OPEC Considers Extending Production Cuts Till End-2019
OPEC and its partners may decide to keep the oil production cuts until the end of the year as the cartel fears a steep price drop if cuts were to Continue Reading
Analysis: Saudi energy minister says world does not need any more oil in coming months
Supply risks abound from Iran to Venezuela to Libya and the peak summer oil demand season is just around the corner, but Saudi energy minister Khalid al-Falih still sees a Continue Reading
Saudi Arabia says oil producers want to reduce inventories
Saudi Energy Minister Khalid al-Falih said on Sunday there was a consensus among OPEC and allied oil producers to drive down crude inventories “gently” but his country would remain responsive Continue Reading
Analysis: Saudi energy minister says the world does not need any more oil in coming months
Supply risks abound from Iran to Venezuela to Libya and the peak summer oil demand season is just around the corner, but Saudi energy minister Khalid al-Falih still sees a Continue Reading
Soaring oil prices cast shadow on US ahead of Opec meeting
In November 2018, Donald Trump tweeted : “Oil prices getting lower … a tax cut for America and the world! Enjoy! $54 … Thank you to Saudi Arabia.” Five months Continue Reading
Exclusive: Saudi’s Falih says oil stocks still building, but OPEC to act if needed
Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil market’s needs, but that he was not sure there is an oil shortage Continue Reading
Russia Finally Brings Oil Production Below OPEC+ Cap
A month before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in Continue Reading
OPEC To Meet In Saudi Arabia To Discuss ‘Oil Supply Security’
As a panel of OPEC and Russian ministers is meeting this weekend in Saudi Arabian city of Jeddah to assess oil market conditions ahead of the full OPEC+ meeting in Continue Reading
Russia Hints At OPEC+ Deal Exit
OPEC’s key ally in all production cut agreements since 2017—Russia—appears to have somewhat reluctantly agreed to cut output in each of the OPEC/non-OPEC pacts over the past two years. Now Continue Reading
OPEC April Production Data
The data below was taken from the OPEC Monthly Oil Market Report . All data is through April 2019 and is in thousand barrels per day. The data is crude Continue Reading