Tag: OPEC
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Eyeing competitors, OPEC+ countries will keep cutting oil production
Several OPEC+ countries are extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting what they are labeling "the stability and...
Columns
Don’t roll out the barrels: Oil prices fall in view of slow recovery
Oil prices were down on April 24 as traders believe economic recovery will be slower than expected hurting global oil demand. A decision by...
Columns
World better prepared for Russian energy weapon in 2023
China’s demand for energy, the amount of Russian oil that will be cut from global supply will be key factors which will determine where the oil price trades in 2023.
Energy
Oil prices shrug off cap as Russia fires back with price floor threat
Oil markets will likely stay volatile in the near term amid uncertainty over the impact on Russian output from the EU's ban, headlines on China's COVID policy and central bank movements in the U.S. and Europe.
Energy
OPEC+’s massive supply cut is a clear win for Russia
The Organization of Petroleum Exporting Counties (OPEC) and its Russia-led allies of oil-producing nations struck a major blow against the West's sanctions against Moscow...
Global Energy Insider
Countering loss of Russian oil over penalties, US opens reserve pump
After consultation with allies and partners, US President Joe Biden announced on March 31 the largest release of oil reserves in history, putting one...
Energy
Slow pump: OPEC+ will raise supply, can’t cool prices
The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group known as OPEC+, said on February 2 the ministers...
Energy
The Year of Good Energy?
The Covid pandemic, geopolitics, climate change, energy and the economy are likely to be key issues in 2022.“What we have to have when we’re...
Archive
Oil climbs as OPEC+ may delay further supply recovery if there is a slump in demand
Oil prices climbed on December 3 after the Organization of the Petroleum Exporting Countries (OPEC), and oil producing allies led by Russia, a grouping...
Archive
Fearing recovery setback, OPEC+ sticks to plans to raise oil output gradually
The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group so called OPEC+, dismissed demands from the United States...
Archive
Covid recovery, supply chain woes ratchet up oil prices
Oil prices hit multi-year highs this week as Covid recovery and coal, electricity and natural gas shortages are fueling demand for crude.“It has a...
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Satisfied OPEC+ keeps oil supply status quo
At the OPEC+ meeting, which came against a backdrop with Brent trading just under $80 per barrel, oil ministers decided on October 4 to...
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OPEC+ keeps output increase to 400,000 bpd despite US calls for more supply
Oil prices increased on September 3 after slow recovery for US Gulf Coast exports from hurricane Ida earlier this week and the decision by...
Archive
Oil prices fall on signals Fed will start tapering stimulus measures
Oil prices fell to three-month lows this week due to the signal from the Federal Reserve that it will start tapering stimulus measures and...
Archive
Revised OPEC+ deal very favourable for Russia
As the global economy recovers from the Covid pandemic fueling oil prices, OPEC+ countries, including Saudi Arabia and Russia, reached a deal via videoconference...
Archive
OPEC+ seeks agreement on oil production policy
The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC, an energy alliance often referred to as OPEC+, was expected to reconvene via teleconference on...
Archive
China tensions, Iran nuclear talks support oil price hike
Oil prices traded close to a three-year high on June 24, supported by geopolitical tensions, including China and Iran, falling US inventories and prospects...
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The last party in the oil market
The Organization of the Petroleum Exporting Countries (OPEC) and other major crude producers led by Russia, a group so-called OPEC+, agreed on June 1...
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OPEC+ meets as Saudis keep finger on the pumps, Russia wants gradual output increase
The Organization of Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, convened for talks chaired by Saudi Energy Minister Abdulaziz...
Archive
Saudi Arabia, Russia coordinate policy as OPEC+ leaves oil output unchanged
The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group so-called OPEC+, met by videoconference on March 4...
Archive
In time of pandemic, OPEC+ stands pat, sees oil rebound this year
The Organization of Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+, reportedly maintained its oil output policy at...
Archive
Slick OPEC+ scheme boosts prices: Saudis cut, Russia, Kazakhstan raise
Oil prices climbed more than 4% on January 5 after OPEC+ reached an unusual production quotas agreement, with Saudi Arabia committing to cut the...
Archive
OPEC+ allows Kazakhstan to increase oil production in February and March
NUR-SULTAN, Kazakhstan - OPEC+ countries reached agreement on the terms of the deal for February and March. Russia and Kazakhstan, which has raised the...
Archive
Crude oil price rally may face supply side pressure in early 2021
Oil traders are optimistic the start of the deployment of vaccines means that an end to the worst economic ravages of the COVID-19 pandemic...
Archive
OPEC+ likely to extend oil cuts seeing slow fuel demand recovery from vaccines
Oil prices climbed to their highest in more than eight months on November 25 fuelled by continuing hopes that energy demand will recover once...
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