OPEC’s Oil Output Hits Three-Year High
The Organization of the Petroleum Exporting Countries pumped more oil in November than any month in three years, in another sign that the group has no plans to slow down Continue Reading
OPEC Says Crude Production Rose to 3-Year High in November
OPEC raised crude output to the highest in more than three years as it pressed on with a strategy to protect market share and pressure competing producers. Output from the Continue Reading
OPEC points to larger 2016 oil surplus as group’s output hits multi-year high
OPEC pumped more oil in November than in any month since late 2008 and forecast little increase in demand for its crude next year, pointing to a larger supply surplus Continue Reading
Saudi-Iran rivalry sets scene for OPEC showdown over output
It used to be said of OPEC that it was like a teabag – it only worked in hot water. If that is so, conditions on world oil markets could Continue Reading
Gas Producers Contemplate OPEC-Style Group
Some of the world’s biggest natural-gas producers are trying to seize on changes in how the fuel is bought and sold to create an OPEC-style group to influence prices. Leaders Continue Reading
OPEC set to maintain policy as oil glut worsens
OPEC looked set to maintain its production policies on Friday and take no steps to curb supply going into 2016 when members Iran and Iraq will boost exports, potentially worsening Continue Reading
OPEC and the Oil Price: Who’s in Charge Now?
OPEC, along with the price of oil, remained on a slippery slope Friday. There is no price relief in sight. Energy traders were whipsawed shortly after 9 a.m. New York Continue Reading
OPEC Decision Could Hit Oil Companies Even Harder
The Organization of the Petroleum Exporting Countries’ decision Friday to keep pumping full blast in the face of low prices is bad news for independent oil companies: If OPEC won’t Continue Reading
Opec strategy of not cutting output likely to remain unchanged
Opec is expected to stick with its strategy of not cutting oil production when its ministers meet in Vienna on Friday, with the cartel split over who should take responsibility Continue Reading
OPEC Meeting Begins Amid Debate Over Production Cuts
The energy ministers of the OPEC nations gathered for the cartel’s policy meeting on Friday amid warnings from its staff that oil prices will likely remain low no matter what Continue Reading