Saudi Arabia’s Energy Minister Khalid al-Falih said on Friday global oil inventories had declined from their peak but had not yet fallen far enough. “Today (inventories) are still about 2.8 Continue Reading
Talk of higher oil prices usually sends oil prices higher, and the situation was supported Wednesday by a drain on U.S. crude oil inventories. A surprise draw on U.S. crude Continue Reading
Iranian Minister for Oil Bijan Zanganeh sees the relationship with Russia blossoming as both countries face increasing economic pressure from the United States. File Photo by Maryam Rahmanian/UPI April 18 Continue Reading
While the continuing Russia-OPEC discussions are dominating headlines, with a focus on a possible extension of the oil production cut agreement into 2019, the market is far from stable. Growing Continue Reading
OPEC and allies will keep the oil production cuts through the end of 2018, and will discuss at their June meeting whether to extend those cuts further, Kuwait’s Oil Minister Continue Reading
The legacy of oil refining in India, one of the world’s largest economies, shows the industry can develop with little risk to the climate, OPEC’s leader said. Mohammad Barkindo, the Continue Reading
The International Energy Agency said in its latest Oil Market Report that the supply overhang has pretty much vanished, thanks to OPEC’s efforts at limiting production. “It is not for Continue Reading
Oman’s oil minister Mohammed bin Hamad al-Rumhi called on all OPEC and non-OPEC producers who took part in the global supply cut pact to continue their cooperation to maintain suitable Continue Reading
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from Continue Reading
OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel’s agreement to cut production , even as the world’s total oil supply continued to Continue Reading
