OPEC+ debates biggest-ever oil cut, awaits U.S. efforts
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of worldwide supply in what they expect will be a global Continue Reading
The OPEC Meeting Could Send Oil Prices Crashing Below $10
The current optimism of analysts and the media that an end to the ongoing OPEC+ oil price spat is near is entirely unjustified. The ongoing oil market volatility, the battle Continue Reading
Saudi Arabia, Russia Press U.S. to Coordinate Oil Cuts, Pushing Up Prices
Saudi Arabia and Russia are pressing the U.S. to coordinate oil output cuts in an attempt to stabilize prices, OPEC officials said, as the demand for crude plummets amid the Continue Reading
U.S. Energy Chief Tells Industry He Sees Oil Deal Within Days
Energy Secretary Dan Brouillette told oil industry representatives Friday that he expected a Saudi-Russia deal on crude production cuts within days. Brouillette’s comments came during a conference call with a broad Continue Reading
Putin says oil supply cuts possible if all major producers take part
Vladimir Putin said a cut to global oil production of about 10m barrels a day is possible, but only if all major crude producers including the US join in the Continue Reading
Putin Says Russia Is Willing to Join Oil Production Cuts: Live Updates
Putin urges the United States to participate in oil output cuts. The United States should join with Russia and the Organization of the Petroleum Exporting Countries in cutting crude oil Continue Reading
Russian Oil Firms Ready To Agree To A Production Cut Deal
With oil prices below Russia’s budget breakeven and with over 20 percent of global oil demand wiped out by the coronavirus pandemic, Russian oil firms could be ready to participate Continue Reading
OPEC+ plans extraordinary meeting Monday via webinar to discuss oil cuts
The OPEC+ alliance plans an extraordinary meeting Monday via webinar to try and broker a deal on production cuts, according to delegates, following mediation by US President Donald Trump this Continue Reading
OPEC February Production Data
It is thousand barrels per day and is through February 2020. The OPEC data no longer includes Ecuador. OPEC 13 was down 546,000 barrels per day in February. The only Continue Reading
OPEC-Shale Peace Prospects Crumble Hours After Historic Call
Just hours after one of the most powerful officials in the biggest U.S. oil state was invited to OPEC’s inner sanctum in June, propspects for a rapprochement between two historically Continue Reading