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 Internal Report Warns Oil Prices to Remain Depressed
The Organization of the Petroleum Exporting Countries is slated to meet Friday in Vienna. VIENNA—An internal OPEC document written to prepare a crucial meeting Friday warns oil prices will remain Continue Reading
Oil traders get closer look at what might prompt Saudi rethink
Saudi Arabia has given oil traders the first glimmer of clarity on what it might take to prompt the world’s biggest crude exporter to change course on policy, suggesting that Continue Reading
Iran Says It Won’t Curb Crude Output Below Pre-Sanctions Level
Saudi Arabia Under Pressure to Cut Oil Output Iran won’t accept any limit on its oil output below pre-sanctions levels as the nation continues with plans to boost production by Continue Reading
Mexico rules out crude production cut in concert with OPEC: source
Mexico is not willing to cut its crude production as part of any coordinated action by OPEC and non-OPEC producers, a Mexican energy ministry source said Thursday. “The ministry has Continue Reading
Russian Energy Minister Says Cutting Oil Output Isn’t Viable
Saudi Arabia Under Pressure to Cut Oil Output Russia will stick to its strategy of maintaining oil production and has no plans to take part in Friday’s OPEC meeting, said Continue Reading
OPEC’s Faith in Oil Demand Rise Rests on Shaky Ground
The Organization of the Petroleum Exporting Countries’ bet that oil demand will steadily rise in 2016 has a looming problem: Consumption is notoriously difficult to predict. Since 2010, the oil Continue Reading
Shorting OPEC, hedge funds leave crude prices at risk from recoil
As ministers from the Organization of the Petroleum Exporting Countries head to Vienna, hedge funds have almost never been more bearish about the outlook for oil prices. Hedge funds and Continue Reading
OPEC’s Plan to Kill Shale: One Year Later
It’s been one year since OPEC tried to force the hand of U.S. shale oil by announcing they would not decrease production in order to curb the falling price of Continue Reading
OPEC set for tough meeting, further price fall feared: sources
OPEC is heading for a tough meeting this week, delegates and officials said on Tuesday, as country members pump record volumes amid an uncertain demand outlook and as the prospects Continue Reading