Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market‘s needs. Speaking in… Read More ›
Crude Oil Production Cuts: Iraq, OPEC’s Second-Largest Producer, And Russia, Failed To Respect Their Commitments In The First Two Months Of The Year
OPEC and a group of 10 oil-producing nations led by Russia are deepening their crude production cuts, but remain split on whether the curbs should remain in place through the end of the year, officials said Sunday. Saudi Arabia, the… Read More ›
The request was made in a letter sent to OPEC Secretary-General Mohammad Barkindo. “Our country hopes to receive the solidarity and full support of the member countries of OPEC and its ministerial Conference, in the fight we are currently having against the illegal and arbitrary intrusion of the United States in the internal affairs of Venezuela,” Maduro wrote.
Oil headed for its biggest weekly gain in over two years. Still, prices are about 30 percent lower than their highs in October
Crude’s direction in coming weeks may be determined by whether the Organization of Petroleum Exporting Countries and allies including Russia implement output cuts they have promised for the first six months of 2019. Also crucial will be the outcome of trade negotiations between the U.S. and China — the world’s two biggest economies. A deal between the nations could boost flagging global growth that underpins oil demand.
Qatar Petroleum to invest $20 billion in U.S. over the coming few years, after the Gulf Arab state unexpectedly quit OPEC this month
Qatar, a tiny but wealthy country is one of the most influential players in the LNG market due to its annual production of 77 million tonnes. It plans to boost capacity 43 percent by 2023-2024 and will be building four liquefaction trains for the LNG expansion.
As part of its more than $20 billion investment push in the U.S. QP is looking “at gas and oil, conventional and non-conventional”
Major oil producers have reached a deal to cut oil production and boost the market, following two days of grueling negotiations
OPEC clinched the deal with allied oil-producing nations including Russia at its headquarters in Vienna, Austria on Friday.
The influential oil cartel meets at its headquarters in Vienna, Austria, with the aim of reaching an accord over production levels for the next six months. The 15-member organization will then hold talks with allied non-OPEC partners on Friday, with markets widely-expecting the energy alliance to announce steep output reductions from January.
Oil prices plunged to their lowest since late 2017 on Friday in choppy trading, weighed down by an emerging crude supply overhang and a darkening economic outlook
U.S. West Texas Intermediate (WTI) crude futures slumped 2.3 percent, to $53.38 a barrel. Prices earlier fell to as low as $52.82, only 5 cents about the $52.77 level reached on Tuesday, which was the lowest since October 2017.
Oil prices drop as a deteriorating economic outlook and a surge in U.S. production outweighed expected supply cuts by the OPEC
Oil prices are almost a quarter below their recent peaks in early October, weighed down by surging supply, especially from the United States.
Today’s Stock Market News – A majority of OPEC and allied oil exporters support a cut in the global supply of crude
Saudi Arabia is discussing a proposal to cut oil output by up to 1 million barrels per day by OPEC and its allies, two sources close to the discussions told Reuters on Sunday.
Stock Market News – OPEC and its allies led by Russia are weighing production cuts to halt a sharp slump in oil prices
Analysts with PVM Associates said in a note Friday that the price slump appears likely to continue, unless OPEC and its partners agree to cut production.
Stock Market News – Oil prices declined for a ninth straight session, bringing it 20% below its recent high
U.S. Oil Enters Bear Market on Rising Inventories, Worries of Oversupply