The Organization of the Petroleum Exporting Countries has been marginalized as critical decisions about the oil market are taken by a troika of the United States, Russia and Saudi Arabia. Continue Reading
Oil prices continue to plumb new depths, but some analysts think the selloff has gone too far. Brent prices fell to $62 per barrel by mid-week, hitting nearly a one-year Continue Reading
“Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!” President Continue Reading
Brent slumps over 6% to $58.45/b in London Concern on oversupply weigh on sentiment OPEC set for crunch meeting on December 6 London — OPEC is showing no public signs Continue Reading
Under such a scenario, the Organization of the Petroleum Exporting Countries would announce plans to retain current output targets, first set in 2016. That move would imply a production pullback Continue Reading
Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that he sees weak oil demand in January and said the kingdom would respond accordingly to cool the global market’s anxiety. Continue Reading
Baghdad — OPEC and its allies will work to stabilize the oil market and reverse the slump in prices when they meet in Vienna in two weeks, Iraq’s deputy oil Continue Reading
The Department of Justice is formally reviewing antitrust legislation aimed at reining in OPEC’s power over oil markets, according to a department official. While the study is ongoing, there is Continue Reading
OPEC will very likely agree to cut oil production at its upcoming meeting in early December, although the size of the cuts is yet to be decided, Ahmed al-Kaabi, Governor Continue Reading
Iraqi Deputy Oil Minister Fayadh al-Nema said on Wednesday that OPEC will work to stabilize oil markets, crude prices and supplies at its next meeting. “OPEC and non-OPEC producers will Continue Reading
