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OPEC


WHO RUNS THE WORLD? OPEC

By: Sam Klein / Posted on: December 6, 2018

The world of crude oil is buzzing right now, as OPEC is currently meeting in Vienna, with a goal of reaching an agreement over production levels within the next 6 months. Oil prices dropped over 3 percent on Thursday as OPEC agreed to cut production. However, the cartel is waiting to decide on the actual size of reduction until after a discussion with Russia. This could delay the decision until Friday, when OPEC is set to meet with non-members.

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What in the world is going on?

By: Thomas Roberts / Posted on: December 5, 2018

If you read this blog or pay close attention to the oil and gas industry or financial markets you most likely see a lot of headlines about OPEC, geopolitics, Saudi Arabia, President Trump, China, etc. It is a lot to keep track of and with only 4 weeks, left to 2018 there is an abundance of topics to discuss. Today, I wanted to give a short list of some of the major events unfolding across the globe and hopefully give some insight as to what is going on in the world that is effecting the recent volatility in the markets.

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Holiday Flash Briefing

By: Daryl Milliner / Posted on: November 30, 2018

Slowed global demand with supply glut to drain in 2019

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Russian Oil Production

By: Jon Babyak / Posted on: October 26, 2018

With the Iran sanctions looming, international oil markets are looking for alternative crude suppliers.  The United States and the European Union (EU) as well as many others, have initially turned to Saudi Arabia. However, there is uncertainty of the Saudi’s ability to fill in the production gaps given the recent turmoil over a murdered Saudi Arabian journalist.  One source of additional crude production available is Russia, according to Igor Sechin, the Chief Executive of Russian oil major Rosneft.

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Part Three: Summer is over and lower gas prices are on the way

By: George Butler / Posted on: October 12, 2018

On September 17th I wrote about "Relief at the Pumps," talking about lower gas prices are on the way. Since then retail gas prices have moved higher. In Pittsburgh, PA 87 grade Unleaded gasoline prices are now averaging $3.15 per gallon with a high of $3.239.

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