Organization of the Petroleum-Exporting Countries (OPEC)

Saudis losing market share to Iran, Iraq on oil cuts

Saudis losing market share to Iran, Iraq on oil cuts

as a result of OPEC’s agreement to curb supplies to bolster prices

North Sea Oil Floods to Asia Like Never Before on OPEC Cuts

North Sea Oil Floods to Asia Like Never Before on OPEC Cuts

The aim of current cuts to reduce inventories to below their five-year average has failed

Azerbaijan ready to support extension of oil output cut deal

Azerbaijan ready to support extension of oil output cut deal

Azerbaijan's Energy Minister Natig Aliyev said that Baku would support the extension of the global oil output cut deal if it was agreed. "I think that December’s decision had impact on the market and oil …

Iraq may seek exemption from OPEC deal

Iraq may seek exemption from OPEC deal

Iraq may seek to be exempt from a deal between oil exporters to reduce global supply in order to support crude prices and ask to boost its own output, the leader of the nation's Shi'ite ruling coalition Ammar al-Hakim …

Oil Prices Edge Higher From OPEC Boost

Oil Prices Edge Higher From OPEC Boost

But increasing shale production in the U.S. and still-high global stocks threatened to pull prices lower

OPEC: oil producers close to re-balancing market

OPEC: oil producers close to re-balancing market

Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, OPEC Secretary-General Mohammad Barkindo said at a conference in Abu Dhabi. The OPEC and other major producers are …

Oil output monitoring committee to meet in Vienna on May 24

Oil output monitoring committee to meet in Vienna on May 24

Russia and OPEC will hold the meeting of the oil output monitoring committee on May 24 in Vienna, OPEC Secretary General Barkindo said. The meeting will be attended by the Russian Energy Minister Aleksander …

Iran to back extension of oil output cuts

Iran to back extension of oil output cuts

Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian oil minister Bijan Namdar Zanganeh said. Zanganeh stressed that most countries want …

OPEC sees a world that still has too much oil

OPEC sees a world that still has too much oil

The oil market is tipping slowly from glut to equilibrium, as output cuts from OPEC and 11 non-OPEC countries start to reduce crude flows. It's not quite there yet. As Bloomberg reported in an article " …

Oil set for longest gain since 2012

Oil set for longest gain since 2012

as Saudis seen extending cut

Saudi Arabia to extend oil output cuts - media

Saudi Arabia to extend oil output cuts - media

Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, Bloomberg reported. OPEC is scheduled to gather in Vienna on May 25 to discuss whether to roll over for another …

Oil prices edge up as geopolitics dominate

Oil prices edge up as geopolitics dominate

The U.S. move has stoked concerns of possible retaliation from Iran and Russia

Novak about extending OPEC deal: we to consult with our oil firms

Novak about extending OPEC deal: we to consult with our oil firms

Russian Energy Ministry will soon start consultations with Russian oil producers about the possibility of extending an output cut deal with OPEC, the Russian Energy Minister Alexander Novak said. A final decision …

Russia does not withdraw OPEC deal

Russia does not withdraw OPEC deal

Russia does not discuss the possibility of leaving oil output reduction deal with Organization of the Petroleum Exporting Countries (OPEC) and did not express dissatisfaction with its results, a source in the cartel said. "There …

Iran struggles to expand oil exports

Iran struggles to expand oil exports

as its sea storage cleared

China Becomes Biggest Buyer of US Oil

China Becomes Biggest Buyer of US Oil

American Exports Hit Record

Current quarter promises to be oil market#039s worst-performing since 2015

Current quarter promises to be oil market's worst-performing since 2015

As investors fret that growing U.S. supplies are undermining OPEC-led cuts

This is what#039s really behind the recent US oil production boom

This is what's really behind the recent US oil production boom

U.S. oil production growth was almost entirely the result of offshore wells

Russia cut oil output under OPEC agreement

Russia cut oil output under OPEC agreement

Russia has already cut oil production under a deal with OPEC by 200,000 barrels a day and plans to reduce it by 300,000 barrels a day by late April, the Russian Energy Minister Alexander Novak told CNBC at the Arctic forum in …

Oil#039s Magic Numbers

Oil's Magic Numbers

The magic range between despair and euphoria for oil producers of roughly $40 to $60 has become so tight

Azerbaijan ready to extend output cut deal

Azerbaijan ready to extend output cut deal

Azerbaijan is ready to make deeper cuts in oil output if OPEC agrees to extend a deal on output cuts into the second half of this year, Azerbaijan's energy ministry spokeswoman Zamina Aliyeva said. "Azerbaijan …

Russia-OPEC: two months before dialogue

Russia-OPEC: two months before dialogue

Russia Needs Data on Oil Supply, Markets to Decide on More Cuts

 OPEC Expert Committee to hold another meeting

OPEC Expert Committee to hold another meeting

Algeria's Energy Minister Noureddine Boutarfa said that another meeting of the OPEC expert committee will be held on November 24-25. The first meeting of the expert committee is scheduled for …

Novak: Russia to receive additional $26 bln

Novak: Russia to receive additional $26 bln

Russia's budget in 2017 may receive additional revenues of some 1.5 trillion rubles ($25.9 billion) if global oil prices stand at the range of $50-$60 per barrel, the Russian Energy Minister Alexander Novak said. …

This is how many barrels of oil the 13 OPEC countries produced last month

This is how many barrels of oil the 13 OPEC countries produced last month

The oil cartel continues to dominate global oil markets

Novak: OPEC and non-OPEC compliance on production cuts at 93%

Novak: OPEC and non-OPEC compliance on production cuts at 93%

As of February, OPEC members and countries outside of the cartel cut their oil production by 93% of the planned level, Russian Energy Minister Alexander Novak said. He explained that the monitoring committee is …

Valery Nesterov: Oil will remain at the level of $ 50 per barrel

Valery Nesterov: "Oil will remain at the level of $ 50 per barrel"

Today, the Central Bank of the Russian Federation announced a conservative forecast for the oil prices

New Projects, Shale Boom Could Trigger Oil Oversupply by 2018-19

New Projects, Shale Boom Could Trigger Oil Oversupply by 2018-19

OPEC will have to extend its oil output curbs in order to sustain a recovery in prices

Oil prices are entering a bearish trend despite supply deal

Oil prices are entering a bearish trend despite supply deal

Oil prices have entered a bearish trend despite short-term bounces, supply cuts and improved demand estimates

Saudi Arabia continue reducing oil output

Saudi Arabia continue reducing oil output

Saudi Arabia’s crude oil exports dropped by about 300,000 barrels per day (bpd) in January, official data showed on Monday, as the top OPEC producer played its part in a global supply-cut pact to support prices and ease a glut. …