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NEWS |
Opec+ likely to agree to cut production if US joins effort: Sources
Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous ef (...)
NEWS |
OPEC+ set to agree 4.3 mln bpd in output cuts: JP Morgan
OPEC and Russia this week are likely to agree to cut oil output by about 4.3 million barrels per day (bpd), JP Morgan analysts said in a note on Tuesday, a big increase on their recent cuts of 1.7 mil (...)
NEWS |
OPEC+ meeting delayed on new Saudi, Russia rift
OPEC+ delayed a meeting aimed at ending the oil price war, as Riyadh and Moscow trade barbs about who’s to blame for the collapse in oil prices.
NEWS |
OPEC+ talks may be held next week, source says
OPEC started preparations for negotiations within the OPEC+ framework, initiated by Saudi Arabia. The meeting may take place next week, according to a source taking part in the preparations.
NEWS |
OPEC+ poker game on Monday: Russia holds better cards than Saudi Arabia
A month after the last unproductive OPEC+ meeting and with Covid-19 slashing demand amid the ongoing price war, the US has managed to broker a new extraordinary meeting for oil-producing nations.
NEWS |
You thought global oil supply couldn’t get any larger? INEOS: ‘Hold my maintenance’
With only a week to go before OPEC+ countries start flooding the world’s total oil production with an estimated extra 2.5 million barrels per day (bpd) amid the Covid-19 crisis, building one of the bi (...)
NEWS |
Oil prices drop 31% in worst loss since Gulf War
Oil markets crashed more than 30 per cent after the disintegration of the Opec+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and ec (...)
NEWS |
Global Oil Stocks To Pile Up As Proposed OPEC Cuts Are No Match For Coronavirus-induced Surplus
The coronavirus outbreak in China will curb global oil demand growth by at least a quarter this year, and the production cuts of 600,000 barrels per day (bpd) proposed by an OPEC+ committee are far fr (...)
NEWS |
Azerbaijan likely to support deeper OPEC+ oil output cuts
Azerbaijan is likely to support further oil output cuts by OPEC and its allies, the ex-Soviet country’s energy minister said, should the move be necessary to balance demand fears after a coronavirus o (...)
NEWS |
Don’t get too excited – OPEC needs to do more in 2020
The 14-country OPEC bloc, Russia, and a host of other OPEC+ countries agreed on 6 December 2019 to bump up the group’s target oil-production cuts by just over half a million barrels per day, from 1.19 (...)
NEWS |
Weekly Energy Recap: Keeping Things In Balance
Brent crude rose above $64 per barrel after OPEC+ producers unanimously agreed to deepen output cuts by 503,000 barrels per day to a total of 1.7 million bpd till the end of the first quarter of 2020.
NEWS |
Saudis pledge to cut production, but only if other OPEC members stop cheating
Saudi Arabia appeared to be on track to forge a new quid pro quo with fellow OPEC+ members: If you stop cheating, we’ll keep on cutting.
NEWS |
OPEC+ to Consider Deeper Output Cuts, Iraq Oil Minister Says
The OPEC+ alliance will consider deeper cuts to crude production when oil producing nations meet in Vienna on Dec. 5, Iraq’s oil minister Thamir Ghadhban said.
NEWS |
Putin says Russia and Saudi Arabia will maintain oil cuts for as long as 9 months
Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman to extend the OPEC+ agreement at current production levels for the rest of this year and potentially into ear (...)
NEWS |
Exclusive - Saudi's Falih says no OPEC+ output policy change until June
Saudi oil minister Khalid al-Falih said on Sunday it would be too early to change OPEC+ output policy at the group’s meeting in April and that China and the U.S. would lead healthy global demand for o (...)
NEWS |
Five reasons why Venezuela crisis to significantly affect oil market
The political crisis in Venezuela did not generate - so far at least - a significant rise of oil prices on world markets, Francis Perrin Senior Fellow at the Policy Center for the New South (Rabat) an (...)
NEWS |
OPEC+ Caps Prove No Barrier to Record Russian Oil Output in 2018
Russia’s oil production reached a post-Soviet high last year even as it coordinated supply with the Organization of Petroleum Exporting Countries (OPEC).
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