OPEC forecast U.S. production this year will fall to 13.56 million barrels a day. Shrinking U.S. output and massive cuts to investment in new projects will reduce the global oil Continue Reading
Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude Continue Reading
There’s been no invitation extended to the Russian government to attend next month’s summit of members of OPEC, Russia’s energy minister said. Russian Energy Minister Alexander Novak said cooperation with Continue Reading
OPEC member Kuwait does not expect any coordinated action to be decided during the group’s upcoming meeting in Vienna on June 2, the country’s acting oil minister said on Thursday. Continue Reading
OPEC is dead, Rosneft’s head Igor Sechin has told Reuters . In a fine example of stating the obvious – at least to those who have been keeping an eye Continue Reading
U.S. crude stockpiles fell unexpectedly last week for the first time since March as imports slipped, U.S. government data showed on Wednesday. Gasoline and distillate inventories also dropped more than Continue Reading
The West’s energy watchdog, the International Energy Agency, faces a possible legal split from its parent body following decades of friction and fresh disagreements over cooperation with China, a document Continue Reading
OPEC is effectively extinct as a united organization and the time when it could determine global oil market conditions should be forgotten, Igor Sechin, head of Russia’s biggest oil firm Continue Reading
* Fall in upstream oil investment could lead to future price spikes * Recent rally in oil prices supported by fall in non-OPEC production * Urges G7 countries to find Continue Reading
A worker at an oil field owned by Bashneft, Bashkortostan, Russia, in this January 28, 2015 file photo. International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil Continue Reading
