OPEC+ Fails to Make Day 2 Deal
OPEC+ abandoned efforts to break a deadlock within the cartel for a second night, increasing the risk its failure to act will unleash an inflationary spike in oil prices. Friday’s Continue Reading
OPEC+ Fails to Reach Output Deal With Talks Kicked to Monday
OPEC and its allies abandoned oil-supply negotiations until Monday as a rebellion by a key member threatened the unity of the alliance. Talks ended without a deal to increase output Continue Reading
Opec talks end in deadlock over raising oil production
Opec and its allies failed to reach an agreement on raising oil production on Friday as talks hit a deadlock for a second day, with the UAE remaining opposed to Continue Reading
OPEC+ Oil-Supply Hike in Doubt as Key Member Blocks Deal
The OPEC+ alliance fell into bitter infighting after a key member blocked a deal at the last minute, casting doubt on the group’s ability to reach an agreement to ease Continue Reading
OPEC discussing deal to raise oil production by 2 million b/d by December: sources
Highlights Saudi Arabia seeking flexibility if Iran nuclear deal reached OPEC meeting in progress, Russia and other allies to join later Ministers also considering extending supply pact to end-2022 OPEC Continue Reading
OPEC+ seeks oil policy consensus as UAE demands changes
An OPEC+ deal to release more oil to the market and extend its supply management policy to the end of 2022 hinges on agreement from the United Arab Emirates (UAE), Continue Reading
OPEC+ may extend oil supply cuts amid warning of glut, sources say
OPEC+ is expected to discuss extending its deal on cutting oil supply beyond April 2022, two OPEC+ sources said on Wednesday, after a panel set up by the group warned Continue Reading
OPEC+ Fears Significant Oil Glut After April 2022
The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an internal Continue Reading
OPEC bullish on oil market recovery; virus variants pose risk
Global oil demand will rebound strongly in the second half of 2021 with oil inventories shrinking, OPEC’s chief and experts said on Tuesday while warning that coronavirus variants pose a Continue Reading
Will OPEC+ Meeting Outcome Cut Oil Price by $10?
The OPEC+ alliance of major oil producers is scheduled to meet virtually Thursday of this week, and oil market-watchers have been pondering what the group will decide. Below, two of Continue Reading