Citigroup researcher says Opec output deal ‘probable’
OPEC and Russia will probably be able to reach an accord to reduce crude production and boost prices, according to Ed Morse, head of commodity research at Citigroup Inc.
OPEC
Militants attack pipeline day after crucial talks with Buhari
Militants in the Niger Delta have attacked another pipeline a day after regional leaders made a number of demands to President Muhammadu Buhari.
Oil price rallies from longest losing streak in months
Oil rebounded from its longest losing streak in two months as uncertainty over an OPEC deal to manage output amid growing U.S. crude stockpiles and the upcoming American election kept markets volatile.
OPEC special-case nations add 450,000 barrels in threat to deal
The OPEC countries claiming exemption from a deal to limit oil production increased output by almost half a million barrels last month, potentially jeopardizing the group’s agreement unless other members deepen their own cuts.
Oil losses extended as US stocks further add to glut
Oil extended losses from the lowest close in more than a month after weekly industry data showed U.S. crude stockpiles expanded, exacerbating an inventory glut.
More OPEC exemption requests spur wagers on oil-price slump
The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
Opec bickering as oil price drops two days in a row
Oil declined for a second day as OPEC’s internal disagreements undermined efforts among major suppliers to reach an agreement in Vienna on trimming output to support prices.
Iraq reveals oilfields output to win over OPEC ahead of meeting
Iraq published data showing a rare level of detail for its oil production and exports, a week after inviting energy reporters to Baghdad to make a case that the country is pumping more crude than analysts and OPEC acknowledge.
OPEC splits prevent deal with other producers to curb supply
OPEC’s internal disagreements over how to implement oil-supply cuts agreed to last month prevented a deal to secure the cooperation of other major suppliers.
OPEC said to end first day of Vienna talks without a deal
OPEC ended its first day of meetings in Vienna without reaching a deal on country quotas, delegates who took part in the talks said.
Oil heads for weekly drop as OPEC meets to discuss output quotas
US oil is set for the first weekly drop since mid-September as an OPEC committee meets in Vienna on Friday to discuss output quotas for members participating in an agreement to cut production.
OPEC can’t succeed alone as cuts would barely drain surplus
Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground.
Saudi Arabia faces deeper OPEC cuts after Iraq opts out of deal
Saudi Arabia faces the prospect of much deeper -- and financially painful -- oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched in Algiers.
Oil price hovers at $50 over OPEC uncertainty
The FTSE 100 made gains and sterling was flat as investors awaited a key government decision on airport runway expansion, and comments from Bank of England governor Mark Carney at the House of Lords.
Oil rises as OPEC chief Barkindo seeks to resolve output plan
Oil climbed with OPEC’s secretary-general set to visit Baghdad on Tuesday for talks aimed at resolving a deal on output after Iraq said it should be exempt from planned cuts.
OPEC’s move sparks profit-taking among long oil investors
Investors around the globe are said to have 'jettisoned' leveraged oil and switched to short the commodity following the announcement from the Organisation of Petroleum Exporting Countries (OPEC) that it will cut production.
Opec says oil markets rebalancing, hails Russian involvement
Opec’s secretary general said today that the rebalancing of the oil and gas market was under way following a recent agreement to cap crude output.
Iraq’s deputy oil minister defies OPEC, says output surpassed 4million bpd
A defiant deputy oil minister said his country “was not going back in any way”.
Oil halts rally above $50 as Iraq signals break from OPEC cuts
Oil halted its advance near $50 a barrel as Iraq threatened to derail OPEC’s plan to stabilize crude markets by saying it should be exempt from planned output cuts.
Iraq balks at joining OPEC cuts, making oil output deal harder
OPEC’s second-largest producer threw an obstacle in the group’s path toward a final deal to stabilize oil markets when Iraq balked at joining efforts to trim output to prop up crude prices.
Iran’s Supreme Leader accuses OPEC members of using “oil as weapon” in compliance with US
Iran’s Supreme Leader took to his Twitter account to accuse OPEC member of “using oil as weapon in total compliance with US polices".
Russian, Gulf Arab oil ministers meet as OPEC cut looms
Russia’s energy minister met with counterparts from Saudi Arabia and other Arab Gulf oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win cooperation from the biggest supplier outside the group in limiting output to prop up prices.
Give us a seat at OPEC output meeting, Venezuela’s Maduro says
Venezuelan President Nicolas Maduro wants to invite the US to OPEC’s next meeting, saying the world’s biggest crude producer should be in on talks to stabilize global crude prices.
Researchers say Brent will trade at $55-$65 for next five years, predict US recession
Brent crude will trade between $55 and $65 a barrel for most of 2017-21, the Economist Intelligence Unit (EIU) said yesterday.
Rosneft boss vows to obey Kremlin’s oil output commands, report says
Rosneft’s boss said today the firm would obey the Kremlin if Russia’s leaders agree to freeze oil production, a news report said.