Summer best time to back out of OPEC deal, Russia says
It’s best to draw out of the OPEC-led effort to balance the market with production cuts during the summer when demand is high, Russia’s energy minister said. Russia is a Continue Reading
Mideast OPEC producers fret oil price rally may burn out
Middle East OPEC producers are concerned weak demand and excess supply in the first quarter of 2018 may undermine an oil price rally that has pushed Brent crude about 30 Continue Reading
As OPEC Compliance Peaks, Can The Drawdowns Continue?
Since it agreed to production cuts, OPEC stated that its mission is to see the oil futures curve flip from contango to backwardation as part of its work to erase Continue Reading
Tass: OPEC might extend production cut deal again
A source close to negotiations over an OPEC-led effort to balance the market with production cuts told Russian media Monday an extension was under review. The Organization of Petroleum Exporting Continue Reading
Opec has lost its crown as world’s top oil player
It’s happy days for Opec, but once the whoops die down, the group should take a long hard look at itself. Because it has lost its crown as the world’s Continue Reading
OPEC’s pact compliance ‘acceptable’, some changes needed: Iran minister
OPEC’s compliance with an agreement among oil producers to reduce output has been acceptable, Iran’s oil minister said on Monday, adding that some changes were needed if participants seek to Continue Reading
OPEC’s Premature Victory Lap
OPEC met on Friday to review the progress of their work over the past 9 months, assessing whether or not they should extend their current production cuts beyond the March Continue Reading
Iran Says OPEC Must Address Rising Libya, Nigeria Oil Output
OPEC backs any action to help stabilize oil market: Zanganeh Iraq to boost output capacity while committing to OPEC Cuts OPEC’s commitment to cutting production to clear a global glut Continue Reading
OPEC Seeks to Contain Its ‘Problem Children’
The oil refinery in Warri, Nigeria, pictured in August 2015, has roared back to life after years of neglect. Nigeria and Libya have added 550,000 barrels a day of crude-oil Continue Reading
OPEC says winning battle to end oil glut
OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output Continue Reading