On Friday, after reading the latest shift in the ever-changing, always fluid OPEC narrative, according to which Saudi Arabia now demands Iranian oil production cuts contrary to the agreement reached Continue Reading
The oil slump has hammered producers around the world, from giants like Royal Dutch Shell Plc to exploration minnows. After two tough years of falling oil prices and company valuations, Continue Reading
Whatever decision OPEC reaches on oil output at its meeting this week is likely … OPEC’s struggle to balance oil supply and demand globally is exposing economic fault lines around Continue Reading
OPEC’s top producer hints group won’t necessarily curb output Members adamant Moscow must cut for any supply accord to work OPEC surprised the market in September with a preliminary agreement Continue Reading
OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying Continue Reading
Whatever decision OPEC reaches on oil output at its meeting this week is likely … OPEC’s struggle to balance oil supply and demand globally is exposing economic fault lines around Continue Reading
Three days from a crucial meeting, OPEC’s deal to curb oil production and end years of global oversupply hangs in the balance . But even if ministers hash out a Continue Reading
OPEC is embarking on a last-ditch diplomatic push to reach a production cut, with ministers flying to Russia for talks, as Saudi Arabia for the first time suggested the oil-club Continue Reading
OPEC technical meeting begins in Vienna Saudi minister Falih downplays need for OPEC action Algeria, Venezuela ministers travel to Moscow Libya’s NOC says cannot cut for “foreseeable future” OPEC on Continue Reading
Bijan Namdar Zanganeh. Photographer: Akos Stiller/Bloomberg OPEC proposes 600,000 barrels a day cut for non-OPEC producers Iran hasn’t announced commitment to reduce its own production Iran is assessing a proposal Continue Reading
Russia is continuing consultations with OPEC aimed at stabilizing oil markets and is positive about a global deal, Energy Minister Alexander Novak said on Saturday. In a statement, his ministry Continue Reading
Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend scheduled talks in Vienna on Monday with non-OPEC oil producers, OPEC sources said on Friday. Continue Reading
New internal OPEC talks Monday after failure to reach accord Saudi Arabia, Iraq and Iran still disagree how to share cuts Saudi Arabia pulled out of planned talks with non-OPEC Continue Reading
Saudi Arabian oil officials have canceled a meeting Monday with their Russian counterparts, OPEC officials said, disrupting plans between the world’s two largest petroleum producers to coordinate output cuts meant Continue Reading
Wall st Oil prices fell on Friday morning after some bearish comments of Saudi Arabia but the odds of a substantial OPEC deal seem to have improved now Iraq is Continue Reading
Less than two weeks before OPEC’s next Most Important Meeting Ever the oil market is doubtful that the cartel will reach a meaningful supply reducing agreement. Traders have revealed skepticism Continue Reading
The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016. OPEC officials are struggling to reach a final agreement on how Continue Reading
U.S., European oil shipments to Asia increase amid global glut Market contango makes long-haul voyages viable for sellers Rivals of OPEC seeking to reach its most-prized oil customers are finding Continue Reading
OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to Continue Reading
The industry’s biggest ships, so-called very large crude carriers, are currently predicted to earn $31,000 a day in 2017, according to 13 analyst forecasts compiled by Bloomberg this month. As Continue Reading
Crude oil prices staged an abrupt retreat in early trading Tuesday as doubts lingered over OPEC coordination. Crude oil prices bounced around net gains and losses in the early rounds Continue Reading
OPEC officials are struggling to reach a final agreement on how to share out production cuts implied by the preliminary output accord agreed by ministers in September. In theory, all Continue Reading
An oil price surge triggered by a successful OPEC agreement to cut production could be snuffed out as supply surges back, according to the head of International Energy Agency. If Continue Reading
Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared Continue Reading
Prime Minister Haider Al-Abadi of Iraq addresses the United Nations General Assembly in the Manhattan borough of New York, U.S., September 22, 2016. Iraq is willing to cut its crude Continue Reading
For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it. Saudi Arabia, the bloc’s most powerful member, Continue Reading
OPEC may ask oil producers outside the cartel to make big cuts in output, Azerbaijan said on Thursday, highlighting the challenges in striking a deal as the two sides enter Continue Reading
Country urges OPEC to reduce output by 900,000 barrels a day Nation had previously insisted it should be exempt from cuts Iraq will shoulder part of the burden of oil-output Continue Reading
Russia has yet to plan how to freeze oil production and there has been no agreement among its leading producers on output curbs, three senior industry sources told Reuters on Continue Reading
OPEC talks in Vienna Tuesday didn’t resolve whether Iraq and Iran will join any production cuts, instead deferring the crucial matter to ministers who will meet on Nov. 30, said Continue Reading
Both Iraq and Iran seek exemptions to Saudi-backed output cuts Pair wields clout producing almost a quarter of OPEC supply Saudi Arabia’s dominance of OPEC isn’t what it once was. Continue Reading
OPEC experts have made some progress on the first day of a two-day meeting to nail down details of their plan to cut oil output, OPEC sources said on Monday, Continue Reading
The boost to oil prices from any potential OPEC agreement to curb supply when it meets next week will have only a short-term impact, Statoil’s chief economist said on Monday. Continue Reading
Oil traders and analysts grew more confident that OPEC will reach a deal to curb global oversupply next week as delegates said talks on assigning quotas to individual countries made Continue Reading
Goldman Sachs Group Inc. raised its oil-price forecast for early next year, while Russia, Iran and Iraq separately signaled optimism that producer nations will be able to reach a deal Continue Reading
Iraq may not be going rogue on the OPEC deal after all, and will apparently be putting up three new proposals for discussion at the cartel’s technical meeting in Vienna Continue Reading
With OPEC’s Nov. 30 meeting in Vienna just days away, the oil minister of Iran, a member state once reluctant to help the cartel gouge gas prices, announced his readiness Continue Reading
OPEC experts have made some progress on the first day of a two-day meeting to nail down details of their plan to cut oil output, OPEC sources said on Monday, Continue Reading
Oil rose a third day on signs OPEC members have made progress toward completing a deal to cut output. January futures climbed as much as 1.5 percent in New York Continue Reading
OPEC is likely to reach a consensus over the implementation of an output-cut accord later Tuesday, a Nigerian delegate said, ahead of a crucial summit to approve the final deal Continue Reading
The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016. An OPEC technical committee is discussing a possible six-month duration for Continue Reading
Iraq’s oil minister Jabar Ali al-Luaibi will make suggestions at a meeting of OPEC oil ministers at the end of the month to implement an agreement to restrain crude supply Continue Reading
OPEC meets in Vienna on Nov. 30 to discuss production limits Iran, Russia, Saudi Arabia have signaled optimism about deal Iraq, OPEC’s second-biggest producer, will offer proposals this month to Continue Reading
Iran’s Zanganeh says ‘highly probable’ OPEC will cut output Iraq will offer new plan for Vienna meeting, minister says Oil extended gains as Iran signaled optimism OPEC will agree to Continue Reading
Saudis seek collective curbs under ‘Four Pillar’ approach Iran and Iraq pose challenge, Russia participation in question OPEC says it’s close to a deal to cut oil output for the Continue Reading
Russian President Vladimir Putin said he sees no obstacles to an OPEC agreement this month after oil exporters made major progress in overcoming differences as he reaffirmed Russia is willing Continue Reading
OPEC member countries have proposed Iran cap its oil output at 3.92 million barrels per day (bpd) under a production-limiting deal for the whole group, a source familiar with the Continue Reading
No solution offered for Iran, Iraq’s resistance to output cuts Russia reiterated offer to accept a production ceiling OPEC said it made progress toward a deal to cut production by Continue Reading
Less than two weeks before OPEC’s next Most Important Meeting Ever the oil market is doubtful that the cartel will reach a meaningful supply reducing agreement. Traders have revealed skepticism Continue Reading
Major oil-producing nations could implement a freeze in output levels as a tool to bring the market back into balance, Russia’s energy minister said Friday. Ministers and representatives from oil-producing Continue Reading
