Organization of the Petroleum-Exporting Countries (OPEC)

Oil falls $2 a barrel ahead of OPEC meeting

Oil prices fell more than $2 a barrel Friday after two of the world's biggest producers indicated they might increase output at next week's OPEC meeting, while U.S. exports were threatened by potential Chinese tariffs on crude oil and …

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Oil steadies ahead of OPEC meeting

Oil prices steadied, but still faced pressure from evidence of rising U.S. output and uncertainty over the outlook for supply before a meeting next week of the world's largest exporters. Benchmark Brent crude oil was up 10 cents at …

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Trump renews attack on OPEC for high oil prices

U.S. President Donald Trump said that oil prices were too high and blamed OPEC, renewing his attack even as prices fell on Wednesday amid expectation that the group may relax its output cuts later this month. "Oil …

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OPEC raises Russia's oil output forecast

OPEC has increased its outlook for Russia's oil output this year by 0.03 million barrels per day to 11.07 million barrels, according to OPEC's June oil market report. "Given the output level over the past few months, data …

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Russia's Gazprom Neft readies for oil output hike

Gazprom Neft, the fastest-growing Russian oil major in terms of output, is ready to hike crude production if the global deal on output cuts is eased, company head Alexander Dyukov said. "It is obvious now that the …

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Trump asks OPEC to increase oil output?

The U.S. government has asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels a day, according to people familiar with the matter. The rare request came after U.S. retail gasoline prices …

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Iran seeks OPEC support against US sanctions

Iranian Oil Minister Bijan Zanganeh has asked OPEC president, United Arab Emirates Energy Minister Suhail al-Mazrouei to support it against new U.S. sanctions. “I would like to seek OPEC’s …

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$100 a barrel oil not expected

There is no reason for oil to hit $100 a barrel,  BP Chief Executive Bob Dudley said. "There are people who predict the oil price of $100 per barrel. I do not think it will reach $100 unless there are any …

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Novak predicts oil prices

The average price for oil in 2018 may reach $ 65-75 per barrel, the Minister of Energy of the Russian Federation, Alexander Novak said. "I think the average prices can be at the level of $ 65-75, in this range," he said to the …

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