OPEC+ Gears Up For Production Cuts
Oil gained for a second day in a row on Tuesday, pushed up by a trade war truce, pending OPEC+ production cuts, and surprise mandatory output reductions in Canada. (Click Continue Reading
NOPEC Act Is A Big Concern For OPEC Members
A proposed U.S. legislation that could pave the way for suing OPEC for market manipulation is a “big concern” among the cartel and may weigh on the message from the Continue Reading
OPEC works on deal to cut output, still needs Russia on board
OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a Continue Reading
Saudi-Russia Ties Raise Concerns Among OPEC Members
“They have to stop doing this,” one OPEC official said, referring to private talks between Russia and Saudi Arabia. “It’s not justice. The lives of entire populations are at stake.” Continue Reading
The Most Likely Outcome Of The OPEC Meeting
The OPEC+ meeting is set to kickoff, with a press conference scheduled for Thursday afternoon in Vienna. While there seems to be a vague outline of an agreement in hand, Continue Reading
Pressure builds on Saudi oil minister at OPEC after Qatar snub
Shaken by Qatar’s surprise plan to drop out of the producer group, OPEC still needs to reassure a nervous oil market when it meets later this week. Responsibility for delivering Continue Reading
OPEC urges Libya, Nigeria to join oil output cuts
Highlights Both countries still want exemptions from quotas Output recoveries may weaken their cases Delegates say it’s time they help rebalance the market Vienna — Libya and Nigeria could be Continue Reading
OPEC works on deal to cut output, still needs Russia on board
OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a Continue Reading
Qatar’s OPEC Exit May Just Be The Beginning
Much has already been written over the last 24 hours by pundits and analysts alike about Qatar’s decision to leave the Organization of the Oil Exporting Countries (OPEC) by January Continue Reading
Gas-focused Qatar to exit OPEC in swipe at Saudi influence
Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the oil exporting group which is trying to show Continue Reading