OPEC questions take wind out of oil rally’s sails
Doubts about whether all parties to an OPEC-led agreement to cut production will do enough to balance markets pushed oil prices lower early Friday. Saudi Arabia, the de facto leader Continue Reading
OPEC: 50% Compliance To Output Deal Is ‘Enough’
Just two weeks into the OPEC supply-cut deal and a day after Saudi Arabia signaled that it had cut more than pledged, the cartel itself does not see more than Continue Reading
OPEC Takes Aim at its Biggest Problem: Oil Storage
A big obstacle is emerging for the Organization of the Petroleum Exporting Countries’ plan to raise oil prices with output cuts: vast global reserves of crude that threaten its power Continue Reading
Global oil flow trackers set to keep Opec honest
After the excitement around Opec agreeing oil supply cuts with Russia and other non-members at the end of last year, attention in 2017 has quickly shifted to the next key Continue Reading
OPEC Boss Says Producers Will Decide in May If More Oil Cuts Needed
Global oil inventories will start to fall by the second quarter of the year, and crude-producing countries will decide in May whether to extend their collective output cuts beyond the Continue Reading
Saudis cut oil output to lowest in two years, pledge further reductions
Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world’s largest oil exporter leads OPEC’s drive to eradicate Continue Reading
Too early to decide on extending OPEC’s production cut deal: UAE minister
As OPEC producers begin cutting back their output, UAE energy minister Suhail al-Mazrouei said Wednesday producers were committed to making the necessary cuts, but it was premature to discuss whether Continue Reading
OPEC secretary-general expects oil inventories to fall by Q2
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. OPEC expects to Continue Reading
OPEC Boss Says Producers Will Decide in May If More Oil Cuts Needed
Global oil inventories will start to fall by the second quarter of the year, and crude-producing countries will decide in May whether to extend their collective output cuts beyond the Continue Reading
OPEC members to meet in Vienna next week to evaluate output cut commitments: UAE minister
The progress made by a group of major producers from OPEC and outside the organization towards cutting oil output by a combined 1.8 million b/d will be assessed next week Continue Reading