APICORP says cuts by OPEC+ might not be enough to stabilise oil prices
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Iraq oil exports reportedly rose 9.5% in December
Reuters reports that Iraq’s oil exports averaged 3.726mn barrels per day (bpd) in December, up from 3.372mn bpd in November
Oil prices see first annual decline since 2015
With plenty of fear and speculation surrounding both supply shortages and oversupply, it has been a turbulent year for the oil market, with prices peaking at $86 per barrel of Brent crude before crashing to $53 per barrel.
OPEC cuts, the US and the oil price in 2019
Vinod Raghothamarao, consulting director of energy wide perspectives at IHS Markitt, on the energy market, OPEC cuts and the outlook for 2019
Iraq’s policies to support oil and gas development appear stalled, says GlobalData
Iraq’s oil production is growing, but existing contracts are not reaching their full potential
IEA: US oil production will equal Saudi Arabia and Russia’s combined output by 2025
IEA Head Fatih Birol said that US production would “completely change the balance of oil markets”
$210bn to be spent on offshore oilfield services in 2019
Rystad Energy found that there will be an uptick in offshore projects in the coming year, with increasing offshore capex. Approximately 30% of 2019 project value sits in Middle East.
Oman oil minister inks $65mn exploration deals with Occidental Oman and Oman Oil Company
Occidental Petroleum has obtained exploration rights in concession areas 51 and 65
BHGE to open oilfield services facility in King Salman Energy Park
The first phase of the facility will open at the end of 2019