OPEC+ Will Not Be Formalized
OPEC and Russia-led non-OPEC oil producers are highly unlikely to create some kind of a formal joint organization for managing the oil market, due to the additional bureaucracy and to Continue Reading
What’s In Store For OPEC In 2019?
OPEC has come through some turbulent times in the last few years as oil prices fell to decade lows. It has implemented production cuts, has rallied Russia to climb onboard Continue Reading
Energy Minister: OPEC+ Deal Has Brought Russia $120 Billion
Russia’s budget has received an additional US$120 billion since Moscow’s cooperation deal with OPEC started two years ago, Russian Energy Minister Alexander Novak told local business daily Kommersant in a Continue Reading
The Biggest Oilmen Of 2018
This year has been a crazy ride for the oil industry, which saw the price of Brent crude seesaw from $66.87 on the first day of the year, to a Continue Reading
OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls
Just a couple of weeks after OPEC and its partners agreed to implement another round of production cuts, the cartel is ready to extend these cuts as international prices continue Continue Reading
The Key Swing Producer Behind The OPEC+ Deal
Russia continues to be the key partner of OPEC and its largest producer Saudi Arabia in managing the oil market. For a second production cut deal in a row, Moscow Continue Reading
OPEC+ will hold extra meeting if output cuts ‘not enough’: UAE
OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per Continue Reading
IEA’s WEO Presents Three Futures of World Oil Demand
You know the old adage, it takes two to tango. In the global oil market, this means the dance between supply and demand. As analysts and commentators analyzed the recent Continue Reading
IEA Head: U.S. Oil Production To Rise, Venezuela To Fall Further
U.S. oil production will continue to grow at a rapid pace until 2025, while Venezuela’s crude output is set for further declines, Fatih Birol, the Executive Director of the International Continue Reading
OPEC to release country quotas for oil output cut: document
Oil producer group OPEC plans to release a table detailing voluntary output cut quotas for its members and allies such as Russia in an effort to shore up prices, OPEC’s Continue Reading