A meeting of the Joint Technical Committee (JTC) of the OPEC and non-OPEC oil producers part of the supply-cut pact found on Thursday that oil inventories in developed economies had Continue Reading
A joint OPEC and non-OPEC ministerial committee established to monitor compliance with a global supply cut agreement plans to meet again in Algeria in late September, sources said on Friday. Continue Reading
The oil production cuts and healthy oil demand growth have helped the global inventory surplus to nearly vanish and it certainly looks very much like OPEC and allies have a Continue Reading
Saudi Arabia’s Energy Minister Khalid al-Falih said on Friday global oil inventories had declined from their peak but had not yet fallen far enough. “Today (inventories) are still about 2.8 Continue Reading
Talk of higher oil prices usually sends oil prices higher, and the situation was supported Wednesday by a drain on U.S. crude oil inventories. A surprise draw on U.S. crude Continue Reading
Iranian Minister for Oil Bijan Zanganeh sees the relationship with Russia blossoming as both countries face increasing economic pressure from the United States. File Photo by Maryam Rahmanian/UPI April 18 Continue Reading
While the continuing Russia-OPEC discussions are dominating headlines, with a focus on a possible extension of the oil production cut agreement into 2019, the market is far from stable. Growing Continue Reading
OPEC and allies will keep the oil production cuts through the end of 2018, and will discuss at their June meeting whether to extend those cuts further, Kuwait’s Oil Minister Continue Reading
The legacy of oil refining in India, one of the world’s largest economies, shows the industry can develop with little risk to the climate, OPEC’s leader said. Mohammad Barkindo, the Continue Reading
The International Energy Agency said in its latest Oil Market Report that the supply overhang has pretty much vanished, thanks to OPEC’s efforts at limiting production. “It is not for Continue Reading
