Opec and allies including Russia agreed deeper than anticipated production cuts on Friday as producer nations seek to prop up crude prices in the coming months. Opec had reached a preliminary Continue Reading
An agreement to deepen oil production cuts by 500,000 bpd has put OPEC members at odds with each other as they try to hammer out the individual production quotas. The Continue Reading
OPEC, Russia and nine other allies delivered a new production cut deal Friday, just hours after it appeared their pact was close to unravelling. Oil prices rallied on the announcement Continue Reading
OPEC kingpin Saudi Arabia and key oil ally Russia on Friday finalized their new production quotas, according to a source involved in the talks, agreeing to deeper cuts to bolster Continue Reading
OPEC is considering deepening its output cuts to stave off a market slump in the months ahead, but its November crude oil production shows that it is already significantly overcomplying Continue Reading
A ministerial committee of OPEC and its partners led by Russia recommended that the OPEC+ oil production cuts be deepened by 500,000 bpd, two sources told Reuters on the sidelines Continue Reading
Top oil producers Saudi Arabia and Russia will seek approval for deeper output cuts from OPEC and allies on Friday in an attempt to support prices and head off a Continue Reading
Russia’s condensate production averaged 833,000 b/d in November, energy minister Alexander Novak said Friday. Stripping the November figure out from Russia’s previously reported oil output data shows that crude production Continue Reading
OPEC and its allies led by Russia were moving closer on Thursday to agreeing to deeper oil supply cuts next year to support crude prices and prevent a glut, sources Continue Reading
OPEC and its allies led by Russia will discuss on Thursday deepening oil cuts by more than 400,000 barrels per day, two sources from the OPEC+ group of oil producers Continue Reading
