OPEC said demand for its crude will slide to 2020, though less steeply than previously expected, as rival supplies continue to grow. The organization will need to pump 30.7 million Continue Reading
OPEC on Wednesday predicted oil prices wouldrebound,butthe cartel said it expects to reduce its own production in the coming years. The report comes after global oil pricesthis week fell to Continue Reading
OPEC will stick to its decision on Dec. 4 to maintain a policy of not limiting production, despite the drop in global prices, Iraq’s oil minister said on Sunday, adding Continue Reading
Where’s the floor? Is this the new normal? Answers have proven elusive and predictions unreliable as the oil market continues to lurch to and fro, though mostly down; oil is Continue Reading
Russia’s Energy Minister Alexander Novak arrives at the European Commission headquarters in Brussels ahead of a meeting with EU officials March 2, 2015. Russian Energy Minister Alexander Novak said on Continue Reading
OPEC producers see little chance of significantly higher oil prices in 2016 as extra Iranian production could add to surplus supplies and the prospect of voluntary output restraint remains remote. Continue Reading
Russia, the world’s top oil producer, is ready to meet for talks with OPEC and has been awaiting an invitation, Russian Energy Minister Alexander Novak told reporters on Thursday. “We Continue Reading
Oil’s slump of 14 percent in New York since OPEC met on Dec. 4 has struck fear into any remaining crude bulls. The last time the group rattled the market Continue Reading
Benchmark crudes approached seven-year lows in early December after OPEC opted to continue producing at will to defend market share. Unrelenting oversupply in world markets had already weakened benchmarks during Continue Reading
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms, putting oil prices under further pressure, the International Energy Continue Reading
