Goldman warns oil bulls beware as uncertainty grips OPEC meeting
OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc.
OPEC
Opinion: Opec will extend the cut
There will be an OPEC deal extension—no matter the public tussling between opposing forces in the industry cartel—if the world's largest oil producers are really determined to end the supply glut.
Oil slips from highest in two years before OPEC meeting
Oil slipped from the highest close in more than two years after U.S. drillers expanded operations while OPEC and Russia prepare to discuss longer supply curbs.
Oil trades near highest in more than two years before Opec meets
Oil traded near the highest close in more than two years before OPEC meets this week to discuss extending supply cuts.
Opinion: War of words threatens to upend OPEC meeting
OPEC ministers head to Vienna, Austria, this week for the 173rd meeting of the Organization of Petroleum Exporting Countries. Brent crude prices are up almost 20 percent since the last meeting on May 25, 2017, while those for West Texas Intermediate are up around 10 percent. The Nov. 30 gathering is likely to have a different tone than the last two OPEC meetings because global oil demand has strengthened, inventories have tightened, prices are on the rise and trading technicals appear bullish.
Aramco sees oil market balanced as U.A.E. downplays shale
Global crude inventories are declining and supply and demand are in balance, according to the head of Saudi Aramco, while the United Arab Emirates energy minister said U.S. shale oil doesn’t threaten OPEC’s efforts to support the market.
Russia-OPEC reportedly agree framework to extend oil cuts
OPEC and Russia have crafted the outline of a deal to extend their oil production cuts to the end of next year, although both sides are still hammering out crucial details, according to people involved in the conversations.
Oil rises as Russia and OPEC reach reported outline deal on cuts
Oil advanced to a fresh two-year high as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts to the end of next year.
Oil sets itself up for fall if Opec can’t extend cuts
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
Oil holds strong at $58 as US supply drop adds to OPEC optimism
Oil stuck near a two-year high as a drop in US crude stockpiles added optimism to a rally underpinned by hopes for an OPEC deal extension.
Oil heads for two-year high as US stocks shrink ahead of Opec decision
Oil headed for its highest close since June 2015 while trading volume surged after U.S. industry data showed crude stockpiles resumed declines and as investors await a decision by OPEC on extending output cuts.
Wild swings in Iraq oil production give OPEC another problem
OPEC has an Iraq problem: the group’s second-biggest exporter is lurching between quota busting and production-crimping crisis, clouding the policy-making picture as ministers decide how long they need to extend output curbs.
Wild swings in Iraq oil production give Opec another problem
OPEC has an Iraq problem: the group’s second-biggest exporter is lurching between quota busting and production-crimping crisis, clouding the policy-making picture as ministers decide how long they need to extend output curbs.
For Houston, a lot is riding on Opec’s next big decision
Houston's economic health hinges on what OPEC does later this month.
Oil holds ground above $56 after surge on Saudi cut extension plea
Oil held gains above $56 a barrel after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month.
Adipec 2017: Opec chief says market rebalancing at ‘accelerated pace’
The head of Opec said today there were clear signs that the oil market is re-balancing at an "accelerated pace".
US shale to power ahead after cuts boost prices, Opec says
OPEC said shale oil production will grow considerably faster than expected over the next four years after the group’s output cuts triggered a crude-price recovery that helped U.S. producers.
Oil trades near 2-year high as Saudi upheaval spurs risk premium
Oil traded near the highest close in more than two years as political upheaval in top crude exporter Saudi Arabia reverberated through a market where prices were already elevated by signs of tightening supply.
Crackdown on billionaires, top officials shakes Saudi Arabia
Even by the standards of Crown Prince Mohammed bin Salman, whose meteoric ascent has put him on the cusp of the Saudi throne at the age of 32, the Saturday night crackdown was stunning.
Opinion: OPEC’s grand planners are already thinking about $70 oil
As recently as OPEC's last meeting, back in May, several oil ministers were talking quite casually about $50 a barrel as a good price for crude. Don't expect that to be repeated when they convene again at the end of this month.
Oil extends gains from 2-year high on signs of longer Opec cuts
Oil extended gains from the highest close in more than two years on signs OPEC will agree to extend supply cuts when ministers meet in Vienna at the end of the month.
Oil Near $54 amid uncertainty about OPEC-led production accord
Oil traded near $54 a barrel as two of the world’s largest crude producers provided conflicting guidance about the longevity of a historic supply agreement.
Top Opec ministers say longer cuts needed, but duration undecided
While OPEC and its allies agree their output-cut deal needs to be prolonged as bloated inventories won’t shrink to normal levels by March, they’re yet to reach consensus on how long the pact must be extended, according to ministers from three of the top producers.
Oil investors roll the dice on OPEC as Saudi prince ups the ante
The OPEC trade is back, and Saudi Arabia is in the driver’s seat.
Oil hovers close to $52 as OPEC touts record compliance, rig count drops
Oil traded near $52 a barrel as OPEC reported record compliance with pledged production cuts and U.S. drilling slowed again.