OPEC forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the Continue Reading
Unseasonably warm weather and rising supply will keep the crude oil market oversupplied until at least late 2016, the International Energy Agency said in its monthly report on Tuesday. Warm Continue Reading
The IEA trimmed 2016 estimates for global oil demand as China’s economic expansion weakens and raised forecasts for supplies outside the Organization of Petroleum Exporting Countries. While non-OPEC supply is Continue Reading
Oil prices could fall further this year as the market faces an “enormous strain” on its ability to absorb new supplies from producers such as Iran, a top world energy Continue Reading
The oil market “could drown in oversupply” as Iran’s return offsets production cuts, paving the way for a further slide in prices, the world’s leading energy forecaster said on Tuesday. Continue Reading
Production outside the Organization of Petroleum Exporting Countries will drop by 660,000 barrels a day, the group said Monday in its monthly market report, deepening the decline from its previous Continue Reading
The average price for a basket of crudes from OPEC producers fell to $25 a barrel on Thursday, the group said, even before unrestrained exports from Iran hit the market. Continue Reading
Russian Energy Minister Alexander Novak said on Friday coordinated oil production cuts with OPEC to support falling oil prices were unlikely and would be inefficient if they did happen anyway. Continue Reading
Iran has received no formal request for an extraordinary meeting for members of the Organization of Petroleum Exporting Countries, its oil minister said. Nigerian Oil Minister and current OPEC President Continue Reading
The United Arab Emirates moved to quash talk of a potential emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC) after Nigeria’s oil minister said on Tuesday a Continue Reading
