BP sends 3million barrels of oil on epic voyage to Asia, report says
BP is shipping nearly 3 million barrels of US crude worth around $150million to Asia via one of the world’s longest sea routes, a news report said.
OPEC
Russian oil producers support output cuts
Russia’s top oil producers have supported the Kremlin’s plans for cuts to oil production, a news report said.
Oil tanker market braces for worst year since ’13 as OPEC cuts
Oil-hauling supertankers are bracing for the worst earnings year since 2013 as they become collateral damage in OPEC’s quest to trim a global glut of crude.
Natural declines to count towards output cuts from non-Opec states
OPEC won’t insist that all countries participating in a global oil-supply accord actively cut their production, accepting natural output declines from some nations, according to three oil officials familiar with the matter.
BP Is Most-Exposed Among Oil Majors to OPEC-Russia Cuts
Big Oil may have to play a part in cutting supply after the landmark agreement between OPEC and non-OPEC producers last week.
Opinion: Have oil prices finally turned?
OPEC’s agreement to cut output for the first time in eight years has helped push up oil prices by nearly 10 per cent in the last week, but will the agreement hold and how will it impact UK business?
Free wine endangered on Asian airlines after OPEC accord
Some of Asia’s marquee airlines that spoil passengers with free alcohol and in-flight entertainment may soon have to kick the habit.
Oil falls from 16-month high as OPEC seeks wider cut cooperation
Oil retreated from the highest close in 16 months as OPEC prepares to meet producers from outside of the group on Saturday to widen cooperation with supply curbs.
Azeri Energy Minister plans Vienna visit for OPEC meeting
The Azeri Energy Minster said he plans to visit Vienna later this week to take part in a meeting between OPEC and non-OPEC nations.
Opec, non-Opec members to discuss output deal on Saturday in Vienna
Opec will meet nations from outside the cartel on Saturday in Vienna to firm up a deal on output reductions.
Brent caps biggest weekly advance since 2009 on OPEC agreement
Brent oil capped its biggest weekly gain since 2009 after OPEC approved its first supply cut in eight years, with attention now shifting to compliance with the deal and how other producers will react to a price rally.
Lukoil chief wants Kremlin to compensate firms for output cuts
A vice-president at Lukoil said today that the Kremlin should compensate Russian oil companies for production cuts that could be enforced following this week’s Opec output deal, according to a news report.
Oil heads for biggest gains in 15 months post Opec deal
Oil is headed for its biggest weekly gain in 15 months after OPEC approved its first supply cut in eight years, with attention now shifting to the deal’s implementation and how producers outside the group will react to any price rally.
EV readers’ poll: Tell us what you think will happen to oil prices
Opec has agreed to cut production by 1.2million barrels a day from January.
Oil markets set for ‘greater volatility’, IEA chief says
The head of the International Energy Agency has reportedly said oil markets are set for a period of “greater volatility” in the wake of Opec’s output reduction deal.
OPEC deal upends entire oil Market, not just prices
No matter where you look in the oil market, key markers watched by traders have been going haywire since Wednesday -- and they show little sign of letting up. Whether it’s a futures curve suddenly suggesting concerns that supply is shrinking or record trading of contracts designed to protect against price fluctuations, OPEC’s first output cut in eight years has sent the market into a spin.
Russia, Saudi phone call at 2am pivotal to Opec deal
After months of meetings from Doha to Moscow, it was a 2 a.m. phone call between two of the most powerful men in the global oil industry that finally broke the impasse.
OPEC decision will have delayed North Sea effect
OPEC’s landmark decision to curb output will have a delayed effect on the North Sea, according to a financial expert.
Oil extends rally, could hit $60, after OPEC deal as focus shifts to execution
Oil extended its biggest gain in nine months and crude producers rallied after OPEC approved the first supply cuts in eight years, with focus now shifting to how strictly it will implement its bid to ease a record glut.
Opec deal a ‘fabulous Christmas present’, says Colin Welsh
Opec’s pact on crude production is a “fabulous Christmas present” for the oil and gas sector, an Aberdeen-based energy finance expert said yesterday.
Ruddiman says Opec deal ‘not the end of the story’
The breakthrough on oil production by Opec members is “not the end of the story”, a leading industry lawyer warned yesterday.
All eyes on Russia in wake of Opec deal, Prof Kemp says
Oil traders' attention will turn to Russia following Opec’s landmark decision on crude output, a prominent petro-economist said yesterday.
De Leeuw hopeful Opec deal will inspire investors
An oil industry veteran said he hoped Opec's agreement on output would boost confidence among oil companies and attract more investment.
Opec confirms output deal, says Russia agreed to cuts
Opec today confirmed that its members had agreed to cut oil production by 1.2million barrels a day in an effort to rebalance the market.
Oil surges on reports of first Opec output cuts in eight years
Oil surged after OPEC was reported to have agreed the first supply cuts in eight years in an effort to ease a record glut and stabilize global markets.