  • 57 mins Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
  • 21 hours Beijing Must Face Reality That Taiwan is Independent
  • 23 hours What's the Endgame Here?

Global Energy Advisory September 30th 2016

Global Energy Advisory September 30th 2016

Politics, Geopolitics & Conflict

• OPEC has, against expectations, agreed to freeze its oil output in a much-awaited move to do something deliberate to rebalance oil markets. However, skepticism remains rife as, first, the final decision should be made two months from now, and second, the members of the organization still need to agree individual quotas to achieve the new ceiling of 32.5-33 million bpd. That’s not a huge reduction, since the current rate at which OPEC pumps oil is estimated at around 33.24 million bpd, while the global glut is more than half a million barrels, and closer to 760,000 bpd according to OPEC estimates. The quotas will be discussed at the November 30 meeting of the cartel in Vienna, by which time Iran, which was the main opponent to a quick deal now, may have ramped up its output to 4 million bpd or above, reinforcing doubts about the point of an output freeze. Iran, Libya and Nigeria will not be among those OPEC countries who take cuts, and with new supply entering the market from all three, the suggested cuts do not seem feasible as stated.

• A referendum in Azerbaijan has extended the presidential term from five to seven years, solidifying the position of incumbent Ilham Aliev, son of the country’s long-term leader Heydar Aliev. Ilham Aliev can now theoretically rule the oil-rich Central Asian state until his death, as the rule for a set maximum number of terms in office was revoked at an earlier referendum…




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