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Tag Archives: OPEC

According to Oman oil minister, Trump was not fair to OPEC

The Oil Minister of Oman believes that President Donald Trump has helped OPEC to an undue slump. In contradiction to other golf ministers, Mohammed bin Hamad al-Rumhi emphasized that he wanted to avoid political hostilities with the American head of government and seemed to thank him for his doubts.

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OPEC prepares for "Extraordinary Convention" as oil falls

Just a few weeks after OPEC and its partners decided to launch another round of production cuts, the cartel is ready to extend these cuts as international prices continue to fall. Reuters reports citing UAE Oil Minister OPEC is ready to hold an extraordinary meeting when it switches back to "Whatever Needs" mode. Earlier this month, OPEC, Russia and nine …

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The Saudi oil export in October reached its highest level since the first OPEC deal

Saudi Arabia's crude oil exports rose to a 22-month high of 7.70 million Bpd in October, as OPEC's largest oil producer and exporter amassed supplies prior to the return of US sanctions on Iran. According to the Joint Organization Data Initiative (JODI) database, which collects self-reported data from 114 countries, Saudi Arabia's crude oil exports rose by 268,000 bpd in …

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OPEC, Russia strike deal to reduce oil production

Updated on December 7, 2018, 9:22 am ET VIENNA – OPEC and Russia agreed to an agreement on Friday to reach a significant production cut that would absorb a burgeoning global oil supply glut. Organization of oil exporting countries will dampen along with Russia and its allies Oil production amounted to 1.2 million barrels a day. The deal is still …

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Oil prices plummet as OPEC + creeps around 11th hour

The oil price collapsed on early Thursday The OPEC did not yet show a solid agreement in Vienna, at least not yet. After hours of meetings, OPEC canceled its press conference and waited for the arrival of the Russian delegation on Friday. The oil price crisis reminds the group that the market is making a significant impact. OPEC met on …

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Qatar withdraws from OPEC

The small, gas-rich state of Qatar said on Monday it would leave the oil cartel on January 1, after nearly 60 years of membership. The country's state oil company, Qatar Petroleum, announced this in a series of tweets. "The withdrawal decision reflects Qatar's desire to focus its efforts on developing and increasing its natural gas production," Saad Sherida Al-Kaabi, the …

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Qatar should leave Opec in 2019, says Energy Minister | money

Saad al-Kaabi, Chief Executive of Qatar Petroleum, gestures during a press conference on December 11, 2016 in Doha, Qatar. – Reuters pic DOHA, December 3 – Qatar announced today that Opec was abandoned by January 2019. However, I would attend the meeting of the group of oil exporters who said the decision meant Doha could focus on its Position as …

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Qatar steps out of OPEC in January 2019

Qatar will withdraw from the Organization of Petroleum Exporting Countries (OPEC), Gulf Energy Minister Saad Sherida al-Kaabi announced Monday. The decision to leave the block of 15 oil-producing countries About 40 percent of world oil production was confirmed by Qatar Petroleum, the country's state-owned oil company. Qatar announces that it withdrew from the Organization of Petroleum Exporting Countries "OPEC" on …

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