Opec agrees to cut output by 1.2m barrels a day
Opec and its oil-producing allies have agreed to cut production by 1.2m barrels a day, defying Donald Trump’s calls to keep output high and sending crude prices rocketing 5 percent Continue Reading
OPEC Surprises Markets With Last Minute Deal
In the last possible minute, OPEC+ managed to agree upon a massive cut of 1.2 million bpd, pushing oil prices up by over 3 percent. The most vital industry information Continue Reading
Libya, Iran, Venezuela Secure OPEC Production Cut Exemptions
Whether you call it an exemption or a special dispensation, Iran, Libya, and Venezuela have all been spared the pain of cutting production under the newest OPEC agreement forged today Continue Reading
OPEC coalition cuts unlikely to affect US shale output: analysts
Saudi Arabia’s energy minister Khalid Al-Falih said Friday that US oil and natural gas producers were “breathing a sigh of relief” over the planned production cut announced Friday, but analysts Continue Reading
OPEC coalition agrees 1.2 million b/d cuts deal as Iran secures exemption
OPEC and its allies led by Russia agreed Friday after a tension-filled week to implement 1.2 million b/d of production cuts from January 2019 to shore up flagging oil prices Continue Reading
Russia’s Oil Production Cuts To Take Months To Implement
After Russia agreed on Friday to cut its oil production as part of the non-OPEC group tasked with cutting 400,000 bpd of oil production, Energy Minister Alexander Novak said it Continue Reading
Russia May Agree To 200,000 Bpd Cut In OPEC+ Oil Deal
Russia may be ready to cut its oil production by 200,000 bpd as part of a deal with OPEC to reduce oil supply—a higher commitment than 150,000 bpd previously aired, Continue Reading
OPEC tentatively agrees to oil cut, waits for Russia to commit
VIENNA (Reuters) – OPEC tentatively agreed to an oil output cut on Thursday but was waiting for a commitment from non-OPEC heavyweight Russia before deciding the exact volumes for a Continue Reading
Saudi energy minister says ‘I am not confident of an agreement’ on OPEC cuts; ‘Russia not ready for substantial cut’
OPEC still has unfinished business in negotiating an oil production accord, with Saudi energy minister Khalid al-Falih saying Thursday after the group?s meeting ended: “I am not confident of an Continue Reading
OPEC yet to agree on final deal as Iran seeks exemptions
Saudi Arabia’s energy minister said he wasn’t confident OPEC would reach a deal on Friday to cut oil output as sources said the producer group’s leader had yet to agree Continue Reading