OPEC Delivering On Agreed Oil Output Cuts
The OPEC oil cartel has implemented more than 90 percent of its agreed output cuts aimed at curbing a glut on world markets, Kuwait's oil minister said on Monday. OPEC and non-OPEC producers...
Tag: Chronology of world oil market events
Russia To Decide In April-May If Global Oil Deal Should Be Extended
File image, A view shows an oil derrick and other facilities at Vankorskoye oil field Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC...
Oil Overhang Points To Need For Extended OPEC Output Cuts
An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short...
Oil Edges Up On Threat of U.S. Issuing New Iran Sanctions
Oil prices edged up on Friday on news that U. S. President Donald Trump could be set to impose new sanctions on multiple Iranian entities, firing geopolitical tensions between the two nations....
Oil Prices Fall After Sharp Rise In U.S. Stockpiles
Oil prices fell on Thursday after official data showed U. S. crude and gasoline stockpiles rose sharply, although signs that OPEC and other producers are holding the line on output cuts helped...
Oil Edges Further Above $55 On Russia, OPEC Cuts
Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on promised supply reductions, although a report showing a large rise in U. S. crude...
Oil Shipments Show That OPEC Is Sticking To Its Cuts
Oil supplies from OPEC are plunging this month as the group implements production cuts aimed at erasing a global surplus, according to tanker-tracker Petro-Logistics SA. The Organization of Petroleum...
Equatorial Guinea Has Applied To Join OPEC
This would bring the oil producer group's membership to 14 countries Equatorial Guinea has now applied to join the Organization of the Petroleum Exporting Countries, an OPEC source familiar with the...
Oil Prices Rise
Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between OPEC and non-OPEC members to cut production, which kicked in on Sunday, will be effective in draining a global...
Oil Jumps 1.7 Percent, Adds To Year’s Gains Ahead of OPEC Cuts
Oil jumped 1.7 percent Tuesday, continuing its year-end rally with support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes...
Oil Prices Soar
Oil prices today Monday 12 December shot to their highest levels since mid-2015 after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in...
OPEC, Non-OPEC Agree First Global Oil Pact Since 2001
OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many...
OPEC Deal Sends Oil Spiking 14% In 3 Days
Don't blink. You might miss another jump in oil prices. Crude has spiked 14% in just the past three days, ending Friday at a 17-month high of $51.68 a barrel. OPEC breathed new life into crude this...
Oil Price Soars As Opec Agrees Output Cut
Saudi Arabia agreed to cut output by about 500,000 barrels per day - a total reduction of 4.5%. The oil cartel Opec has agreed its first supply cut in eight years in order to boost the price of oil....
Oil Extends Slide Below $46 On Skepticism Over Opec Output Deal
Oil extended declines to slip below US$46 a barrel amid skepticism over OPEC’s ability to reach an agreement to cut output as representatives meet on Monday amid last-minute negotiations to reach a...
Fuel Prices To Fall By 1.5 and 3%
Fuel prices are expected to fall by between 1.5 and 3% in the second-pricing window for November 2016, the Institute for Energy Security (IES) has projected. “As a result of marginal loss of the...
Energy Helps Canadian Stocks Open Week Ahead
Canada's main stock market in Toronto started the week positively as rising crude oil and natural gas prices contributed. The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite...
Fuel Prices To Remain ‘fairly Stable’ In First November Pricing Window
The Institute Energy Studies (IES) has published its bi-weekly forecast of the petroleum market, projecting that petrol and diesel prices will remain ‘fairly stable’ in the first November pricing...
Oil Rallies As Opec Agrees Output Cut
The oil producers cartel Opec has agreed a preliminary deal to cut production for the first time in eight years, sending crude prices surging. The major oil exporting nations struck the deal at talks...
Algeria Calls For OPEC Supply Side Action
Algiers (AFP) - Algerian Energy Minister Noureddine Boutarfa on Wednesday pressed demands for action on an oil supply glut and higher investment to stabilise the market as an informal OPEC meeting in...