The Dilettante abides
The Dilettante abides
OPEC expects Russia to produce at the same average rate in 2017 as in 2016, which means a slight decrease from the current daily output. The IEA acknowledges that, if Russia can continue pumping at the same rate as in October,…
The International Energy Agency’s estimates of global oil demand growth – watch the evolution: May (2016): 1.2 mmbpd y-o-y in 2016. June: 1.3 mmbpd in 2016, 1.3 mmbpd in 2017. July: 1.4 mmbpd in 2016, 1.3 mmbpd in 2017. August:…
On Sept. 15, three days after OPEC published its latest monthly report, I suggested that the cartel’s forecasters might be underestimating Russia’s output and overestimating Kashagan’s in the fourth quarter. From Russian preliminary data, September output looks close to 11.1 mmbpd, up…
The International Energy Agency (IEA) notes in its August 2016 report: By contrast [to the US, China, Columbia and Mexico], Russia has shrugged off lower prices, international sanctions and financing difficulties to become non-OPEC’s largest source of supply growth. While…