Tag archives for OPEC
Petrobras Says Discussions Among Saudi, Russia are of No Use For Oil Prices
Recent discussions involving leaders from major oil-producing countries and the will prove irrelevant for oil prices that are low due to depressed demand, the CEO of Brazil’s Petrobras stated Thursday evening.…
Oil Plunges Below $57 Following Coronavirus and OPEC+ Cuts Delays
Oil dropped below $57 per barrel Tuesday, pressured by concerns over the impact on oil demand from the coronavirus epidemic in China and a lack of further action by OPEC…
Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts
Crude oil and condensate production in Russia reached a record high for the post-Soviet era last year, regardless of Moscow’s key role in supporting the ongoing output cuts of the…
Iran’s Step Back & Return To Negotiations
Oil extended losses below $60/bbl on the prospect of easing tensions between the and OPEC member Iran, and because the Gulf of Mexico, producers began resuming operations after a storm.…
Stop The Production Of GOM Oil By Storm Barry
Oil traded near $60/bbl after a storm shut almost three-quarters of Gulf of Mexico crude production, at the same time as lingering demand considerations proceed to mark the outlook. Aftertimes…
New Oil Surplus Strategy Of OPEC
A week after OPEC agreed to maintain oil production restrained till early next year, the group’s first forecasts for 2020 revealed it faces an even longer and tougher challenge. The…
Saudis Dig-In for Shale Battle as OPEC and Its Allies Extend Cuts to 2020
Saudi Arabia, OPEC’s ruling producer, will keep doing the heavy lifting as the cartel and its allies have been all but pressured to extend their effort to counter the shale…
Oil Prices Drop Before the G-20 Summit, OPEC to Hold a Meet
Oil prices eased this Friday as traders awaited an update on the trade war from a scheduled weekend assembly of the two countries’ presidents on the G20, and eyed next…
OPEC Ally Fans Out to Australia, Canada in Global Gas Drive
Kuwait plans to boost generation from Canadian shale fields by two thirds and enhance the output of natural gas in Australia as the OPEC allies ramp up efforts to search…
OPEC Prepares for Critical Meeting, Resolution on Oil Output Cuts
The assembly of the Organization of the Petroleum Exporting Countries and its associates in early July is coming at a particularly vital and risky time for oil. Costs have been…