Keyword: Opec

  • OPEC: Saudis make up for drop in Iran's oil output
    OPEC: Saudis make up for drop in Iran's oil output
    12/12

    The Organization of the Petroleum Exporting Countries produced 32.97 million barrels of crude per day on average last month or just 11,000 less than in October. Its monthly report, published on Wednesday, showed Saudi Arabia increased vo...

  • Novak: Cuts to be gradual, will take several months
    Novak: Cuts to be gradual, will take several months
    12/7

    Russian Energy Minister Alexander Novak said on Friday his country would cut some 228,000 barrels per day under the new output cuts agreed with the Organization of Petroleum Exporting Countries (OPEC) and allied producers earlier in Vien...

  • Iraqi oil minister breaks down output cut deal
    Iraqi oil minister breaks down output cut deal
    12/7

    Iraqi oil minister Thamir Ghadhban provided further details on individual oil output cuts agreed in the meeting between OPEC and non-OPEC countries on Friday.

    Ghadhban stated that the cartel and the group of oil exporting countri...

  • OPEC+ confirms output cut deal of 1.2 million bpd
    OPEC+ confirms output cut deal of 1.2 million bpd
    12/7

    Major oil producers reached a preliminary deal to cut oil production by 1.2 million barrels per day following a two-day meeting in Vienna, the Organization of Petroleum Exporting Countries (OPEC) announced on Friday.

    According to...

  • Oil jumps over 4% as OPEC+ reaches deal
    Oil jumps over 4% as OPEC+ reaches deal
    12/7

    Crude prices traded sharply higher on Friday as investors digested the news that the OPEC+ has reached a deal on the global oil output cuts earlier today. The cartel and non-OPEC ...

  • OPEC+ agrees to 1.2M bpd output cut
    OPEC+ agrees to 1.2M bpd output cut
    12/7

    Organization of Petroleum Exporting Countries (OPEC) has agreed on Friday with non-OPEC producers led by Russia to curb oil production by 1.2 million barrels per day, in six months starting from January, with the output in October as a r...

  • Iran refuses to endorse OPEC output cut plan
    Iran refuses to endorse OPEC output cut plan
    12/7

    Iran's Petroleum Ministry stated on Friday it will "not endorse" the Organization of Petroleum Exporting Countries' (OPEC) plan to reduce production in an effort to stabilize the market.

    "Informed sources i...

  • Russia willing to cut output by 150K bpd at most - report
    Russia willing to cut output by 150K bpd at most - report
    12/7

    Russia will only agree to an OPEC+ output cut deal which allows it to reduce production by 150,000 barrels per day at most, RIA Novosti reported on Friday citing sources close to the matter.

    Organization of the Petroleum Exportin...

  • OPEC: Non-OPEC members to cut output by 0.5 mbp - report
    OPEC: Non-OPEC members to cut output by 0.5 mbp - report
    12/6

    Organization of the Petroleum Exporting Countries (OPEC) will suggest to other global oil producers led by Russia outside the cartel to cap its production by 0.5 million barrels per day, TASS reported on Thursday citing people familiar w...

  • Al Falih: Not sure if Russia will agree to output cuts
    Al Falih: Not sure if Russia will agree to output cuts
    12/6

    Saudi Energy Minister Khalid al-Falih stated on Thursday that he is not sure that Russia will agree to a production cap deal, media reported. The official noted that he can't say with confidence that Moscow will be on board with OPEC...

  • OPEC agrees to cap oil production - report
    OPEC agrees to cap oil production - report
    12/6

    Organization of the Petroleum Exporting Countries (OPEC) agreed on Thursday to cap oil production, according to media reports. The organization reached a deal but reportedly doesn't want to release any details until one of the world&...

  • Iran's Zanganeh blasts US for trying to pressure OPEC
    Iran's Zanganeh blasts US for trying to pressure OPEC
    12/6

    Iranian Petroleum Minister Bijan Zanganeh (pictured) said during the Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna on Thursday that it is up to the countries that caused a global crude oversupply to implement...

  • Al-Falih: Trump's 'input' to be taken into consideration
    Al-Falih: Trump's 'input' to be taken into consideration
    12/6

    Saudi Minister of Energy Khalid al-Falih told reporters on Thursday "many members" of the Organization of the Petroleum Exporting Countries are already showing a decline in production and asserted the intended voluntary cuts wo...

  • Nigeria oil min: Trump 'put us to work'
    Nigeria oil min: Trump 'put us to work'
    12/6

    Nigerian Oil Minister Emmanuel Ibe Kachikwu (pictured) said on Thursday that United States President Donald Trump put major oil producers "to work" by demanding from them not to reduce output and underpin prices.

    He sta...

  • Oil trades lower in runup to OPEC summit
    Oil trades lower in runup to OPEC summit
    12/6

    The detainment of finance chief of Huawei Sabrina Meng Wangzhou in Canada renewed uncertainty about China's relations with the United States and prices of crude slipped on Thursday at ICE Futures Europe. The executive from China'...

  • Tehran seeks exclusion from OPEC production cut
    Tehran seeks exclusion from OPEC production cut
    12/6

    Iran will seek to be excluded from the Organization of the Petroleum Exporting Countries' (OPEC) decision to cut down on oil production starting next year, Iranian Oil Minister Bijan Zanganeh (pictured) said ahead of today's meet...

  • OPEC+ ignores US but talks aren't done –​ report
    OPEC+ ignores US but talks aren't done –​ report
    12/5

    The coalition of the Organization of the Petroleum Exporting Countries and the bloc of producers led by Russia is determined to reduce volumes and support prices in spite of protests by United States President Donald Trump, according to ...

  • Oil pares gains as planned output cut isn't substantial
    Oil pares gains as planned output cut isn't substantial
    12/5

    The lack of crucial information after a tentative deal between the world's major suppliers of oil on Wednesday prompted a selling spree. Prices at ICE Futures Europe surrendered gains built on speculation the Organization of the Petr...

  • OPEC+ agrees framework for output cut
    OPEC+ agrees framework for output cut
    12/5

    A tentative arrangement was reached in Vienna for a reduction in the supply of oil, according to Mohammed bin Hamad al-Rumhi, Oman's minister of oil and gas. He unveiled the news about the consensus on Wednesday after a meeting of th...

  • Trump: World wants lower oil prices
    Trump: World wants lower oil prices
    12/5

    United States President Donald Trump reiterated on Wednesday his dissatisfaction with high oil prices, urging the Organization of the Petroleum Exporting Countries (OPEC) to "keep oil flows as is."

    "Hopefully OPEC...