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Platts Snapshot

OPEC has every incentive to make landmark oil deal work

2016-12-06 06:11:05 EST

Despite a checkered past with sticking to crude production cuts, there is a compelling case that OPEC and other key oil producers will rein in output over the next six months, argues Paul Hickin.

News Headlines

New York (Platts)--8 Dec 2016 539 pm EST/2239 GMT
Crude oil futures settled higher Thursday, with traders focused on a meeting in Vienna Saturday between OPEC and non-OPEC countries to discuss further cuts in oil production.
New York (Platts)--8 Dec 2016 241 pm EST/1941 GMT
South Korea is at the top of the list for Continental Resources as it mulls over potential export destinations for crude and condensates, chairman and CEO Harold Hamm said Thursday.
More Headlines

Feature: OPEC Guide

December 07, 2016
OPEC crude oil production for November rose for the sixth straight month, to a record 33.86 million b/d, an S&P Global Platts survey showed December 7, largely on the return of Angola's Dalia field from maintenance and recovery in war-torn Libya.
Also in this feature
Trafigura sees continued oil over-supply 'struggle'
Crude oil and product markets will continue to struggle with over-supply despite OPEC efforts to rein in production, trading company Trafigura said December 7.
OPEC to meet non-OPEC oil producers in Vienna December 10: Barkindo
The US elections could have only a "marginal effect" in 2017 on the coal industry, although market tailwinds could still provide a boost, according to analysts.

The Barrel Blog

December 05, 2016
Egypt hopes OPEC’s move to cut oil output will actually breathe life into the moribund traffic in its Suez Canal and provide badly needed foreign currency.
November 29, 2016
There are short-term incentives, under the pressure of summitry, to come up with something - anything! - but the underlying problems mean that any deal reached is unlikely to have much substance or longevity.
November 21, 2016
The way US E&P operators are adding rigs, planning activity ramp-ups, preparing to raise capex and looking forward to renewed production growth in 2017, you’d be tempted to write finis to a harrowing two-year industry downturn.
All Blogs

Price Focus

US Gulf Coast sweet crude differentials can be mixed as opposing factors pull US crude oil economics in different directions, Platts data shows. While there may be the possibility of a crude oil output freeze by major OPEC and non-OPEC producers, US commercial crude oil stocks are high.

Oil Infographics

It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.

Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one's life is untouched by this immense resource.


Could new crude grades go into Dated Brent?
December 08, 2016
- Platts editors Joel Hanley and Robert Beaman discuss the possibility of new grades of crude oil joining Brent, Forties, Oseberg and Ekofisk in the vital Dated Brent benchmark. Is Norway’s Troll the strongest candidate?
Trump administration could be a bend in the road for biofuels blending
December 05, 2016
- Total renewable fuel is slated to break through the so-called blendwall in 2017, but how will a new presidential administration affect targets for the Renewable Fuel Standard?
Phone a friend: OPEC calls for oil output cut with non-member assistance
December 01, 2016
- In a special episode of Capitol Crude, Brian Scheid calls former podcast co-host Herman Wang in Vienna to get the details of OPEC's historic decision to cut production.
All Podcasts


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Asia Pacific and Middle East Refined Oil Products methodology

Published March 2016

The Asia Pacific and Middle East Refined Oil Products Guide contains the primary specifications and methodologies for Platts Asia Products assessments.

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