U.S.-Russian relations took a turn for the worse over the past week after American airstrikes in Syria. U.S. Secretary of State Rex Tillerson is in Moscow this week for discussions. Continue Reading
U.S. oil exports jumped to a record high in February, rising by a whopping 35 percent from a month earlier. At over 1 million barrels per day (mb/d), the U.S. Continue Reading
Non-OPEC Oman will continue to cap its crude oil output at 970,000 bpd this year if OPEC and non-OPEC countries were to extend the production cuts through the end of Continue Reading
OPEC Secretary General Mohammed Barkindo said he has emerged “encouraged” from a meeting over the weekend with Iraqi officials about the country’s compliance levels with the OPEC/non-OPEC production cuts agreed Continue Reading
Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo. “I remain Continue Reading
The International Energy Agency (IEA) does not expect a major increase in global oil prices despite efforts by OPEC and non-OPEC members to reduce output, its executive director Fatih Birol Continue Reading
Top Oil Ministry officials say Iraq is fully complying with an agreement to cut production. A worker checks the valve gears of pipes linked to oil tanks at Turkey’s Mediterranean Continue Reading
Russia has cut crude oil production by 200,000 barrels daily , Energy Minister Alexander Novak said. That’s two-thirds of the amount it agreed to cut under the OPEC-non-OPEC agreement closed Continue Reading
OPEC oil output is likely to fall for a third straight month in March, a Reuters survey found on Wednesday, as the United Arab Emirates made progress in trimming supplies Continue Reading
Major oil traders gathered in Switzerland this week said they expected OPEC and non-OPEC producers to extend their pact to curb output in the second half of this year, providing Continue Reading
