U.S. shale oil production is set to rise next year following the rally in prices since OPEC’s Nov. 30 meeting in Vienna, according to the International Energy Agency, which had Continue Reading
Iraq is committed to cutting its production to comply with a global pact to support prices, the country’s oil minister said, adding he was nevertheless confident OPEC’s No. 2 producer Continue Reading
For the first time in 15 years, the Organization of Petroleum Exporting Countries has sealed a global petroleum-cuts deal that includes non-members such as Russia. Can the parties to the Continue Reading
On paper, OPEC’s supply deal could drain almost half the global oil glut within six months. Record inventories accumulated since 2014 will dwindle at a rate of about 760,000 barrels Continue Reading
OPEC’s decision to cut output for the first time in eight years has put a rocket under oil prices. They’ve gained almost 20 percent since Nov. 30 when OPEC officials Continue Reading
Oil prices at $60 a barrel would be “ideal” for OPEC as higher levels risk sparking a recovery in competing supplies from the U.S., according to Nigeria’s petroleum minister. The Continue Reading
The Saudis have managed to come through with a double win. Following the production cuts agreed to by OPEC members, the Saudis were able to work with Russia and other Continue Reading
Global oil markets will swing from surplus to deficit in the first half of 2017 as OPEC and other producers follow through on an agreement to cut supply, according to Continue Reading
OPEC managed to convince almost a dozen non-OPEC producers to take part in oil production cuts over the weekend, and the news immediately sent international benchmarks higher, prompting a fresh Continue Reading
Global oil supply rose 0.8 mb/d in October to 97.8 mb/d after producers in OPEC and non-OPEC opened the taps. World oil output was 0.8 mb/d above a year ago, Continue Reading
