U.S. oil industry regulators opened a dialogue with OPEC in talks that could help foster a truce between the world’s three largest oil producers and potentially resolve a Saudi-Russian price Continue Reading
Rosneft CEO Igor Sechin said Friday that OPEC+ has lost its ability to influence the market, but the world’s biggest oil producers should continue to talk. Receive daily email alerts, Continue Reading
U.S. antitrust laws prevent a formal deal and there is no suggestion the two sides would coordinate on production decisions. But the Texas regulator is considering curtailing output in America’s Continue Reading
The March 18 meeting of the OPEC+ panel monitoring the oil market and producers’ compliance with quotas has been canceled, a source in one delegation told Russia’s news agency TASS Continue Reading
This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will Continue Reading
Despite the break-up of the OPEC+ production cut agreement, “the doors aren’t closed” to future cooperation between Russia and OPEC, Russia’s Energy Minister Alexander Novak told local news channel Rossiya Continue Reading
Talks between Opec and Russia over whether to cut oil production in response to the coronavirus outbreak collapsed without a deal on Friday, sending crude prices plunging more than 9 Continue Reading
OPEC+ oil producers overcomplied with their collective production cut deal in January, thanks to overcompliance from OPEC members, Russia’s TASS news agency reported on Friday, quoting two sources in OPEC+ Continue Reading
The coronavirus outbreak is dealing a heavy blow to global oil demand, which is now expected to grow by just 480,000 bpd in 2020, compared to expectations of 1.1-million-bpd growth Continue Reading
Saudi Arabia has put all of its eggs in Vladimir Putin’s basket, allowing the Russian president to decide the course of the OPEC+ alliance’s production policy and, indeed, whether their Continue Reading
