OPEC

Wti Slides Below $63 After Surprise Crude & Gasoline Builds

WTI traded lower today (finding support around $63) as anxiety over the ongoing US-China trade deal weighed on global growth (demand) sentiment (after yesterday's gains on OPEC/Saudi supply comments). “Given the fact that the macro environment...
Related topics: China

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Oil Prices Rise On News That Opec Could Extend Production Cuts

From Myra P. Saefong and Barbara Kollmeyer: Middle East tensions rise as Trump threatens Iran in tweet ReutersSaudi Arabian Energy Minister Khalid al-Falih, Mohammed Barkindo, Secretary General of OPEC, Russian Energy Minister Alexander Novak...
Related topics: Iran

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Saudis To Meet All Ex-iran Crude Orders As Possible Opec Collapse Looms

Saudi officials have signaled the kingdom plans to meet all orders from former buyers of Iranian oil for the month of June. US Energy Secretary Rick Perry confirmed in statements made Tuesday that OPEC's de facto leader Saudi Arabia would...
Related topics: Iran, Saudi Arabia, Rick Perry

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Is Opec Facing An Existential Crisis?

Authored by Cyril Widdershoven via Oilprice.com, Global oil market fundamentals are looking particularly bullish, from the OPEC+ production cuts, to the constraints of exports in Nigeria and the U.S. sanctions on Iran and Venezuelan. While oil...
Related topics: Nigeria, Iran

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Opec Collapse Likely, Warns Iran's Oil Minister

Iran has warned that OPEC might "collapse" due to the "unilateral actions" by some of its members, in a clear jab at Saudi Arabia.  “Iran is a member of OPEC because of its interests, and if other members of OPEC seek to threaten Iran or...
Related topics: Iran, Saudi Arabia

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Macro Briefing: 3 May 2019

Speaker Pelosi: Attorney General Barr ‘lied to Congress’: CNBC OPEC collapase may be near, says Iran’s oil minister: Bloomberg Moore withdraws from consideration to join Fed board: WSJ Eurozone inflation edged up more than expected...
Related topics: Cnbc, Iran, Bloomberg

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Saudi, Opec Officials Deny Speaking To Trump About Oil Prices - Reports

WASHINGTON (Sputnik) - Officials with the government of Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) have denied speaking to US President Donald Trump about lowering oil prices, media reported on Friday.
Related topics: Saudi Arabia, Donald Trump

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Real Time Economics: India’s Economy Cracks World’s Top 5; Russia Steers Opec

In today’s issue, India becomes world’s fifth largest economy, Russia plays key role in OPEC decisions, and housing in one of America’s wealthiest towns deflates. Good morning, this is Greg Ip taking you through the day’s economic...
Related topics: India, Russia

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The Ultimate Pivot: Saudi Betrayal Of The Petrodollar

Authored by Tom Luongo, Saudi Arabia has gone nuclear, threatening the petrodollar. Or has it? The report from Zerohedge via Reuters that Saudi Arabia is angry with the U.S. for considering a bill exposing OPEC to U.S. antitrust law is a trial...
Related topics: Saudi Arabia, Reuters

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'the Nopec Law Would Be A Major Blow To Critical Opec-us Cooperation'- Analyst

Saudi Arabia has allegedly planned to switch its oil trade from using the US dollar if Washington passes the NOPEC Bill. The accord would extend American anti-trust laws to foreign entities such as OPEC.
Related topics: Saudi Arabia

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Saudi Arabia Mulls Ditching Dollar In Bid To Stop Us Anti-opec Law – Report

The No Oil Producing and Exporting Cartels Act (NOPEC) was first introduced in 2000 to combat OPEC's price regulation, but had little success in Congress. However, prior to being elected US president, Donald Trump expressed vocal support for the...
Related topics: Saudi Arabia, Donald Trump

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Petrodollar Panic: Saudis Threaten To Dump Usd-oil Trades Over Opec Anti-trust Bill

Three year ago - almost to the day - Saudi Arabia rattled its first sabre towards the United States, with an implicit threat to dump US Treasuries over Congress' decision to allow the Saudis to be held responsible for the 9/11 attacks. In a...
Related topics: Saudi Arabia

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Wti Breaks Below Key Support After Crude Inventories Showed Large Surprise Build

With WTI battling to hold its 200DMA after a surprise crude build from API overnight as the global crude market is warming to the thought that OPEC-Russia cuts and Venezuelan declines are keeping global supply in check, and as Bloomberg notes,...
Related topics: Global Warming, Russia, Bloomberg

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Trump Says 'very Important' For Opec To Increase Oil Production

WASHINGTON (Sputnik) - US President Donald Trump appealed to the Organization of the Petroleum Exporting Countries (OPEC) on Thursday to step up oil production in order to bolster fragile world markets.
Related topics: Donald Trump

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'supply Crisis Is Looming On Horizon' If Opec+ Makes More Cuts - Energy Expert

OPEC countries have decided to postpone a decision regarding the future of a deal with several non-OPEC states to reduce oil output, and thereby supply, on the market until June 2019. The cuts in production are expected to be prolonged or partially...

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Macro Briefing: 18 March 2019

Midwest rivers rise to record levels, forcing evacuations: USA Today Fed likely to extend pause on rate hikes in Wed announcement: WSJ Russia says it will comply with Opec’s production cut: CNBC Consumer Sentiment Index for US rises for second...
Related topics: Fed, Russia, Cnbc

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Egypt Not Considering Joining Opec For Time Being - Petroleum Minister

HOUSTON (Sputnik) - Egypt is not planning to join the Organization of the Petroleum Exporting Countries (OPEC) for the time being, Tarek El Molla, Egyptian minister of petroleum and mineral resources, told Sputnik on Wednesday on the sidelines of...
Related topics: Egypt

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Wti Hits 4-month Highs, Tops $58 After Surprise Crude Draw, Production Cut

Crude rose for a third day after API reported an unexpected drop in U.S. stockpiles just as planned cuts and disruptions to OPEC output are tightening supply. While OPEC nations like Saudi Arabia press on with planned production curbs, crises in...
Related topics: Saudi Arabia

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Venezuela Gives Us Diplomats 72 Hours To Leave, Blames Trump For Blackout

Venezuela ordered American diplomats to leave the country within 72 hours on Tuesday after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber “sabotage” that plunged the OPEC nation into its worst blackout on record. Foreign...
Related topics: Venezuela, Donald Trump

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Oil Prices Near Highest Levels Of 2019 Due To Signs Of Supply Crunch

From Myra P. Saefong & Mark Decambre: Crude-oil futures climbed for a second session on Tuesday, with prices teasing their highest settlements of the year on the back of tightening Venezuelan supplies and signs that OPEC would continue cutting...

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