Oil Majors To Boost Production As IEA Warns Of Supply Deficit

Oil prices traded sideways in a quiet market as traders digest the news coming from Houston where the world’s opinion leaders in oil & gas have gathered for this year’s CERA Week. (Click to enlarge) (Click to enlarge)Chart of the Week   (Click to enlarge) • Total installed wind capacity surpassed hydropower in the U.S. for the first time last year. • Hydro has been a pillar of the U.S. electricity system for decades – not as large a share of the sector as coal, natural gas or nuclear, but hydro has held a sizable…

Latest Libyan Faction Fighting Drags Oil Output Down

The Libyan National Army (LNA), led by General Khalifa Haftar, has bombed the Benghazi Defense Brigades (BDB) faction for a fifth day in the country’s Oil Crescent, and the latest fighting has led to Libya’s oil production dropping by 35,000 bpd to around 660,000 bpd, Reuters reported on Tuesday, quoting local officials and residents. The LNA and BDB have been fighting over control of the oil ports in Libya’s east since Friday, putting the country’s plan to dramatically increase oil production and exports at risk. In September…