OPEC Economic Panel Recommends Output Cut From October Levels
OPEC and its Russia-led allies are meeting Dec. 6 and Dec. 7 in Vienna to debate cutting as much as 1.4 million barrels a day from their collective output, after Continue Reading
Saudi Arabia Squeezed As OPEC Meeting Nears
Oil prices dipped over the week, but the next few days will be volatile due to escalating geopolitical concerns and trade war tensions. Oil prices dipped in early trading, but Continue Reading
Russia’s Oil Minister: Oil Prices Are Good Where They Are
“In my view, the current price range of oil is comfortable for both producers and consumers,” said Russia’s Energy Minister Alexander Novak in an interview with news agency TASS. The Continue Reading
Saudi energy minister goes to OPEC with a weak hand: Kemp
Saudi Arabia’s energy minister, Khalid al-Falih, must play a bad hand of cards as well as he can at next week’s meeting of OPEC and non-OPEC oil producers in Vienna. Continue Reading
OPEC says low prices hurt US shale companies too, boosting the case for oil output cuts | S&P Global Platts
Prices below $60/b are hurting US shale producers and potentially strengthening OPEC’s hand to introduce tighter quotas and output cuts when the group and its allies meet next week, according Continue Reading
Exclusive: Russia accepts need for oil cuts, bargains with Saudi on details – sources
Russia is becoming increasingly convinced it needs to reduce oil output in tandem with OPEC but is still bargaining with the producer group’s leader, Saudi Arabia, over the timing and Continue Reading
Oil investors still on edge, waiting on OPEC’s word
Global oil markets are nervously eyeing OPEC’s upcoming meeting for clarity on future supply as the dust settles after a full-fledged rout in crude markets over the last several weeks. Continue Reading
Gazprom Neft’s thirst for oil shows Russian dilemma on OPEC pact
In the green-to-golden steppe some 1,500 km east of Moscow, a unit of Gazprom Neft, Russia’s third-biggest oil producer, is drilling hard as it eyes a production hike of 20 Continue Reading
Russia oil minister met producers to discuss OPEC cooperation – sources
Russian Energy Minister Alexander Novak met Russian oil companies on Tuesday to discuss cooperation between OPEC and non-OPEC oil producers, according to two sources who were informed that the meeting Continue Reading
Column: Oil market power ebbs from OPEC to the troika
The Organization of the Petroleum Exporting Countries has been marginalized as critical decisions about the oil market are taken by a troika of the United States, Russia and Saudi Arabia. Continue Reading