Saudis, Gulf OPEC Members Offer To Cut 4% Of Oil Output
Just when a potential OPEC deal was looking more like wishful thinking than a reality, sources told Reuters on Thursday that Saudi Arabia and its Gulf OPEC producer allies had Continue Reading
Would the US ever attend an OPEC meeting?
The recent invitation by OPEC for US officials to join in production freeze talks is clearly a nod to the production powerhouse Americas has become as a result of the Continue Reading
OPEC May Need Help to End the Global Glut of Oil
Algiers deal aims to fix unprecedented oil-inventory glut Even the maximum cut OPEC’s considering wouldn’t achieve this Even if OPEC defies a skeptical market by implementing output cuts in full, Continue Reading
OPEC Is at ‘Hardest’ Stage in Its History, Chief Barkindo Says
Secretary-general comments after meeting Iraqi oil minister Minister Al-Luaibi ‘optimistic’ nations can reach output deal OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members Continue Reading
Iraq seeks OPEC deal that would preserve oil output
The OPEC logo is seen outside their headquarters in Vienna, Austria, October 24, 2016. Iraq told a top OPEC official on Tuesday of its hope that the group could reach Continue Reading
Saudi Arabia Faces Tough OPEC Equation With Mounting ‘Exemptions’
OPEC must reduce output by at least 1.3 million barrels a day Iraq joins list of nations seeking exemption from Algiers deal Saudi Arabia faces the prospect of much deeper Continue Reading
Iraq Balks at Joining OPEC Cuts, Making Output Deal Harder
Country says it pumped 4.7 million barrels a day in September OPEC cuts shouldn’t be at Iraq’s expense: Minister Al-Luaibi OPEC’s second-largest producer threw an obstacle in the group’s path Continue Reading
OPEC SecGen sees chance of a smooth oil output deal in November
People carrying umbrellas walk by the Ogranization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria October 4, 2016. OPEC should be able to reach a deal next month Continue Reading
OPEC To Decide On US Joining Vienna Talks After Presidential Vote
OPEC will wait until after the U.S. presidential election on November 8 before deciding whether it will invite the US head of state to attend the cartel’s Vienna meeting on Continue Reading
Oil Won’t Crash Before The OPEC Meeting
As we reported last week, just as OPEC announced a new monthly production record, with total output rising by 220kbpd to a record 33.4mmbpd… (Click to enlarge) … driven by Continue Reading
OPEC Spat Over Production Data Grows as Iran Rejects Estimates
OPEC’s struggle with the first step of its new production deal — agreeing on how much its members are pumping — deepened as Iran became the third nation to openly Continue Reading
OPEC Reversal Is Gift to Oil Majors After 2 Years of ‘Hell’
Group surprised market last month with plan to cut production Big Oil must invest to avoid supply crisis, Dogma Capital says When the bosses of the world’s biggest oil companies Continue Reading
Iran calls OPEC’s decision to limit output ‘baby step in right direction’
Iran’s deputy oil minister said on Monday that the OPEC’s primary agreement in Algeria to limit oil output at 32.5 million barrels per day was a small step but in Continue Reading
OPEC Won’t Have Much Sway On Oil Prices
Offshore drilling platform by night In sticking with our recent $42-$50 forecast for WTI we underestimated the ability of OPEC + Russia to talk the market up while behaving bearishly. Continue Reading
Can We Trust The Saudis To Stick To The OPEC Deal?
Saudi Oil Minister As Saudi Arabia leads the Organization of Petroleum Exporting Countries in developing a six-month freeze deal, investors and industry officials should consider one key factor before rocking Continue Reading
OPEC says it pumped 33.39 mil b/d in Sep, up 220,100 b/d from Aug
OPEC’s two largest oil producers Saudi Arabia and Iraq told the oil producer group that their production continued to be at elevated levels, helping the organization’s output to rise sharply Continue Reading
OPEC-Russia Roadshow Heads to Vienna for Key Oil-Cuts Talks
OPEC’s effort to secure cooperation of non-members in a global deal to curb crude output will roll on from Istanbul to Vienna, with Russia on board but growing internal differences Continue Reading
OPEC says it raises oil output, despite deal to cut
OPEC reported an increase in its oil production in September to a multi-year high and raised its forecast for 2017 non-OPEC supply growth, pointing to a larger surplus in the Continue Reading
OPEC-Russia Roadshow Heads to Vienna for Key Oil-Cuts Talks
OPEC’s effort to secure cooperation of non-members in a global deal to curb crude output will roll on from Istanbul to Vienna, with Russia on board but growing internal differences Continue Reading
OPEC Faces Half-Million-Barrel Dispute With Members on Cuts
Latest OPEC report shows wide discrepancy in output figures Iraq, Venezuela question estimates from ‘secondary sources’ The scale of the internal differences OPEC must resolve before securing a deal to Continue Reading
OPEC data show a cut is necessary to meet Algerian proposal
A production cut from members of the Organization of Petroleum Exporting Countries would be needed to meet an Algerian proposal, OPEC’s monthly report found. OPEC said in its monthly market Continue Reading
Saudis Leave Istanbul With Russia Pledge, OPEC Disputes to Solve
Khalid Al-Falih, Saudi Arabia’s energy minister, speaks during the 23rd World Energy Congress in Istanbul, Turkey, on Oct. 10. Russian companies fall into line as Putin backs supply accord Iraq, Continue Reading
Jefferies: OPEC Output Cut Unlikely
It’s unlikely that OPEC will be able to maintain its planned output cut, according to oil and gas analysts at investment bank Jefferies. It’s unlikely that the Organization of the Continue Reading
OPEC Members Raising Production Make Overall Cuts Harder
OPEC pumped oil at record-high volume last month, the International Energy Agency said Tuesday, and officials from three of its member countries say they plan to raise output in the Continue Reading
Saudis Leave Istanbul With Russia Pledge, OPEC Disputes to Solve
Khalid Al-Falih, Saudi Arabia’s energy minister, speaks during the 23rd World Energy Congress in Istanbul, Turkey, on Oct. 10. Russian companies fall into line as Putin backs supply accord Iraq, Continue Reading
OPEC, key producers to discuss six-month oil deal
OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Continue Reading
Could Falling Chinese Oil Production Kill The OPEC Deal?
Refining operation Dwindling Chinese oil production could lead the Organization of Petroleum Exporting Countries (OPEC) to delay a freeze deal further, as the Asian giant ramps up its own imports Continue Reading
Global oil producers say possible to reach output cut when OPEC meets
OPEC’s top oil producer Saudi Arabia said on Monday a global production deal to limit supplies could be reached by the group’s next formal meeting in November, when an invitation Continue Reading
OPEC chief says severe contraction of investment poses threat to oil supply
A sharp contraction in investments poses a threat to global oil supply, Mohammed Barkindo, secretary-general of the Organisation of the Petroleum Exporting Countries, said on Monday at the World Energy Continue Reading
Saudi Arabia’s Falih says OPEC should not crimp supply too tightly
Saudi Arabia’s Energy Minister Khalid al-Falih said on Monday that OPEC needs to ensure it does not crimp oil supply too tightly and give the market a harmful shock, and Continue Reading
OPEC Is Still Some Way Off an Oil Deal With Russia, Norway Says
‘Bit early to start celebrating’ amid OPEC differences: Lien Optimism of Saudis, Russians sent oil prices higher on Monday Norway, western Europe’s largest oil producer, said OPEC is still some Continue Reading
IEA says oil market may rebalance faster if OPEC sticks to target
Global oil supply could fall into line more quickly with demand if OPEC and Russia agree to a steep enough cut in production, but it is unclear how rapidly this Continue Reading
Goldman sees lower chance of oil market rebalancing in 2017
Goldman Sachs said a planned oil output cut by producer cartel OPEC and other exporters like Russia has become a “greater possibility”, but warned that any reduction likely won’t be Continue Reading
IEA Sees Oil Market Rebalancing Faster If OPEC Implements Deal
Group’s output likely to hover near record highs until Nov. OPEC has ‘effectively abandoned its free market policy’ Oil supply and demand could come back into balance earlier than expected Continue Reading
Goldman Sees Greater Chance of Oil Pact But Success in Doubt
Rising output from Libya, Nigeria cuts odds of rebalancing IEA’s Birol says $60 oil will boost N. American production There may be a higher probability of an agreement to cut Continue Reading
OPEC Members Raising Production Make Overall Cuts Harder
An oil pump in the desert oil fields of Sakhir, Bahrain. OPEC has exempted Libya,… LONDON—OPEC pumped oil at record-high volume last month, the International Energy Agency said Tuesday, and Continue Reading
OPEC Chief Says Cartel Lost US$1 Trillion To Oil Price Bust
OPEC meeting Due to the slump in oil prices, OPEC producers have lost more than US$1 trillion in revenues over the past three years, OPEC Secretary General Mohammad Barkindo has Continue Reading
Putin Says Russia Ready to Join OPEC Effort to Limit Oil Supply
Freeze or cuts are ‘only proper decision’ for current market Russia calls on other oil exporters to also limit production Russia, the world’s largest energy exporter, is ready to join Continue Reading
OPEC Guide
* Iraq output jumps to 4.4 mil b/d on Kirkuk exports * Saudi production falls 110,000 b/d * Recovery in Nigeria and Libya adds to OPEC share OPEC crude output Continue Reading
OPEC officials set for flurry of meetings to nail down Algeria deal
The OPEC and Algeria flags are pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. OPEC Continue Reading
Gunvor Doesn’t Expect OPEC to Meet Supply-Cut Targets in Vienna
Oil trader is bearish on crude oil prices in short term Iran, Iraq won’t cut production, Gunvor head of research says Gunvor Group Ltd., one of the four largest independent Continue Reading
OPEC could cut output more in Nov if needed: Algeria
A person carrying an umbrella walks by the Ogranization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria October 4, 2016. OPEC could cut production at its late November Continue Reading
OPEC Crude Accounts For Most Of U.S. Oil Imports Rise
Reversing a five-year-long decline trend, U.S. gross crude imports rose by 7 percent, or by 528,000 barrels per day, in the first half of this year compared to the same Continue Reading
The OPEC Deal Represents A Permanent Shift In Oil Markets
Market enthusiasm around the OPEC deal has vacillated significantly over the last week, alternating between optimism and pessimism. A healthy segment of investors view the current agreement with skepticism given Continue Reading
OPEC could cut output more in Nov if needed: Algeria
OPEC could cut production at its late November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers reckon it is needed, Continue Reading
OPEC, non-OPEC producers plan informal meet in Istanbul to discuss Algiers deal: Algeria
OPEC and non-OPEC oil producers plan an informal meeting in Istanbul Oct. 8-13 to discuss how to implement a production deal OPEC members reached in Algiers last month, Algerian Energy Continue Reading
OPEC Crude Output Rises to Record as Nigeria, Libya Boost Supply
Two members exempt from Algiers deal add 190,000 barrels a day Overall output gains even as Saudi Arabia cuts supplies OPEC crude production rose to a record in September, according Continue Reading
Will OPEC’s Gamble Pay Off?
The tentative deal that OPEC agreed to in Algeria last week has been met with a lot of skepticism , both because it might be difficult to finalize and because Continue Reading
An OPEC Output Cut Not Likely to Alter Oil Imbalance
An informal meeting of OPEC members took place Sept. 28 in Algeria, at which ministers… OPEC’s move to cut output might be too late. After pumping full tilt for the Continue Reading
OPEC oil output hits record on Iraq, Libya boost: Reuters survey
The word oil is pictured on an oil bank at a recycling yard in London March 2, 2011. OPEC’s oil output is likely to reach its highest in recent history Continue Reading