Tag: OPEC

March 2, 2020

OPEC could deliver a larger-than-expected production cut at its meeting later this week, according to MUFG Bank. Oil prices have been under pressure since the outbreak of the coronavirus in January dampened the demand outlook for the year. Following the […]

February 27, 2020

Even if OPEC cuts production by 600,000 barrels a day, oil prices could remain weak until April, according to a senior analyst at S&P Global Platts. That’s because inventories are rising amid lower oil demand due to the coronavirus outbreak, […]

February 3, 2020

OPEC and its allies could cut production by more than a million barrels a day at a rescheduled meeting this month, as policymakers work to arrest a double-digit collapse in the price of oil. “I think it is a ‘go […]

January 29, 2020

OPEC’s battle to support oil prices as China’s coronavirus spreads internationally shows the producer group is struggling to wield the same influence over global crude markets, energy analysts have told CNBC. It comes amid speculation that OPEC and non-OPEC producers, […]

December 30, 2019

Growth in U.S. oil production may have started to slow, but the Organization of the Petroleum Exporting Countries (OPEC) is sorely mistaken if it thinks it will soon be out of the supply-cut game. While U.S. shale has been overwhelmingly […]

December 6, 2019

Energy ministers from some of the world’s largest oil producers have agreed to deepen recurring production cuts by an additional 500,000 barrels per day (b/d) through to March 2020. OPEC and non-OPEC allies, often referred to as OPEC+, decided to […]

December 5, 2019

OPEC kingpin Saudi Arabia has denied pursuing a deeper round of production cuts, one senior oil official told CNBC on Thursday, despite intense speculation the global oil-producing group was on the cusp of imposing further output curbs. The oil-rich kingdom […]

December 4, 2019

As OPEC and its allies meet this week in Vienna, some pundits anticipate they will seek to reassure nervous markets with additional production cuts. Expectations that next year will see a growing oil surplus if nothing is done have already […]

October 23, 2019

International benchmark Brent crude is likely to continue trading at around $60 a barrel next year, Goldman Sachs said on Wednesday, in the absence of any “meaningful” energy market shocks. The U.S. investment bank said Brent crude futures had been […]

October 10, 2019

OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas. The move is likely to add to […]

September 12, 2019

Saudi Arabia’s newly appointed energy minister said Thursday that OPEC and non-OPEC partners would consider deeper production cuts at its next full meeting. Speaking shortly after the conclusion of the Joint Ministerial Monitoring Committee (JMMC) in Abu Dhabi, Prince Abdulaziz […]

September 10, 2019

A rise in U.S. shale oil output and lackluster global demand will create volatility for oil markets, according to Dan Yergin, IHS Markit’s vice chairman. “The pipeline bottlenecks are in the process of being resolved, so a lot more oil […]

September 9, 2019

ABU DHABI — Major changes in Saudi oil policy are unlikely as a new energy minister moves in to take up the decision-making reins for the world’s largest exporter of oil. Saudi Arabia replaced its former energy minister and the […]

September 5, 2019

OPEC is under intensifying pressure to show it still has the power to reverse a slide in oil prices, according to RBC Capital Market’s Helima Croft. The Middle East-dominated producer group has struggled to shore up crude futures this year, […]

July 12, 2019

The International Energy Agency (IEA) expects the return of an oversupplied oil market next year, despite the recent rollover of an OPEC-led pact designed to restrain any glut. The energy agency said the “main message” of its closely-watched report was […]

July 2, 2019

The success, or failure, of trade talks between the U.S. and China will be a decisive factor in the oil price outlook this year, despite OPEC’s decision to extend production cuts, oil market expert Amrita Sen told CNBC on Tuesday. […]

July 1, 2019

OPEC and its allies looked all but certain to extend oil supply cuts by nine months, after several members of the Middle East-dominated producer group endorsed a policy designed to support oil prices amid a weakening global economy. Saudi Arabia’s […]

June 17, 2019

I have written about this topic before, but it deserves a review at this crucial point in time where the oil markets are concerned. Just half a year after they agreed to implement significant new cutbacks in their crude oil […]

June 13, 2019

Oil output from OPEC fell in May, hitting a five-year low as the group warned that U.S.-China trade tensions could lead to slower economic growth and weak fuel demand. Production from the 14-nation producer club fell by 236,000 barrels per […]

May 24, 2019

I’ve long been a believer that there’s always opportunity in the energy field, if you know where to look for it. With his recent commitment of $10 BN to help Occidental acquire Anadarko, Warren Buffett appears to be of the […]