Oil production from Iraq and Saudi Arabia will remain subdued until the markets reach a target level that indicates a balanced market, leaders said. Saudi Prince Mohammed bin Salman bin Continue Reading
OPEC crude oil production rose further in July, in the latest sign the cartel’s efforts to reduce output and drain a global supply glut are falling short. The Organization of Continue Reading
All data is through July 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the 14th member of OPEC that was just Continue Reading
OPEC confirmed reports that its crude oil production increase last month, reporting a daily rate of 32.869 million barrels, up by 172,600 bpd. Global commercial oil stocks in the OECD Continue Reading
Crude oil prices move into negative territory early Monday as some market analysts say they’re seeing a ceiling start to emerge over the recent rally. File photo by Monika Graff/UPI Continue Reading
OPEC and non-OPEC officials were holding a second day of meetings in Abu Dhabi to discuss ways to boost compliance with their oil output-cutting pact, sources familiar with the talks Continue Reading
OPEC and non-OPEC officials were holding a second day of meetings in Abu Dhabi to discuss ways to boost compliance with their oil output-cutting pact, sources familiar with the talks Continue Reading
Iraqi oil minister Jabar al-Luaibi departed for Saudi Arabia on Tuesday where he will meet his counterpart Khalid al-Falih to discuss oil market developments and OPEC’s efforts to stabilize the Continue Reading
The lowered exports of OPEC heavy crude grades to North America are tightening the price spread between WTI and Western Canadian Select (WCS), cutting into the refining margins of U.S. Continue Reading
OPEC and other big oil producers are facing a new high-wire act: how to keep the oil market calm if they decide to lift their output curbs and ramp production Continue Reading
