OPEC has asked on Monday for a timely settlement to the tensions that have flared up between the United States and Iran and Venezuela, Anadolu Agency reported on Monday, citing Continue Reading
A form of cognitive dissonance seems to be taking over oil market watchers, a sort of a blind belief that US shale oil production is set to grow, and grow Continue Reading
OPEC’s crude oil production dropped to below 30 million bpd in June, down by 170,000 bpd from May and the lowest monthly output since April 2014, as higher Saudi oil Continue Reading
OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to U.S. sanctions and Continue Reading
Excess inventories, weakening demand growth, and oil prices some $15 a barrel lower than this time last year left OPEC and its allies little choice but to roll over their Continue Reading
While OPEC and its allies successfully reached a deal to extend its production cut quotas into 2020, the oil price response was markedly disappointing, leaving the market to wonder if Continue Reading
OPEC and its partners came into their meetings this week in Vienna aiming to show the oil market some muscle; they left with oil prices falling. The 24-country coalition, which Continue Reading
Early on Tuesday, following their meeting in Vienna, the Organization of Petroleum Exporting Countries (OPEC) announced a nine-month extension to the existing agreement to limit oil production. The initial deal Continue Reading
OPEC on Monday approved a nine-month extension of its production cut agreement after a seven-hour meeting, renewing its commitment to shoring up oil prices at the expense of its market Continue Reading
OPEC and its partners have decided to roll over the existing production cut agreement for another 9 months. After weeks of deliberations, infighting, global pressure and media hype, OPEC and Continue Reading
