A monitoring committee for an OPEC and non-OPEC oil supply reduction deal found compliance with the cuts at 83 percent, four delegates from the group told Reuters on Wednesday. The Continue Reading
Even as oil-producing states in OPEC and beyond begin implementing the output cuts they agreed in December, the world’s need for their crude is shrinking further, suggesting that they will Continue Reading
Goldman Sachs thinks Saudi Arabia is leading oil cartel Opec in a policy of “shock and awe,” making bigger than expected supply cuts in an effort to lift pnces. Khalid Continue Reading
Quality matters, not quantity. That was the message from the International Energy Agency (IEA) in its latest Oil Market Report. The world has plenty of oil, but perhaps not the Continue Reading
Russian Energy Minister Alexander Novak said on Thursday that there are risks for global oil markets from the political crisis in Venezuela, yet there are no proposals to reverse the Continue Reading
OPEC is having some success in heading off another oil market downturn, but over the medium-term the cartel faces much more serious risks. “OPEC’s production growth outlook over the medium Continue Reading
Venezuela’s Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his country’s oil industry, citing their impact on oil prices and potential risks for other members of the Continue Reading
The Kremlin said on Tuesday there were no substantial talks currently taking place to establish an alliance between Russia and OPEC. Energy Minister Alexander Novak said in December it was Continue Reading
Rosneft’s chief executive Igor Sechin wants Russia to quit its production control deal with OPEC, Reuters reported last week, citing sources that have seen a letter Sechin wrote to President Continue Reading
Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel. On Thursday, the House Judiciary Committee passed a bill that would allow the Continue Reading
