OPEC

Recent Articles

Saudi Arabia Seen Losing Market Share to Iran, Iraq on Oil Cuts
Wednesday, April 26, 2017 Saudi Arabia, the world's biggest crude exporter, is losing market share to Iraq and Iran.
OPEC Ministers to Meet Russia Amid Push to Extend Cuts
Wednesday, April 26, 2017 The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts.
OPEC's War On Oil Overhang Starts To Bear Fruit
Tuesday, April 11, 2017 OPEC appears to be slowly winning the battle against a global overhang of crude and oil products as inventories in onshore and floating storage decline.
BLOG: Decisions, Decisions - Will OPEC/NOPEC Extend Oil Cuts?
Thursday, March 23, 2017 As OPEC and non-OPEC members convene this weekend to weigh progress, member-state self-preservation likely to enable market intervention keeping crude oil cuts in place for another six months.
Saudi Says Oil-Supply Cuts May Be Extended If Necessary
Thursday, March 16, 2017 OPEC and its allies may prolong production cuts after they expire in June if the world's crude inventories remain excessive, Saudi Arabia's Energy Minister said.
OPEC Can't Count on American Drivers to Help Boost Oil Prices
Thursday, March 16, 2017 Rising US oil production isn't the only thing getting in the way of OPEC's efforts to drain a global glut. American drivers aren't helping either.
Saudis Tell OPEC They Eased Cuts to Pump 10 Million Barrels
Tuesday, March 14, 2017 Saudi Arabia told OPEC it raised output back above 10 million barrels a day in February, reversing about a third of the cuts it made the previous month.
Kuwait Becomes First OPEC Nation to Call for Longer Oil Cuts
Monday, March 13, 2017 Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group's first member to call for more time to balance the global oil market.
Russian Oil Major Says US Shale Growth Imperils OPEC Deal
Monday, March 13, 2017 A recovery in US oil output may deter OPEC and non-OPEC producers from extending production cuts beyond June and might lead to a new price war, Rosneft says.
OPEC, Non-OPEC Agreement Strives For Oil Price Stability
Tuesday, March 07, 2017 OPEC Secretary General Mohammad Sanusi Barkindo tells CERAWeek historic production cut agreement with non-OPEC countries develops new relationship between crude producing and consuming nations.
Saudis Still Bear Brunt of Oil Cuts as OPEC Output Drops
Thursday, March 02, 2017 Saudi Arabia continued to lead OPEC's efforts to cut production, helping the organization get closer to a goal set out in a historic accord last year.
US Crude Oil Production Boost On Collision Course With OPEC Cuts
Wednesday, March 01, 2017 Subdued production in 2017 may give way to crude production boost of 1 million barrels per day by 2018 as US exploration and production companies reveal plans to spend more cash.
All Participating Countries Committed to Oil Output Deal, Says OPEC Sec-Gen
Monday, February 27, 2017 OPEC-led oil production cuts have been well supported by all participating countries despite some teething troubles for non-OPEC members, said the cartel's secretary-general, Mohammed Barkindo.
Bizarre Oil Trades Pose Menace for OPEC in Its Prized Market
Friday, February 24, 2017 OPEC pumped at will the past two years to defend its turf against rivals. Its recent volte-face has left it contending with additional threats in the world’s biggest oil market.
Barkindo: OPEC's Pushing for Full Compliance With Oil Cuts
Tuesday, February 21, 2017 Implementation of an agreement between OPEC and other major producers to reduce output has been "very encouraging" and the agreement is on track to reduce the global oil surplus, said the group's top official.
Investor Honeymoon With OPEC Falters as Shale Drilling Booms
Monday, February 13, 2017 After unprecedented optimism that OPEC will manage to ease a global supply glut, money managers reduced their bets on rising WTI prices for the first time in a month.
OPEC Ministers Don't Rule Out Rolling Over Oil-Output Cut
Wednesday, February 08, 2017 OPEC and other major crude-producing nations may need to extend output cuts into the second half of the year to re-balance the market, oil ministers for Iran and Qatar say.
OPEC Convinces Investors That Its Oil Output Cuts Are Real
Monday, January 30, 2017 OPEC appears to have persuaded investors that it's making good on promised production cuts.
IEA: OPEC Output Cuts Under Security As Market Tightens
Thursday, January 19, 2017 World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised.
BLOG: Should the US Cut Oil Production in Line With OPEC, NOPEC?
Friday, January 13, 2017 OPEC's subtle message that the US should join its production cut pledge with other non-OPEC nations - in the interest of global market stability - is unlikely to get an affirmative response.