U.S. crude-oil stockpiles dropped to the lowest level since January after a fifth-straight weekly decline. Inventories fell by 2.98 million barrels to 499.7 million in the period ended Sept. 30, Continue Reading
Analysts are lowering their oil price forecasts despite OPEC’s promise to cut crude production , underscoring widespread skepticism about the cartel and its agreement. After pumping full tilt for the Continue Reading
Market enthusiasm around the OPEC deal has vacillated significantly over the last week, alternating between optimism and pessimism. A healthy segment of investors view the current agreement with skepticism given Continue Reading
OPEC could cut production at its late November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers reckon it is needed, Continue Reading
OPEC and non-OPEC oil producers plan an informal meeting in Istanbul Oct. 8-13 to discuss how to implement a production deal OPEC members reached in Algiers last month, Algerian Energy Continue Reading
Government has stepped up efforts to tackle oil price fallout Some economists forecasting economic contraction this year The first year of Saudi Arabia’s drive to reduce its oil dependence may Continue Reading
Return of Libya, Nigeria may swell needed cut to 1 million b/d Saudi output reductions may enable revival of U.S. shale oil For OPEC’s production deal to work, it was Continue Reading
Saudi Arabia, the world’s largest crude exporter, cut pricing for November oil sales to Asia and Northwest Europe and for most grades to other regions amid a global supply glut. Continue Reading
Conflicts and a lack of business opportunities in the oil sector creating economic headwinds for Sudan, the International Monetary Fund said. File Photo by Debbie Hill/UPI Fragility in Sudan brought Continue Reading
Iraq will later this month host influential bodies that assess oil production levels, ahead of an OPEC meeting when the topic will become even hotter as members jostle over allocations. Continue Reading
