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Home / Posts tagged OPEC

OPEC

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OPEC squeezes oil output to 4-year low, Russia compliance low

PARIS: OPEC production fell to a four-year low in January as the cartel applied a new pact to boost global oil prices, the International Energy Agency said …

February 13, 2019 | Business
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OPEC oil production falls as S.Arabia slashes output

PARIS: Global oil cartel OPEC said Tuesday it sharply reduced crude oil production last month, after heavyweight Saudia Arabia slashed output and exports fell …

February 12, 2019 | Business
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Oil prices hit 2019 highs as sanctions against Venezuela, OPEC cuts bite

SINGAPORE: Oil prices rose to their highest so far this year on Monday as OPEC-led supply cuts and U.S. sanctions against Venezuela’s petroleum industry …

February 4, 2019 | Business, Commodities
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Oil prices surge as OPEC agrees joint 1.2 mn bpd cut with partners

VIENNA: OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls …

December 7, 2018 | Business
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US ‘not in a position to tell (OPEC) what to do’: Saudi Arabia

  VIENNA:The United States should not try to dictate policy to OPEC,  Saudi Arabia’s oil minister said on Thursday. “We don’t need …

December 6, 2018 | Business, World
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Oil prices surge more than 5%

SINGAPORE: Oil prices soared more than five percent on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising …

December 3, 2018 | Business, Commodities
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Oil firms on supply cut talk; still set for sixth weekly loss

LONDON: Oil rose on Friday on hopes that supply cuts will be agreed at OPEC’s meeting on Dec. 6, but failed to recoup recent losses on oversupply concerns …

November 16, 2018 | Business, Commodities
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Oil falls after Trump urges OPEC not to cut supply

LONDON: Oil prices fell more than 1 percent on Tuesday, with benchmark Brent crude slipping below $70 per barrel and U.S. crude under $60, after U.S. President …

November 13, 2018 | Business, Commodities
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Saudi Arabia to ship less oil in December as it floats cut talks possibility

ABU DHABI: Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December, its energy minister said on Sunday, as the OPEC …

November 11, 2018 | World
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OPEC, allies may need to change course as oil inventories rise: panel

LONDON: OPEC signaled on Thursday it may have to return to oil production cuts as global inventories rise, in a statement that may further sour relations with …

October 25, 2018 | Business, Commodities

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