The New Oil Cartel Threatening OPEC
When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern Continue Reading
OPEC oil output climbs in June as Saudi opens taps: Reuters survey
OPEC oil output rose last month as Saudi Arabia pumped at a near-record rate, a Reuters survey found on Monday, a sign the world’s top exporter is heeding calls from Continue Reading
Saudi-Russian axis rules oil markets as Trump fights Iran
Iran may be Russia’s ally in the Syrian conflict but when it comes to oil, Tehran’s arch-enemy Saudi Arabia takes precedence – if last week’s OPEC meeting in Vienna is Continue Reading
Goldman Sachs Says U.S. Oil Drama Trumps OPEC’s Vienna Chaos
The most dramatic events in the oil market last week occurred in North America as opposed to OPEC’s get-together in Europe, according to Goldman Sachs Group Inc. The bank says Continue Reading
This Isn’t Your Father’s OPEC Anymore
Judging from its series of consequential meetings last week in Vienna, OPEC seems to have confirmed that the rumors of its death have been greatly exaggerated. The important thing to Continue Reading
Iraq says will work with OPEC on output to keep oil prices stable
Iraqi Prime Minister Haider al-Abadi said on Wednesday that Iraq would cooperate with OPEC and non-OPEC states to maintain oil price stability and prevent further price hikes. OPEC states, Russia Continue Reading
The Bullish Truth Of OPEC’s Agreement
Oil prices jumped 5 percent on Friday after the OPEC+ group announced its vague decision to maintain its collective target while lifting country-specific limits on oil production. The result was Continue Reading
All eyes on oil supply after Opec deal to boost output
What does the supply picture look like? The prospect of an extra 1m barrels per day of oil hitting the market would normally be considered uniformly bearish for prices. But Continue Reading
OPEC agrees ouput rise of ‘about’ 1 mln barrels -Saudi
High oil prices hurting fiscal balance, says Pradhan “We will do whatever is needed to maintain market stability and ensure that there are no oil supply shortages”, Saudi Prince and Continue Reading
Iran says OPEC agreement did not specify oil production increase
Iran’s oil minister said that OPEC’s oil output agreement did not specify a production increase and that a figure of 800,000 barrels per day (bpd) was an interpretation by some Continue Reading