When OPEC met to extend cuts, output rose most in six months
As OPEC and its partners last month agreed on prolonging production cuts, the group’s output was climbing the most since November as members exempt from the deal restored lost supply.
OPEC
OPEC oil demand projected to grow in second half of 2017
OPEC’s monthly oil market report has forecast that demand for their oil will pick up in the second half of the year.
Output rose most in six months during Opec meeting on extending cuts
As OPEC and its partners last month agreed on prolonging production cuts, the group’s output was climbing the most since November as members exempt from the deal restored lost supply.
OPEC production up in May, compliance high among production quota members
OPEC’s crude output was up 270,000 barrels per day in May – driven by output recoveries in Libya and Nigeria- both of which are exempt from the cut agreement, according to an S&P Platts Global Survey.
OPEC deal extension isn’t enough to rope in crude oil bulls
The good news from OPEC wasn’t good enough.
Russia-Opec deal quickens decline of Siberian oil heartlands
Russia’s deal with OPEC has bolstered state coffers by putting a floor under crude prices, but it’s also had one unintended consequence: depressing output in the nation’s West Siberian oil heartlands.
Opinion: Crude could hit $60 if nations stick to output cuts
As expected following comments ahead of the meeting on behalf of Saudi Arabia and Russia, OPEC members have agreed to prolong the existing production curtailment (a cut of 1.8m bbl/d including Russia’s cuts) to the first quarter of 2018. OPEC has a self-imposed goal of bringing stocks down from a record high of 3bn bbls to the five-year average of 2.7bn bbls.
Oil below $50 amid Opec deal pessimism
Oil traded below $50 a barrel after OPEC underwhelmed investors with its production-cut extension deal.
Brent slumps almost 4% on Opec disappointment
Oil prices fell about 4% on Thursday, on track for their biggest daily drop in three weeks, after Opec's decision to extend production curbs fell short of expectations of deeper or longer cuts.
Interactive map: Find out who’s who in OPEC
The OPEC members are set to meet this week, with talks about extending the supply cut high on the agenda.
A history of OPEC – how we got where we are today
As the OPEC members prepare to meet today, and with talks about extending the supply cut extension expected to dominate the agenda, Energy Voice takes a look at the history of the Cartel from its formation through to the present day.
OPEC committee recommends nine-month oil-cuts extension
OPEC and its allies came one step closer to agreeing to extend their oil supply deal after a ministerial committee recommended another nine months of cuts.
OPEC fails to cut global oil glut, but gets more cash anyway
At first glance, OPEC’s cuts haven’t worked -- global oil inventories remain well above normal levels. But the policy’s made a difference where it really counts: juicing the coffers of finance ministries from Baghdad to Caracas.
Production cuts have worked, but we need an extension, Kemp and de Leeuw say
Oil nation’s efforts to re-balance the market via a deal on production cuts have worked, industry experts said, adding that extending the agreement is the right move.
Oil could hit $60 if OPEC cuts are extended, analyst claims
Oil could hit $60 a barrel by the year end if the OPEC pact to curb oil output is extended, a leading market analyst has claimed
Statoil CEO ‘optimistic’ over OPEC cut extension
Statoil's chief executive Eldar Saetre is "optimistic" that OPEC and non-OPEC countries will agree to extend oil output curbs to reduce a global supply glut.
Will oil prices surge after Opec meeting?
Oil prices could touch highs last seen in April when the Organisation of the Petroleum Exporting Countries (Opec) convenes its next meeting in Vienna on 25th of May, WisdomTree’s Nizam Hamid has said.
Interactive map: Find out who’s who in OPEC
The OPEC members are set to meet this week, with talks about extending the supply cut high on the agenda.
Saudis see all ‘on board’ to extend oil output cuts for nine months
All producers agree to extend crude output cuts by nine months to help trim a supply glut, according to Saudi Arabia’s energy minister.
Opinion: US shale immune to an oil price crash in 2017
Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.
Oil up as US supply decline signals Opec progress
Crude markets are getting some encouragement from the U.S. as supplies fell for a sixth week -- a sign that OPEC-led production curbs are starting to be felt in the world’s biggest oil-consuming nation.
OPEC prolonging cut would achieve mission to clear oil glut
The world’s two biggest oil exporters seem to have finally figured out how to eliminate a global surplus that’s kept crude prices in check for almost three years.
Good news for crude as bets on Opec rally are gone
Hedge funds have undone all their wagers on an OPEC-driven oil rally, and that could be good for prices.
Oil jumps as Saudis, Russia favor extending output deal to 2018
Oil jumped to its highest level in two weeks after the Saudi Arabian and Russian energy ministers said they are in favor of extending a production-cut deal for nine months.
US shale’s favorite financial trick getting less attractive
Oil bulls, take heart! U.S. drillers have dramatically reduced their hedging activity, a move that could portend a break in the production gains that have upended global crude prices.