Brent may return to $70 following OPEC deal, says analyst
Opec and its allies have agreed to cut global oil production by 1.2million barrels per day in a bid to end the recent oil price fall.
OPEC
OPEC agrees on larger-than-expected oil cut after marathon talks
OPEC finally broke an impasse over production curbs, agreeing on a larger-than-expected cut with allies after two days of fractious negotiations in Vienna.
Oil rebound if traders convinced OPEC cuts are ‘for real’
A backstop could be placed on the recent oil price freefall if traders are convinced OPEC proposals to cut production are "for real", according to a leading petroleum economist.
OPEC talks end without oil-cuts deal as Russia holds back
OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding.
OPEC expected to cut oil production to support price
Opec countries are meeting to find a way to support the falling price of oil, with analysts predicting the cartel will agree to cut production by at least one million barrels per day.
All eyes on Vienna – OPEC+ must cut 1.5m barrels or wave goodbye to recovery
OPEC and its allies must cut oil production by 1.5 million barrels per day next year if they want crude prices to surge above $70 again, an analyst said today.
OPEC deal in balance as Saudi Arabia, Russia meet for talks
As ministers from OPEC and its allies arrive in Vienna for crucial talks, all have made clear they agree on the need for a cut in oil production. But none have explained how they’ll turn that desire into a reality.
Oil dips as Saudis say OPEC cut still up in the air
Oil gave up some earlier gains after Saudi Arabia’s oil chief indicated OPEC and allied producers have yet to reach consensus on whether supply curbs are in order.
Oil rides biggest two-day gain since June as fear of glut eases
Oil headed for its biggest two-day advance since June as concerns over a supply glut eased on hopes that OPEC and its allies will strike a deal to stabilize the market.
Saudi leadership of OPEC shaky after Qatar’s surprise exit
Qatar’s “surprise” decision to withdraw from OPEC raises questions about the loyalty of the cartel’s remaining members, analysts said.
Canada’s OPEC-style cut stirs ‘slippery slope’ meddling concerns
While Alberta’s plan to mandate OPEC-style production cuts already is boosting oil prices and shares, the revival of Canada’s resource nationalism adds another layer of risk for investors to consider.
Iran warns oil will slump to $40 if Opec fails to cut production
Oil prices will slump to $40 a barrel unless OPEC and its allies cut output significantly, and the group is unlikely to succeed in reviving the market, an Iranian official said.
Oil jumps most since June as Canada cuts after Saudi-Russia pact
Oil was jolted higher by efforts across the globe to support prices as Saudi Arabia and Russia extended their pact to manage the market and Canada’s largest producing province ordered unprecedented output curbs. Prices retreated slightly after Qatar said it was leaving OPEC.
‘Cocktail of uncertainty’ predicted for OPEC meeting
A “cocktail of uncertainty” awaits members of the OPEC oil cartel ahead of a meeting next week to discuss whether to cut oil production, according to an analyst.
Iraqi oil surge puts hurdle on Opec’s path to production cuts
The biggest snag in OPEC’s push for a consensus on cutting oil output could come from relentless growth in supply from its second-biggest producer.
Oil market hinges on Saudi dilemma: Bust budget or anger Trump?
The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy.
‘Dramatic’ oil slide given ‘lack of catalysts’, says analyst
There has been a “dramatic” oil price slide, given "a lack of catalysts”, according to a leading analyst.
Oil resumes slide as fears persist over looming supply surplus
Oil slipped again on persistent fears that a surplus will re-emerge next year despite OPEC’s plans to cut production.
OPINION: Can we expect a major rebound in oil prices?
After declining by more than 20 percent from the October peak, oil prices are showing some signs that they have now bottomed out.
IEA welcomes return of oil surplus after OPEC production surge
The International Energy Agency welcomed the oil market’s return to surplus as OPEC’s production surge swells global stockpiles and drives prices into a bear market.
OPEC president says group, allies will cut output as needed
OPEC and allied oil producers will cut or adjust production as needed to balance the market, the group’s president, United Arab Emirates Energy Minister Suhail Al Mazrouei, said Wednesday.
Energy companies lead US stocks lower after oil price plunge
The steepest drop in oil prices in more than three years put investors in the US in a selling mood, extending a losing streak for the S&P 500 index to a fourth day.
Oil extends record losing streak as Trump blasts Saudi plan
Oil fell for a 12th day, its longest losing streak on record, after U.S. President Donald Trump criticized Saudi Arabia’s plan to cut output.
Saudis see need for major oil supply cut as fears of a glut grow
Saudi Arabia said OPEC and its allies should reverse about half the increase in oil output they made earlier this year as fears of shortages are supplanted by concerns about oversupply and collapsing prices.
Prospect of OPEC cuts reins in oil market bears
Oil climbed after a record run of losses as Saudi Arabia said it will reduce crude sales in December and speculation rose that OPEC and its allies will cut output next year.