OPEC yet to agree on final deal as Iran seeks exemptions
Saudi Arabia’s energy minister said he wasn’t confident OPEC would reach a deal on Friday to cut oil output as sources said the producer group’s leader had yet to agree Continue Reading
New OPEC President Starts With a Disadvantage: He’s From Venezuela
It is a potentially explosive cocktail. “This is the last year you would want Venezuela as the president,” said Helima Croft, chief commodities strategist at Canadian broker RBC. Related: Is Continue Reading
OPEC works on deal to cut output, still needs Russia on board
OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a Continue Reading
As OPEC Meets, Sizing Up Its Power and Its Politics
On Thursday, over 200 oil industry representatives, financial analysts and journalists are expected to crowd into a basement auditorium at the headquarters of the Organization of the Petroleum Exporting Countries. Continue Reading
OPEC Oil Output Rises As Saudis Pump At Record While Iran Slumps
OPEC’s crude oil production increased by 40,000 bpd from October to 33.08 million bpd in November, as Saudi Arabia pumped at record highs, more than offsetting—together with the UAE—the drop Continue Reading
OPEC Urges Nigeria, Libya To Join Oil Production Cuts; Iran Balks
OPEC is trying to persuade Libya and Nigeria to join cuts if the cartel agrees to reduce production, delegates told S&P Global Platts , while the OPEC and non-OPEC leaders Continue Reading
OPEC, Russia move closer to cutting oil output
OPEC and Russia moved closer on Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. OPEC Continue Reading
Kuwait says long-term cooperation agreement expected between OPEC, non-OPEC countries
Kuwait’s oil ministry said on its Twitter account on Wednesday that a long-term cooperation agreement is expected to be signed between OPEC and non-OPEC countries. OPEC meets on Thursday in Continue Reading
Iran: Don’t Count On A New OPEC Deal
OPEC’s meeting this Thursday in Vienna may not lead to an agreement to start reducing production, Iran’s OPEC governor said, as quoted by S&P Global Platts. Hossein Kazempour Ardebili said Continue Reading
Could Iraq Be The Next OPEC Member To Exit?
Even more cracks may be forming within OPEC, even as market pundits continue to analyze Qatar’s decision two days ago to withdraw from the oil producing cartel. Michael Cohen, head Continue Reading