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
Saudi, Russian ministers hold bilateral meeting JMMC meets at 11 am local time (1000 GMT) OPEC meets at 3 pm (1400 GMT) Vienna — OPEC and its allies will discuss Continue Reading
Three days after oil tumbled following a Bloomberg report that Saudi Arabia was angry at its (N)OPEC co-members for not complying with production quotas, and was no longer willing to Continue Reading
Iraq, which has consistently violated its oil production quota under the OPEC+ supply accord, is urging other members to support deepening the group’s output cuts. The current 1.2 million b/d production Continue Reading
Iran would support a majority decision by members of the Organization of the Petroleum Exporting Countries to cut oil production, the country’s OPEC envoy said on Thursday, according to Iranian Continue Reading
Russia expects a constructive meeting with OPEC producers this week, its energy minister said on Tuesday, as OPEC leader Saudi Arabia presses members and allies such as Russia to deepen Continue Reading
The Organization of the Petroleum Exporting Countries and non-OPEC partners led by Russia, are now nearly two years into their production agreement and are expected to roll-over the accord through Continue Reading
Barring additional oil production cuts by OPEC in 2020, Rystad Energy forecasts a substantial build of global crude stocks and a corresponding drop in oil prices. A showdown is taking Continue Reading
OPEC is gearing up to deepen production cuts later this week but still needs to agree with allies such as Russia over details of a deal to support oil prices Continue Reading
Iraq and some other oil-exporting nations will support deeper production cuts from the Organization of the Petroleum Exporting Countries and its allies as the cartel attempts to shore up sagging Continue Reading
