All eyes on oil supply after Opec deal to boost output
What does the supply picture look like? The prospect of an extra 1m barrels per day of oil hitting the market would normally be considered uniformly bearish for prices. But Continue Reading
OPEC agrees ouput rise of ‘about’ 1 mln barrels -Saudi
High oil prices hurting fiscal balance, says Pradhan “We will do whatever is needed to maintain market stability and ensure that there are no oil supply shortages”, Saudi Prince and Continue Reading
Iran says OPEC agreement did not specify oil production increase
Iran’s oil minister said that OPEC’s oil output agreement did not specify a production increase and that a figure of 800,000 barrels per day (bpd) was an interpretation by some Continue Reading
Washington and West Texas on the minds of OPEC ministers in Vienna
A major US driller delivered a message to OPEC last week in Vienna, urging the oil ministers to increase production to prevent a price spike that would damage both groups Continue Reading
Why OPEC+ Needed To Add More Oil
The OPEC+ group has decided to increase output by aiming to return compliance back to 100 percent , rather than the “over compliance” the group has posted to date. Although Continue Reading
OPEC production increase shows it’s still fighting U.S. shale oil
It felt like opposite day as traders bid up the price of oil last week even as OPEC announced an increase in oil production that should have sent prices downward. Continue Reading
Russia invited to be OPEC observer by Saudi Arabia: energy minister Novak
Saudi Arabia has invited Russia to become an observer member of OPEC, Russian energy minister Alexander Novak said Saturday. The move would add the world’s largest oil producer as a Continue Reading
The OPEC Agreement Puts A Floor Under Oil Prices
Since its December 2016 oil production-cut deal came into effect, the Organisation of Petroleum Exporting Countries (OPEC) has seen crude oil prices more than double, following the market rebound from Continue Reading
Iran sees little extra oil if OPEC, partners stick to deal
Iran said on Saturday the world will see little extra oil reaching the market if OPEC and its partners adhere properly to a supply pact, underlining a disagreement with top Continue Reading
Trillions of dollars in investments needed in oil, OPEC says
Trillions of dollars of investments are needed to keep pace with global oil demand expectations, OPEC’s president said. File Photo courtesy of OPEC June 22 (UPI) — Given the pace Continue Reading