Stories tagged with "OPEC meeting"

OPEC Meets as Oil Demand Turns the Corner

Posted by Gail the Actuary on September 9, 2009 - 10:10am
Topic: Demand/Consumption
Tags: morgan downey, oil demand, opec, opec meeting, original [list all tags]

This post is a guest post by Morgan Downey. Morgan is author of the book ‘Oil 101’.

OPEC members announced cuts in late 2008 totaling 4.2 million barrels per day (Mb/d). Compliance with these cuts is currently running at around 3Mb/d.

Ahead of OPEC members meeting on Wednesday September 9 in Vienna, it is worth elaborating on why OPEC will likely refrain from making any production changes and why they may in fact need a temporary tightening of compliance with existing quotas by up to 500,000 barrels per day.

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OPEC Meeting and a Few Related Thoughts and Graphs from Readers

Posted by Gail the Actuary on March 14, 2009 - 10:01am
Topic: Supply/Production
Tags: oil production, opec, opec meeting [list all tags]

OPEC will meet on Sunday to talk about possibly reducing oil production further. In this post, I have a few short news clips, and some reader supplied analyses and graphs. Some of the graphs relate more to world oil production in total than just OPEC.

This is a graph provided by OPEC in its March report showing its estimate of both OPEC and World oil production through February:

According to OPEC's view, both OPEC and world production continued to drop through February.

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