Oil gains as OPEC says all options on the table
Oil extended gains as OPEC and its allies reiterated that all options are open to re-balance the market.
OPEC
Opinion: OPEC dithering on output cuts could kill oil’s rally
Brent crude's brief flirtation with a $60 price level already seems to be fading. OPEC and its friends are facing their last chance to swing sentiment in the oil market this year. They shouldn't get too precious about it. What ministers say at their Nov. 30 meeting may have little bearing on what they actually do, but it could have a big impact on prices.
WATCH: OPEC Secretary General discusses bid for extending production cuts
Opec’s Secretary General Mohammad Barkindo sat down to discuss the steps to build a consensus to extend production cuts. The industry veteran also discusses market impact surrounding the uncertainty of the Iran nuclear deal. Watch the video to find out more.
WATCH: OPEC Secretary General: ‘World can’t afford supply crunch’
Opec Secretary General Mohammad Sanusi Barkindo has warned against a potential supply crunch the "world simply cannot afford".
OPEC sees `extraordinary’ steps needed for stable market in 2018
Oil producers are succeeding in re-balancing an oversupplied market, though they may need to take further steps to sustain the recovery into 2018, OPEC Secretary-General Mohammad Barkindo said.
Saudi OPEC leadership shows no good deed goes unpunished
This isn't the result the Saudis were looking for, and they might just decide to fight back.
Production decline rates diminish hopes of crude price rise, Woodmac says
The rate of non-Opec production decline will remain steady through to 2020, creating disappointment for companies pinning their hopes on crude price rises, a new report said.
OPEC members express concern over Libya’s near million barrel output
Libya’s oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day even as OPEC and its allied suppliers step up efforts to contain a global glut.
North Sea ‘still tough going economically’ despite predicted end to lower-for-longer
Professor Alex Kemp today said that the North Sea still has some way to go until it sees the reported end of 'lower-for-longer'.
Updated: Oil treads water as Opec silent on supply-cut extension question
Oil barely moved after an OPEC gathering concluded with no decision on an extension or deepening of supply cuts.
Opec and Russia hold steady on cuts as oil market improves
OPEC and Russia said they were about halfway toward clearing a global oil glut and urged fellow producers to stay focused and finish the job, without making any immediate changes to their agreement.
Updated: Opec, allies play waiting game on extending oil cuts
OPEC and its allies indicated that they’ll wait a bit longer to see if further action is required in their bid to clear a global oil glut.
Success at last for Opec, but oil rally may be short-lived
When OPEC and its allies gather this week, they’ll have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived.
Crude surrenders gains as traders assess Harvey storm damage
U.S. gasoline prices rose a sixth day and crude traded near $47 a barrel as traders assessed the risk to refineries and supply before a second hit on Texas from Tropical Storm Harvey.
Oil slide stops at $48 as US stocks drop again
Oil halted its slide near $48 a barrel as industry data showed US crude stockpiles declined again, further trimming an inventory surplus.
US oil drillers keep pressure on OPEC with record shale output
Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices.
Compliance with output cuts ‘falls to new low’, IEA says
Compliance with output quotas agreed between oil producing states has hit its lowest level, the International Energy Agency said today.
OPEC boosts oil-demand outlook while its production rises
OPEC boosted estimates of demand for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply.
Oil loses ground after best week of 2017
Oil is back down again this week following the year’s biggest rally as investor focus shifted to rising output from the US and OPEC, away from a seasonal increase in American fuel demand.
Oil rises above $50 as OPEC trims exports, sets meeting on cuts
Oil closed above $50 a barrel in New York for the first time in two months as OPEC reduces shipments to the U.S. and is set to meet with allies.
Oil above $50 as Opec prepares to meet allies on compliance
Oil in New York briefly rose above $50 for the first time since May after OPEC said the group and its partners will meet next week to discuss why some nations are falling behind on their pledge to cut production.
Opec to meet non-Opec states to discuss weaker cuts compliance
Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi on Aug. 7-8 to discuss why some of them are falling behind in their pledges to cut production, according to an OPEC statement.
Saudis to tackle output quota compliance issues ‘head on’
Saudi Arabia, OPEC’s biggest oil producer, plans to step up pressure on nations that aren’t complying with their commitment to cut output, including a proposal to start monitoring exports.
Update: Oil rises as Saudi pledges deep cut to August exports
Oil rose as Saudi Arabia said it would make deep cuts to its crude exports in August and encourage better compliance with supply reductions from other producers.
Output caps for Libya, Nigeria ruled out for now
Limiting oil output from Nigeria and Libya won’t be on the agenda when OPEC and other producers meet on Monday, with both African nations saying they’ll need to keep pumping at a higher level before they can join a global effort to stem a supply glut, according to two people familiar with the planned talks.