Even If OPEC Gets a Deal, It Risks Reviving Battered Oil Rivals
Three days from a crucial meeting, OPEC’s deal to curb oil production and end years of global oversupply hangs in the balance . But even if ministers hash out a Continue Reading
OPEC Pushes for Oil Deal as Saudis Open Door for No Output Cut
OPEC is embarking on a last-ditch diplomatic push to reach a production cut, with ministers flying to Russia for talks, as Saudi Arabia for the first time suggested the oil-club Continue Reading
OPEC races to hash out compromises, as discord threatens to collapse freeze deal
OPEC technical meeting begins in Vienna Saudi minister Falih downplays need for OPEC action Algeria, Venezuela ministers travel to Moscow Libya’s NOC says cannot cut for “foreseeable future” OPEC on Continue Reading
Iran Said to Assess 1.1 Million Barrel-a-Day Collective OPEC Cut
Bijan Namdar Zanganeh. Photographer: Akos Stiller/Bloomberg OPEC proposes 600,000 barrels a day cut for non-OPEC producers Iran hasn’t announced commitment to reduce its own production Iran is assessing a proposal Continue Reading
Russia positive on global oil deal, continues consultations with OPEC: minister
Russia is continuing consultations with OPEC aimed at stabilizing oil markets and is positive about a global deal, Energy Minister Alexander Novak said on Saturday. In a statement, his ministry Continue Reading
Saudi Arabia tells OPEC it won’t attend non-OPEC talks on Monday: sources
Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend scheduled talks in Vienna on Monday with non-OPEC oil producers, OPEC sources said on Friday. Continue Reading
Saudis Said to Quit Russia Talks as OPEC Deal No Closer
New internal OPEC talks Monday after failure to reach accord Saudi Arabia, Iraq and Iran still disagree how to share cuts Saudi Arabia pulled out of planned talks with non-OPEC Continue Reading
Saudis Cancel Meeting With Russians Ahead of OPEC Talks
Saudi Arabian oil officials have canceled a meeting Monday with their Russian counterparts, OPEC officials said, disrupting plans between the world’s two largest petroleum producers to coordinate output cuts meant Continue Reading
Saudis Withdraw From Non-OPEC Meeting, But Odds For Deal Are Still Good
Wall st Oil prices fell on Friday morning after some bearish comments of Saudi Arabia but the odds of a substantial OPEC deal seem to have improved now Iraq is Continue Reading
Expert Commentary: Why OPEC Has To Make A Deal Happen
Less than two weeks before OPEC’s next Most Important Meeting Ever the oil market is doubtful that the cartel will reach a meaningful supply reducing agreement. Traders have revealed skepticism Continue Reading