Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia and others seeking to boost global energy prices. The meeting of Continue Reading
Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in Continue Reading
OPEC’s strategy in the past has been to alter its oil production in order to bring about market stability. However, the rise of U.S. shale oil forced the cartel to Continue Reading
A growing scarcity of oil storage space is driving some of the world’s biggest crude producers to negotiate a truce this week in a Saudi-Russian fight for market share that Continue Reading
The Saudi-led Organization of the Petroleum Exporting Countries will convene a virtual meeting on Thursday with other oil-producing nations including Canada and Russia, aiming to negotiate a truce in a Continue Reading
OPEC and its allies are regrouping over the weekend following signals from US President Donald Trump that American producers would not be joining any production cut and a rift between Continue Reading
The first three months of 2020 have shocked the global energy market to its foundations. The toxic mix of coronavirus, a global economic recession, and an unexpected OPEC+ price spat Continue Reading
Russia still supports talks with other leading oil producers on stabilizing the market, Kremlin spokesman Dmitry Peskov said Sunday. “Russia was not a supporter of ending the OPEC+ deal. President Continue Reading
OPEC will invite the U.S. oil regulator to take part in the emergency OPEC+ video meeting on Monday, a source involved in the preparation of the meeting told Russian news Continue Reading
OPEC and its allies will not hold their emergency virtual meeting on Monday and will likely postpone it until April 8 or 9 to allow more time for negotiations among Continue Reading
