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Tag Archives: OPEC

OPEC plans take market share from US shale

In one of the least hot meetings of recent years, OPEC and its allies have postponed their production cuts to March 2020, suggesting that the oil market is still over-supplied and demand growth at least seems to be weaker by 2019. [19659002] OPEC's mission to reduce excess inventory would, if successful, lead to higher oil prices, which cartel members need …

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Russia approves OPEC + contract over production cuts

OPEC Secretary-General Mohammed Barkindo (R), Russian Energy Minister Alexander Novak (L), Saudi Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih (C), hold one during the 173rd Ordinary joint press conference from the Organization of the Petroleum Exporting Countries (OPEC) on 30 November 2017 in Vienna, Austria. Omar Marques | Anadolu Agency | Getty Images Russia and nine other non-OPEC …

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Iran warns against unilateralism that could lead to the death of OPEC: Oil Minister

Iranian Oil Minister Bijan Zanganeh believes that "unilateralism" among some OPEC members could eventually lead to the death of the Middle Eastern-dominated farmer community. OPEC will debate an expansion of cuts in oil production on Monday before the agreement was approved on Tuesday by non-members such as Russia. Russian President Vladimir Putin said over the weekend that the non-OPEC leader …

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US Mexico Tariffs raised, OPEC supply cuts in focus

Shell Oil's Pioneer Oil Rig in Port Angeles, Washington, on May 12, 2015. Jason Redmond | Reuters Oil prices rose on Monday after Saudi Arabia announced that producer club OPEC and Russia were expected to hold back on their deliveries, and as relief that the US and Mexico had averted a trade war that would have damaged the global economy. …

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Crude Oil Rise on US Iran Spat, OPEC Production Cutbacks Hiss

CRUDE OIL & GOLD TALKING POINTS: Crude oil prices rise as Trump threatens Iran OPEC slows production cuts Fed chairman Powell could weigh on commodity prices Crude oil prices rose at the beginning of the trading week After US President Trump threatened Iran via Twitter and officials in Tehran had warned that if they wished to do so, that would …

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OPEC: signs of a major oil shortage

The three major health determinants of today's oil industry are 1) global demand, 2) US production, and 3) OPEC production. Every month, OPEC as an organization publishes its own forecast for the appearance of the oil industry, and although it does not forecast its own production as a team, they give a look at the last few months when market …

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