oil prices

Saudi's Falih: world needs 1 mln bpd extra oil supply

The world faces a large oil supply deficit in the second half of 2018 and hence releasing additional supplies of around 1 million barrels per day is required to prevent a market squeeze, Saudi Energy Minister Khalid al-Falih …

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Russia proposes oil output hike to OPEC+

Russia plans to propose increasing oil production by the OPEC+ deal members by 1.5 million barrels per day (bpd), the Russian Energy Minister Alexander Novak said. "The market is growing, (oil) demand is growing …

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Will OPEC+ ease oil deal?

OPEC members are discussing a compromise agreement that would see an oil production increase of 300,000-600,000 barrels per day over the next few months, according to people briefed on the talks, Bloomberg reported. OPEC officials are …

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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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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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Riyadh starts to ramp up oil output - WSJ

Saudi Arabia has started boosting oil production after two years of curtailing output, a move that gives Riyadh a jump on other OPEC producers who are expected to open the spigots later this month, Wall Street Journal writes. …

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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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