Oil Market Will Help OPEC Do Its Job
Here’s a bit of trader wisdom from the crude market for OPEC: “It takes low prices to cure low prices.” The cartel, now dubbed “OPEC+” with the significant addition of Continue Reading
What Would A New OPEC Look Like?
The global oil market is going through a metamorphosis , and if the signs are right, a possible long-term partnership between OPEC and its former rivals, especially Russia, looks to Continue Reading
Analysis: OPEC production cut gets muted reaction from Asian crude buyers
Refiners and buyers of Middle Eastern sour crudes in Asia have been largely unfazed by the OPEC-led supply cut announced in Vienna last week, market sources said on Wednesday.OPEC will Continue Reading
2019: A Pivotal Year For OPEC
OPEC’s rollercoaster ride in Vienna highlights the growing divide within the oil cartel. Many oil analysts and financial gurus have fallen for the oldest media trick in the world, and Continue Reading
OPEC+ Deal To Be Forged In March
OPEC and its non-OPEC partners are set to officially sign a cooperation agreement in March of next year, the UAE’s energy minister Suhail al-Mazrouei said, according to Reuters. The agreement Continue Reading
OPEC+ Succeeds, What’s Next For Oil?
Oil prices spiked on Friday on news from Vienna. OPEC+ managed to pull off an eleventh-hour agreement , checking all the boxes after a contentious set of meetings. There were Continue Reading
Is The OPEC Deal The Start Of A New Rally In Oil?
U.S. West Texas Intermediate Crude Oil soared on Friday as investors breathe a sigh of relief as OPEC and its partners decided to cut 1.2 million bpd. On Thursday, Saudi Continue Reading
Former Venezuelan General Takes Helm Of OPEC
In what some saw as a sign of OPEC’s growing irrelevance in the world of oil, Venezuela’s Oil Minister Manuel Quevedo will take the helm of the cartel beginning next Continue Reading
OPEC, Russia agree to slash oil output despite Trump pressure
OPEC and its Russia-led allies agreed on Friday to slash oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price Continue Reading
OPEC, Russia Strike Deal to Cut Oil Production
Budget Buster Oil prices are below levels many OPEC and allied nations need to balance their budgets. Fiscal break-even oil price in U.S. dollars, 2018 BRENT $61.50 a barrel 21:07 Continue Reading