OPEC looks to extend cuts, oil price rises
Friday, October 27, 2017
Oil eclipsed $52 a barrel early Tuesday as the Organization of Petroleum Exporting Countries was believed to be working on an exit strategy alongside talking about extending production cuts through the end of next year, according to Oil & Gas 360.
The price of oil is holding above $50 a barrel as speculation mounts that OPEC members will prolong supply cuts to prevent the market returning to surplus next year. OPEC hopes to eventually phase out the cuts without flooding the market. The organization is expected to decide next month whether or not it will extend its production restrictions beyond March.
Simultaneously, the U.S. shale oil market has been showing signs that growth may be slowing as drilling declines.
Learn more: Oil & Gas 360 > Oil climbs above $52 as OPEC looks to extending cuts
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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.