Organization of the Petroleum-Exporting Countries (OPEC)

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Putin discusses oil with Trump and Saudi King

In the course of the conversation with U.S. President Donald Trump and Saudi King Salman bin Abdulaziz Al Saud, Russian President Vladimir Putin confirmed the determination to coordinate actions …

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OPEC+ adopts declaration on cooperation

OPEC+ had adopted a new declaration on cooperation during the online video conference to discuss the terms of a new oil output cut deal, Azerbaijan's Ministry of Energy said. The ministry said in a statement that OPEC+ had …

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OPEC+ meeting nears with resolve for deep oil cuts

OPEC and its allies are moving closer toward a historic deal to take at least 10% of global crude supply off the market as they get set for the first of two critical meetings later Thursday, with key producers Saudi Arabia and Russia signalling …

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Oil pandemic

Oil prices rose this morning on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. Brent …

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Trump: U.S. already cut back oil production

U.S. President Donald Trump said that U.S. oil producers have already cut production and he had many options if Saudi Arabia and Russia do not reduce their output when they and other exporters meet on Thursday. "Look, we already …

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OPEC announces readiness to radically cut oil output

The Organization of Petroleum Exporting Countries (OPEC) has developed several options for reducing oil output for the OPEC + meeting, which will be held on April 9, Bloomberg reports with reference to the organization’s materials. …

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Thirty-six countries invited to OPEC+ meeting on April 9

The Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) invited 36 countries, including the United States, Canada, the United Kingdom, Norway, and Brazil, to the OPEC+ ministerial meeting, which will be held on …

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OPEC+ teleconference postponed

The OPEC+ teleconference has been postponed from April 6 to April 9 for technical reasons, Kremlin Spokesman Dmitry Peskov said, adding that relevant preparations are underway. "It [OPEC+ teleconference] has been rescheduled …

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OPEC+ meeting to be held on April 6

The meeting of the OPEC+ group of oil producers is planned for April 6, Azerbaijan’s energy ministry said. "Azerbaijan has been invited to take part in the meeting that will be dedicated to finding the ways of …

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OPEC+ talks to be held next week?

OPEC started preparations for negotiations within the OPEC+ framework, initiated by Saudi Arabia. The meeting may take place next week, a source taking part in the preparations said. "The meeting may take place next week. We …

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Oil for $1.75 a barrel?

The long-term ramifications of the COVID-19 outbreak on the oil industry could be significant and long-lasting

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