OPEC deal a bad surprise in Asia as Goldman sees buyers squeezed
Refiners in the world’s biggest oil market, already struggling with a profit-sucking glut of refined fuel, face another hindrance if OPEC members cut supplies of crude.
OPEC
What we know so far: OPEC’s surprise output cut
OPEC member countries have met in Algiers this week and in a surprise move agreed to a production cut.
FTSE 100 index tops 6,900 mark after OPEC deal
Oil majors led the charge as the London market burst back through the 6,900 mark following investor cheer over an output-limiting deal struck by the Opec oil cartel.
North Sea outlook unchanged until details of Opec deal firmed up, Prof Kemp says
North Sea investors will need more convincing Opec's output reduction deal is robust before loosening their purse strings, a prominent petro-economist said today.
OPEC outcome surprising, industry must focus on “long-term” warn analysts
The oil and gas industry has been urged to focus on long-term change after OPEC members agreed to an output cut at its latest meeting in Algiers.
Opec output deal boosts FTSE 100
The UK’s top-flight index burst back through the 6,900 mark as investors cheered an output-limiting deal struck by the Opec oil cartel.
Opec production cut made possible by Saudi economic woes
It took the kingdom’s new oil minister, Khalid Al-Falih, just six months to blink, ending the country’s two-year policy of pump-at-will.
Opec confounds analysts with agreement on oil output reduction
Oil held gains after the biggest advance since April as OPEC agreed to reduce production for the first time in eight years, surprising traders who had expected members to maintain output.
Oil and gas execs remain bullish on price increase
Business activity has increased in the third quarter of this year according to oil and gas executives.
Saudi ready to compromise with Iran over production
Saudi Arabia gave the strongest indication yet it’s ready to compromise with regional rival Iran, potentially paving the way for the first limit on oil production in two years, although a deal is unlikely until OPEC’s next meeting in November.
Opinion: Where will oil prices go after Algiers?
Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring.
Iran will refuse to play ball over oil output freeze
Iran is not willing to freeze its oil output at current levels and doesn’t intend to forge an agreement with other major crude producers at talks in Algiers this week, the nation’s oil minister said.
Tables turn on Saudi as Iran comes to fore in oil price battle
Suddenly the tables have been turned on Saudi Arabia.
Opinion: Has OPEC cried wolf too many times?
As the OPEC oil cartel prepares for its informal meeting in Algeria this week, media speculation and oil price fluctuations are rife in response to the possibility of an oil production freeze agreement between OPEC and non-OPEC countries. But these permutations beg one important question: haven’t we heard it all before?
Oil speculators abandon hope of OPEC reaching supply accord
Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this week in Algiers.
Oil steadies at $45 on back of Saudi output offer
Oil held near $45 a barrel as Saudi Arabia’s offer to cut output opened the door to a future OPEC deal, even though the kingdom doesn’t expect an agreement this week when members of the group meet.
Algeria says Saudi offered to cut oil output levels ahead of OPEC meeting
Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels, Algeria’s energy minister said as he prepared to host a meeting of OPEC producers later this week.
Russia to wait for OPEC agreement before joining oil output talks
Russia plans to join discussions on limiting oil production only after OPEC members reach an agreement between themselves, meaning talks aimed at stabilizing the market could extend beyond Algiers next week.
Oil slides from two-week high as Saudi, Iran said to meet again
Oil pared gains as rival OPEC members Saudi Arabia and Iran met in Vienna for a second day before the wider group gathers in Algiers to discuss action to stabilize the market.
Saudis said to meet with Iran for oil talks before Algiers
OPEC members Saudi Arabia and Iran, whose rivalry derailed an oil supply accord earlier this year, met in Vienna a week before the organization holds talks in Algeria.
Russian oil output surges as Opec talks loom
Russian oil output rose to a record ahead of talks on supply with Saudi Arabia and other members of the Organization of Petroleum Exporting Countries next week.
OPEC seen failing to clinch oil-output deal at Algiers talks
OPEC probably won’t clinch a deal to limit oil production in Algiers next week as members stay focused on either boosting output or defending their market share, according to a Bloomberg survey.
Oil advances near $45 as OPEC may hold formal meeting in Algiers
Oil climbed near $45 a barrel after Algeria said OPEC may turn its informal talks next week into a formal session and as weekly industry data showed U.S. crude inventories declined.
Oil climbs as OPEC may hold formal meeting next week in Algiers
Oil rose after Algeria said OPEC may turn its planned informal meeting in Algiers next week into a formal session.
OPEC ‘very close’ to agreement to stabilize market, Maduro says
OPEC members are close to reaching an agreement on how to stabilize the market, Venezuelan President Nicolas Maduro said after speaking to his counterparts from Iran and Ecuador.