Iran rules out OPEC deal as Russia, Saudi push for oil output hike
Iran said on Tuesday OPEC was unlikely to reach a deal on oil output this week, setting the stage for a clash with Saudi Arabia and Russia, which are pushing Continue Reading
OPEC Confident Global Oil Demand Will Stay Strong
An OPEC technical panel has found that global oil demand is on pace to stay strong in the second half of this year, suggesting that the oil market could comfortably Continue Reading
Keeping OPEC/non-OPEC oil output cuts could lead to severe Q3 market tightness: Novak
Peak summer demand could drain global oil inventories to critical levels if the OPEC/non-OPEC coalition leaves its production cut agreement in place, Russian energy minister Alexander Novak said Tuesday. That Continue Reading
Saudi struggles for Gulf oil producers’ support ahead of OPEC meeting
Saudi Arabia is struggling to convince fellow OPEC members including Gulf allies on the need to raise oil output, sources familiar with the talks said on Wednesday, adding to complications Continue Reading
OPEC, Russia Promise More Oil, but Can They Pump Enough?
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
OPEC Guide
Changing output policy will increase supply of sour crudes Huge imbalance between sweet, sour crudes Growing glut of sweet crudes in Atlantic Basin The oil market currently bears a very Continue Reading
Any OPEC outcome except free-for-all could help US shale producers
US shale oil producers will likely benefit from any decision OPEC makes this week in Vienna, with the exception of a complete breakdown in unity that created the current supply Continue Reading
Ignore the OPEC Drama, More Oil Is Coming
OPEC is back to its squabbling ways after an unusual period of near harmony. But investors who are bidding up oil prices in the expectation of a split are misunderstanding Continue Reading
Iran Looks To Veto Saudi, Russian Oil Production Proposal
In the latest signal that the upcoming OPEC+ meeting in Vienna could end in disaster, Iran’s OPEC representative said the country will veto any proposal for a production increase with Continue Reading
Saudi Arabia, Russia seek 1.5 million bpd OPEC, non-OPEC output increase: Ecuador
Russia and Saudi Arabia have put forward a proposal to increase production by OPEC and non-OPEC countries by 1.5 million barrels per day, Ecuador’s oil minister said on Monday. Carlos Continue Reading