OPEC

Oil Prices Move Higher As Traders Pore Over Data Showing A Rise In Monthly Opec Output

From Myra P. Saefong & Rachel Koning Beals: Oil prices moved higher Thursday as traders pored over data showing a rise in monthly OPEC output, as well as a recent report of a weekly decline in U.S. crude supplies and production. Record pumping...

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Iea Wobbles On Impact Of Opec Cuts, Citing Growing Us Production

The International Energy Agency on Thursday released its monthly oil market report for December. The agency expects demand to rise both this year and next. Record-level U.S. production could keep...

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Multipolar World Order In The Making: Qatar Dumps Opec

Authored by Federico Pieraccini via The Strategic Culture Foundation, The decision by Qatar to abandon OPEC threatens to redefine the global energy market, especially in light of Saudi Arabia’s growing difficulties and the growing influence of...
Related topics: Qatar, Saudi Arabia

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Wti Tumbles After Surprisingly Small Crude Draw

Having surged overnight on the heels of a huge API-reported crude draw (don't forget the seasonal incentive to lower taxable inventories), WTI Crude has quickly faded back this morning (despite dollar weakness) as OPEC dats this morning suggests a...

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Why Oil Stocks Are Getting Beaten Up Again Today

Oil continued its recent volatility on Monday as prices slumped about 3%, with the global benchmark, Brent, closing just below $60 a barrel, while the U.S. benchmark, WTI, finished right under $51 a barrel. That slide comes one trading day after...

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Opec's Deep Cuts & The Rise Of The Petroyuan

Authored by Tom Luongo, OPEC Cuts Deep To Save Cartel With oil prices in free fall and the dawning realization that Great Reflation trade of 2017 is over, OPEC needed to do something drastic to remind everyone how important they are. Moreover,...

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Us, Western Diplomats See Political Motive Behind Opec Oil Cut

Despite repeated calls by U.S. President Donald Trump for oil production to remain steady, the Saudi-led Organization of the Petroleum Exporting Countries, along with Russia and its allies, announced Friday they would cut their pumping of crude to...
Related topics: Donald Trump, Russia

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This Soon-to-be-former Opec Member Sees A Brighter Future In Natural Gas

Qatar made headlines recently after the long-standing OPEC member said that it was leaving the group of oil-exporting nations at the end of the year. That will drop OPEC's membership roll down to 14, although as the 11th largest producer in the...
Related topics: Qatar

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Opec Fights Falling Prices With Production Cuts

Analysts say OPEC's decision is less about raising prices, and more about stopping them from falling further.

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Iran's Oil Minister Says Tehran Got Exemption From Opec-non-opec Oil Output Cuts

VIENNA (Sputnik) - Iranian Oil Minister Bijan Zangeneh said Friday that Tehran would be exempt from the oil cuts within the production freeze deal of the Organisation of the Petroleum Exporting Countries (OPEC) and non-cartel members.
Related topics: Iran, Tehran, Austria, Vienna

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6 Most Important Things In Business Today

OPEC continues to balance the extent to which it will cut production, Fiat Chrysler will open a factory in Detroit, and other important business headlines today.

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Saudi Economists Suggest Qatar Leaves Opec For Political Reasons

According to Saudi economist Aiman al Khalaf, speaking to Sputnik, Qatar’s withdrawal from OPEC won’t affect oil prices. The country produces about 600,000 barrels, which is about 2% of OPEC’s total production; Qatar ranks 11th among the...
Related topics: Qatar

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Stocks Sink To 8-month Low Over Fears Of Escalating Trade War

(Bloomberg)—The sell-off in global stocks deepened, leaving U.S. shares mired in the steepest two-day slide since February and European equities at a two-year low as concern mounted that the rate of global economic growth has peaked. Oil slid...
Related topics: Bloomberg

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Oil Prices Drop More Than 4% Despite Large Crude Draw

From Irina Slav: As oil markets hold their breath for OPEC+’s announcement of the final production cuts to take place starting next year, the Energy Information Administration served a nice surprise to oil bulls by reporting an inventory...

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Opec Meeting Can Affect Natural Gas Prices Too: Here's How

OPEC or the Organization of the Petroleum Exporting Countries – the international cartel of oil producers – and its allies are scheduled to meet at its headquarters in Vienna, Austria today. As usual, the outcome of the gathering of the...
Related topics: Austria, Vienna

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Us 'not In Position To Tell Opec What To Do' - Saudi Arabia

The meeting between Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman on the margins of the G20 summit in Buenos Aires over the oil output and price issues put an end to the uncertainty in the oil market, with oil prices...
Related topics: Saudi Arabia, Vladimir Putin, Argentina, Buenos Aires

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Iranian Petrol Minister Demands Country's Exemption From Any Opec Deal

VIENNA/MOSCOW (Sputnik) - Iran is not willing to be a part of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC), which is monitoring the implementation of the oil output cut deal and issues recommendations for changing its conditions,...
Related topics: Austria, Vienna, Russia, Moscow, Iran

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What Does This Week's Opec Summit Have To Do With Cinderella?

The real action at the oil meeting in Vienna might be in a stairwell.
Related topics: Austria, Vienna

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'having Qatar Outside Of The Group Is Less Beneficial For Opec' - Researcher

Qatar intends to withdraw from OPEC in January. This is what the country’s energy minister, Sherida Kaabi, said during a press conference on Monday. According to the official, OPEC was informed of this decision ahead of the announcement. Sputnik...
Related topics: Qatar

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G20: You Can Smell Tear Gas In The Streets As The Oil Industry Squabbles

What the G20 and OPEC meetings mean for the political relations, economies, and people of the world.

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