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Tag Archives: OPEC

Trump is wrong when it comes to oil and OPEC

U.S. President Donald Trump pushed Twitter last week to hold OPEC responsible for making oil prices "artificially very high". The reality is that the price of a barrel of oil at the $ 70 level is less over OPEC and more over demand There is a rule about goods that people forget, namely that they are bought and not sold. …

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Trump Revenge: US oil floods Europe, injuring OPEC and Russia

MOSCOW / LONDON (Reuters) – OPEC's efforts to rebalance the oil market are bearing fruit. The US producers profit from this – and flood Europe with a record amount of crude oil. FILE PHOTO: A pump-jack works at a drilling site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS / Nick Oxford / File Photo …

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Oil stops near $ 68 as rising US OPEC curb meters

Oil held at $ 68 a barrel as rising oil drilling in the US counteracts price increases from OPEC's plans for further shortage. Futures in New York fell even 0.8 percent, US drilling companies showed five oil drilling rigs last week, fueling fears of rising US production. The May oil contract rose 1.5% last week before ending on Friday as …

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OPEC, Russia Back continued oil cuts, drawing Trump Ire

JEDDAH, Saudi Arabia – A group of some of the world's largest crude oil producers said they would keep a tight grip on production for the rest of the year, and perhaps until the next day, by hawking a risky bet so far 18 months ago, oil prices were cut back and increased Official representatives of OPEC, Russia and other …

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OPEC, Russia Find reasons to cut after you hit target

The oil surplus, which has weighed on prices for three years, is practically over, but instead of celebrating victory, OPEC and Russia are finding reasons to continue their production cuts. The historic agreement of the group has achieved impressive results percent of the targeted inventory surplus. However, the cuts should continue as another important objective – to increase sufficient levels …

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Estimates for oil demand converge, but even better data is needed: OPEC

NEW DELHI – Oil demand forecasts by key government researchers converge, an OPEC official said Tuesday, though more efforts are needed to improve the quality of global market data. FILE PHOTO: The logo of the Organization of Petroleum Exporting Countries (OPEC) is shown on 21 September 2017 in Vienna. REUTERS / Leonhard Foeger Lack of transparency on oil demand, supply …

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