OPEC crude cargoes leaving for the United States in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show. Continue Reading
When OPEC+ agreed to begin cutting crude oil production again in December, hardly anyone in the cartel thought the effect of the news on prices would be as lackluster as Continue Reading
The United States received in December the lowest volume of OPEC-derived crude oil in five years, according to market intelligence firm Kpler and data from Refinitive Eikon, cited by Reuters Continue Reading
OPEC and Russia-led non-OPEC oil producers are highly unlikely to create some kind of a formal joint organization for managing the oil market, due to the additional bureaucracy and to Continue Reading
OPEC has come through some turbulent times in the last few years as oil prices fell to decade lows. It has implemented production cuts, has rallied Russia to climb onboard Continue Reading
Russia’s budget has received an additional US$120 billion since Moscow’s cooperation deal with OPEC started two years ago, Russian Energy Minister Alexander Novak told local business daily Kommersant in a Continue Reading
Just a couple of weeks after OPEC and its partners agreed to implement another round of production cuts, the cartel is ready to extend these cuts as international prices continue Continue Reading
Russia continues to be the key partner of OPEC and its largest producer Saudi Arabia in managing the oil market. For a second production cut deal in a row, Moscow Continue Reading
OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per Continue Reading
Oil producer group OPEC plans to release a table detailing voluntary output cut quotas for its members and allies such as Russia in an effort to shore up prices, OPEC’s Continue Reading
