A major US driller delivered a message to OPEC last week in Vienna, urging the oil ministers to increase production to prevent a price spike that would damage both groups Continue Reading
The OPEC+ group has decided to increase output by aiming to return compliance back to 100 percent , rather than the “over compliance” the group has posted to date. Although Continue Reading
It felt like opposite day as traders bid up the price of oil last week even as OPEC announced an increase in oil production that should have sent prices downward. Continue Reading
Saudi Arabia has invited Russia to become an observer member of OPEC, Russian energy minister Alexander Novak said Saturday. The move would add the world’s largest oil producer as a Continue Reading
Since its December 2016 oil production-cut deal came into effect, the Organisation of Petroleum Exporting Countries (OPEC) has seen crude oil prices more than double, following the market rebound from Continue Reading
Iran said on Saturday the world will see little extra oil reaching the market if OPEC and its partners adhere properly to a supply pact, underlining a disagreement with top Continue Reading
Trillions of dollars of investments are needed to keep pace with global oil demand expectations, OPEC’s president said. File Photo courtesy of OPEC June 22 (UPI) — Given the pace Continue Reading
OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to Continue Reading
The Organization of the Petroleum Exporting Countries agreed in principle on Friday to raise output enough to match a production target it introduced at the beginning of 2017, but which Continue Reading
After a hectic week of unofficial meetings between OPEC members in Vienna, largely in and around the Hofburg, the former residency of the Austrian Emperor Franz Jozef and his wife Continue Reading
