Saudi deepens cuts as OPEC+ agrees oil output rollover
Saudi Arabia will make additional, voluntary oil output cuts of one million barrels per day (bpd) in February and March as part of a deal under which most OPEC+ producers Continue Reading
Saudi Arabia, Flexing Oil-Market Muscle, Pledges to Cut Production Sharply to Lift Prices
Saudi Arabia said it would unilaterally cut 1 million barrels a day of crude production starting next month, a surprise move signaling the kingdom’s worry that a resurgent coronavirus is Continue Reading
Saudi Arabia warns oil producers over fragile market
Saudi Arabia warned Opec and allies outside the oil cartel against unleashing more barrels on to a fragile market, putting the kingdom at loggerheads with rival Russia. Prince Abdulaziz bin Salman, Continue Reading
OPEC+ Talks Stall Over Oil Production
The OPEC+ talks stalled on Monday after the group failed to reach a consensus on the best path forward for oil production, the body reported on Monday afternoon. OPEC and Continue Reading
Saudis, Russia at Odds Over Boosting Oil Output Amid Covid-19 Pandemic – WSJ
Saudi Arabia and Russia deadlocked Monday over whether their producers’ alliance should boost crude output amid a resurgent pandemic, delegates said after a day of talks ended without a deal. Continue Reading
OPEC+ Warns of Risk to Oil Recovery as Group Plots Next Move
OPEC warned of risks to the oil market from the resurgent pandemic, a day before the group and its allies meet to consider whether to increase production. “The outlook for the Continue Reading
Kuwait supports OPEC+ decisions maintaining crude market stability: oil minister
Kuwait supports OPEC+ decisions that help maintain stability in crude markets, particularly in light of the negative repercussions from the pandemic, the country’s oil minister said Jan. 4, as ministers Continue Reading
OPEC+ weighs desire to pump more crude against a gloomy coronavirus outlook
OPEC and its allies will meet later Jan. 4 to set crude production levels for February, with the spread of new COVID-19 variants potentially giving ministers pause on proposals to Continue Reading
OPEC sees oil outlook for first half of 2021 full of downside risks
OPEC sees plenty of downside risks for oil markets in the first half of 2021, its secretary-general said on Sunday, a day before meeting allies led by Russia to discuss Continue Reading
OPEC+ alliance seeks less drama in 2021 but has monthly decisions to make
Highlights Ministers will meet Jan. 4 to set February quotas Countries appear split on raising crude output Monthly talks aim to allow nimble OPEC+ policy London — In turning the Continue Reading