Tag: non-OPEC
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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...
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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...
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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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Russia, Saudi Arabia eye COVID-19 oil cut to hike prices
Russia and OPEC-kingpin Saudi Arabia are reportedly mulling to delay an increase in oil production in January, maintaining an output cut aimed to raise...
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Oil reflux: OPEC+ pumps up volume after COVID-19 cutback
The Organization of the Petroleum Exporting Countries (OPEC) and its oil producing allies led by Russia, a group known as OPEC+, reportedly agreed on...
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Russia, Saudi Arabia scrap opens oil pipes, floods market
While Moscow is in a much better financial position today than Saudi Arabia, or Russia’s position in 2014, Russia stands to lose a lot...
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Playing Russian roulette with the US shale oil industry
The rapid growth of the US shale industry seems to be at the heart of the Saudi-Russia crude oil price war. Already weak from...
Energy
Kazakhstan calls for consensus on OPEC+ deal
NUR-SULTAN, Kazakhstan – Kazakhstan’s Energy Minister Nurlan Nogayev on 11 March called for the Organization of Petroleum Exporting Countries (OPEC) and its allies led...
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Oil price war
Crude prices plunged to record lows on 9 March as an oil price war between Saudi Arabia and Russia commenced after the latter refused...
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COVID-19 no hit for Russian oil exports to China
Russia’s oil exports to China were almost unaffected last month amid the coronavirus outbreak as the East Asian country has been benefiting from lower...
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Coronavirus hits oil too, worries plunge prices
Oil prices fell more than 2% on 3 February, as traders were concerned over demand in China following the deadly coronavirus breakout but prices...
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OPEC+ becomes OPEC- with oil production cuts
The Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia, a group known as OPEC+, have reportedly agreed to...
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Saudi-Iran spat over drone attacks fuel oil prices
Increased tensions in the Middle East have fuelled oil prices this week. On 16 May, crude oil prices increased more than 1% as a...
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OPEC+ oil production cuts, possible US-China trade deal boost oil prices
Supply cuts led by the Organization of Petroleum Exporting Countries (OPEC), US sanctions against Iran and Venezuela and the possibility of a US-China trade...
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US oil production may undermine OPEC-Plus cuts
The United States becomes a net energy exporter in 2020 and remains so throughout the projection period as a result of large increases in...
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Slower global economic growth can lead to lower oil and gas prices in 2019
Oil prices are unlikely to rise significantly this year because of fears of an oil supply glut caused by over production and reduced oil...
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Putin voices support for OPEC, sees no need to cut production
Russian President Vladimir Putin reportedly said on November 15 that Moscow is committed to continuing its cooperation with the Organization of Petroleum Exporting Countries...
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Oil prices likely to rise as US plans to officially pull out of Iran deal
US President Donald J. Trump has said the United States will pull out of a nuclear agreement with Iran and any company dealing with...
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Saudi Arabia, Russia may extend OPEC, non-OPEC oil output deal
Plans of the Organization of the Petroleum Exporting Countries (OPEC) and other supplies, especially Russia, to possibly continue curbing oil production for the rest...
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Iraqi-Kurdish battles send oil prices gushing, retreating
Oil prices surged from October 13 through October 18 as fighting between Iraqi and Kurdish forces intensified, threatening supplies from northern Iraq, while markets...
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Russia takes pass on Qatar conflict with Arab neighbours
MOSCOW – Russia, which has called for dialogue to tackle the political rift in the Arab world over Qatar, will not take sides in...
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OPEC, non-OPEC extend oil cut as cooperation with Russia improves
VIENNA - In an effort to reduce a global crude oil glut and boost prices, Members of the Organization of Petroleum Exporting Countries and...
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