OPEC, for some quiet moments..

[admin]

Nigeria said it lost out on as much as $100 billion in revenue last year as attacks by militants in the oil-rich Niger Delta cut crude output to a record low. Production fell by 1 MMbpd to 1.2 MMbpd at the peak of the attacks, Emmanuel Kachikwu, minister of state for petroleum, said Tuesday in a video-clip on his Facebook page.

Nigeria loses up to $100 billion in revenue as attacks cut oil

OPEC may be getting all the credit for reviving the oil market, but it had a little help. While OPEC did spur a 28% recovery late last year by announcing production cuts, supply isn’t the only factor buoying the market: demand repeatedly beat expectations in 2016, and is set to surprise again. Global oil consumption will surpass average growth rates for a third year in 2017 amid continued economic expansion in China and India, according to data from the IEA. With all the attention on OPEC, the role of demand in keeping crude prices above $50/bbl has been overlooked, according to consultants Energy Aspects Ltd.

OPEC wins plaudits for oil recovery, but economy lends a hand

EIA’s recently released Annual Energy Outlook 2017 (AEO2017) Reference case projects that U.S. tight oil production will increase to more than 6 MMbpd in the coming decade, making up most of total U.S. oil production. After 2026, tight oil production remains relatively constant through 2040 in the Reference case as tight oil development moves into less productive areas and as well productivity decreases. Side cases with different resource and technology assumptions result in different tight oil and total U.S. oil production projections.

Tight oil expected to make up most of U.S. oil production increase through 2040, EIA says

President Donald Trump has overturned an Obama-era anti-corruption rule that would have forced oil, gas and mining companies to disclose payments to foreign governments, becoming the first president in 16 years to take advantage of a law that allows him to rescind a predecessor’s regulations.  Trump on Tuesday signed a congressional resolution to repeal a Securities and Exchange Commission disclosure rule that was called for in the 2010 Dodd-Frank Act. It’s likely just the start: Congress is considering a number of other measures, including ones to overturn Obama administration rules protecting streams from mountaintop mining and prevent people with serious mental-health problems from buying guns. “This is one of many,” Trump told reporters at a signing ceremony. “We have many more left. And we’re bringing back jobs big league.”

Trump repeal of Obama energy regulation signals more to come