Category: OPEC

After a prolonged oil price plunge, pushing price levels down to around $59 Brent per barrel, signs are showing that the market believes the downward trend has overshot its target. Continue Reading

Saudi Energy Minister Khalid al-Falih said Russia was the only remaining oil exporter still undecided on the need to extend the global output deal between OPEC and its allies until Continue Reading

The fact that Russia and most OPEC members are happy at different oil price levels has never been a secret. Now, President Putin has said it as bluntly as possible: Continue Reading

OPEC is ready to commit to an extension of its oil production cuts beyond their June expiry, Saudi energy minister Khalid al-Falih said Friday, but non-OPEC partners, led by Russia, Continue Reading

OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June, Khalid al-Falih, the energy minister of OPEC’s Continue Reading

Saudi Arabia said on Friday that OPEC and its allies should extend oil production cuts at around current levels as the kingdom did not want a fight for market share Continue Reading

Many oil exporting countries have confirmed they are prepared to hold a policy meeting with OPEC in Vienna over July 2-4, instead of the scheduled date later this month, Russian Continue Reading

Saudi Arabia and Russia—the world’s top crude exporters—disagree about how to respond to a free fall in oil prices, and their energy ministers are set to meet in Russia in Continue Reading

Russian President Vladimir Putin on Thursday laid the onus on Saudi Arabia to make the case for continuing a supply cut agreement set to expire at month’s end, saying he Continue Reading

Lukoil CEO Vagit Alekperov said Thursday he saw no need for the OPEC/non-OPEC producer coalition to raise crude output, given the recent fall in oil prices, and indicated he would Continue Reading