Trump’s OPEC tweet off the mark, not conspiracy, says Texas senator
President Trump's early morning tweet on Friday accusing OPEC of artificially raising oil prices "very high" isn't exactly right, Texas U.S. Sen. John Cornyn said.
OPEC
“No good and will not be accepted!” Trump attacks OPEC for high oil prices
OPEC - the Organisation of Petroleum Exporting Countries - has come under fire from US President Donald Trump for producing "artificially very high" oil prices.
Oil rally stalls as OPEC is said to see goal nearly accomplished
Oil’s rally stalled as OPEC and allied crude producers gathered in Saudi Arabia amid signs a worldwide glut has been mostly eradicated.
Oil rebounds as Opec signals deal extension
Oil rebounded from the biggest loss in more than a week as OPEC hinting at extending output cuts fanned optimism and investors anticipated a drop in U.S. stockpiles.
OPEC near `mission accomplished’ as oil glut vanishes, IEA says
OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said.
Iraq postpones upcoming oil and gas bidding round
A senior Iraqi official has revealed that the country will postpone its planned oil and gas bidding round, originally planned for the 15 April.
OPEC political crises threaten to double its million-barrel cut
The deal OPEC struck in 2016 to clear a global glut by halting a significant chunk of oil production took almost a year of bargaining and brinkmanship. By year-end, the group may have lost the same amount of crude unintentionally.
Competed Iraqi pipeline will ‘boost’ crude exports, claims oil minister
The newly completed southern crude oil export pipeline will “boost” crude oil exports from Iraq’s ports, claimed the country’s oil minister Jabar al-Luaibi last night.
OPEC output falls to lowest in a year as Venezuela’s woes deepen
OPEC crude production dropped to the lowest in a year amid the woes in Venezuela’s oil industry.
OPEC reaches record compliance to deal with global supply glut
Compliance with a deal to cut global oil output reached record levels in February, according to a committee of OPEC and non-OPEC countries.
OPEC said to discuss changing measure of success for supply cuts
OPEC and its allies held further discussions about changing the way they measure the impact of their production cuts, including proposals that would affect how quickly they hit their target, according to delegates from the group.
OPEC acknowledges scale of shale boom as supply outstrips demand
OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.
OPEC says shale won’t thwart plan to clear glut
Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president.
Big Banks Accept OPEC Was Right as They Embrace Oil Near $80
Wall Street’s biggest banks have changed sides and are embracing a surge in oil prices.
Iraq oil-export ambitions seen putting strain on OPEC accord
OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon.
Opinion: Are we there yet, OPEC? Oil policy needs a destination
Are we there yet?
Brent recorded above $71 for first time since 2014
Brent crude rose above $71 per barrel earlier today for the first time since 2014 thanks to a drop in US oil stocks.
Opec output cuts expose oil to volatility once again
The unintended consequence of OPEC’s quest to drain a global oil glut may be a sharp rise in price volatility as the buffer against worldwide turmoil and disruptions is stripped back.
OPEC Discipline Arrests Crude Oil’s Fall From Three-Year High
Crude halted its biggest slide in more than a week as OPEC showed increased determination to curb production.
Updated: Oil extends slide on speculation hedge-fund buying went too far
Oil continued to slide from a three-year high on speculation that a record long position built up by money managers leaves prices vulnerable to a pullback.
Updated: Oil trades near three-year high as Iraq joins call to keep cuts
Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers for OPEC-led output cuts to continue, despite recent price gains.
Opinion: Pressure rising on OPEC to manage long-term output
The battle between OPEC and shale oil producers can be characterized as a two-round fight. In the first round, shale producers gained market share and the price of crude crashed. In the second, OPEC curbed output as shale producers adapted to the lower prices. Now, get ready for round three, as OPEC and Russia try to plot a way out of their production cuts but likely get stymied by market twists and turns that upset their calculations.
Opinion: Hot money’s pushing oil to $70, but OPEC should keep cool
Brent crude touched $70 a barrel on Thursday, a level it last saw three years ago. That might start to look like a level where OPEC could say that its work to rebalance the market is done.
UAE says Opec committed to supply cuts through 2018
OPEC will stick with production cuts for the rest of the year as the group makes headway toward its goal of clearing an oversupply of crude, United Arab Emirates Energy Minister Suhail Al Mazrouei said Thursday.
Opec will try to talk prices down if oil tops $70, Goldman says
OPEC would try to talk down an oil rally above $70 a barrel to cushion the impact on the global economy and rival supplies, according to Goldman Sachs Group Inc.