OPEC brought its oil production down to 29.876 million barrels per day in May according to the latest edition of OPEC’s Monthly Oil Market Report (MOMR) released on Thursday—a five-year Continue Reading
For all the geopolitical acrimony between the two countries, on the matter of OPEC oil production policy Saudi Arabia and Iran would appear aligned. Slumping prices and persistent builds in Continue Reading
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran Continue Reading
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran Continue Reading
Russia is not ready to commit to further production cuts under an OPEC/non-OPEC supply accord, with the oil market facing many uncertainties in the months ahead, the country?s energy minister Continue Reading
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
