Saudi Arabia, Russia and the U.S. agreed to lead a multinational coalition in major oil-production cuts after a drop in demand due to the coronavirus crisis and a Saudi-Russian feud Continue Reading
Saudi Arabia and Russia ended their oil price war on Sunday by finalising a deal to make the biggest oil production cuts in history, following pressure from US President Donald Continue Reading
OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow Continue Reading
The agreement to cut global crude oil output, reached amid high drama over the Easter weekend, appears effectively to be in two parts. A short-term agreement that’s probably not enough, Continue Reading
The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual Continue Reading
Fadhel says talks ongoing, but OPEC+ ready to act Russian rhetoric seen as negotiating tactic Kuwait production could hit 3.30 mil b/d in April London — The 23-country OPEC+ alliance Continue Reading
The G20 group of leading world economies will host an extraordinary energy ministers’ meeting Friday to discuss OPEC-led plans for a global crude production cut accord aimed at shoring up Continue Reading
OPEC’s ambitions for expanded global production cuts to level out the oil market’s coronavirus nosedive remain in the balance, with countries still far apart on many details — not least Continue Reading
The world’s largest oil producers are inching closer to an unprecedented global deal to rescue the energy industry from collapse after the U.S. said production will drop dramatically. While the forecast reflects Continue Reading
A globally coordinated oil production cut is “likely” but would fail to deliver the kind of reduction needed to balance the crude market, Goldman Sachs’ global head of commodities Jeff Continue Reading
