OPEC Company News
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OPEC Sends Strongest Signal Cuts Will Be Extended to End-2018
Thursday, October 19, 2017 OPEC sent its strongest signal yet that output cuts will be extended until the end of 2018.
World's Biggest Oil Traders See Wildly Diverging Crude Price
Thursday, October 19, 2017 The world's biggest oil traders say crude could rise above $60 a barrel in a year as demand grows and OPEC keeps cutting.
OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex
Monday, October 16, 2017 Being sophisticated in the age of OPEC output curbs can prove a disadvantage, as the operator of the world's biggest oil-refining complex is discovering.
Russell: China Crude Oil Storage Splurge Is OPEC's Best Friend
Monday, October 16, 2017 China's crude oil imports surged to the second-highest on record in September, but this isn't a sign of supercharged demand in the world's second-biggest economy.
OPEC Is Said to See Oil Inventory Glut Finally Gone in One Year
Thursday, October 12, 2017 OPEC expects its efforts to clear the surplus in oil inventories to finally succeed by the end of the third quarter of next year, say people familiar with the group's internal forecasts.
OPEC Again Raises Demand Forecast For Its Oil, Points To 2018 Deficit
Wednesday, October 11, 2017 OPEC forecast higher demand for its oil in 2018 and said its production-cutting deal with rival producers was getting rid of a glut.
Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan
Friday, October 06, 2017 The new terms will allow producers to be paid in oil and enable them to export or sell the barrels to local refineries, said Carlos Perez at a conference at Rice University in Houston on Friday.
Putin Says Oil Pact With OPEC May Be Extended to End of 2018
Wednesday, October 04, 2017 President Vladimir Putin said Russia is open to extending a deal with OPEC to curb oil supplies to the end of 2018.
OPEC Oil Output Climbed in September as Libya, Nigeria Recover
Monday, October 02, 2017 OPEC nations pumped slightly more crude in September as Libya's biggest oil field returned to production.
Libya Oil Output Drops to 5-Month Low on Biggest Field Halt
Monday, October 02, 2017 Libya's oil production slumps to a five-month low.
Libya Oil Output Gains as Country Faces Calls to Join OPEC Cuts
Wednesday, September 27, 2017 Libya's oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day.
Top BP Executive Warns OPEC Needs to Prolong Oil Output Curbs
Monday, September 25, 2017 OPEC and its allies need to extend their crude production cuts beyond March 2018 to rebalance the global oil market, a top executive at BP's trading arm said.
OPEC Says Winning Battle To Curb Oil Glut
Friday, September 22, 2017 Output cuts by OPEC and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a Friday meeting.
Kemp: Mission Accomplished? OPEC Banishes Contango
Thursday, September 21, 2017 The shift away from contango to backwardation has accelerated notably since July.
OPEC Has Success at Last, But Oil Revival May Be Short-Lived
Wednesday, September 20, 2017 When OPEC and its allies gather this week, they'll have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived.
Iraq Says OPEC Mulls Deeper, Longer Oil Cuts to End-2018
Tuesday, September 19, 2017 Iraq and other oil producers taking part in global output cuts think they should reduce supply by an additional 1% to help re-balance the market, according to Jabbar al-Luaibi.
Kuwait Says OPEC May Decide on Extending Cuts in March 2018
Wednesday, September 13, 2017 OPEC and allied oil producers will keep reviewing options for their agreement to cut output, and a final decision on extending the deal beyond March could be postponed until the first quarter of 2018.
Qatar Says It's Fulfilling Oil and Gas Deals Despite Gulf Crisis
Wednesday, September 13, 2017 Qatar says it is fulfilling all of its contracted shipments of oil and gas despite a regional political crisis that led to the severing of ties with some of its neighbors.
OPEC Sees Higher Oil Demand, Signs Of Tighter Market
Tuesday, September 12, 2017 OPEC forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market.
Saudi Arabia Says It's Open to Another OPEC Cuts Extension
Monday, September 11, 2017 Saudi Arabian Energy Minister Khalid Al-Falih agreed with his Venezuelan, Kazakh and UAE counterparts to keep all options open in their push to re-balance world oil markets.
Big Oil Says It Still Loves North Sea Despite Asset Sales
Wednesday, September 06, 2017 Europe's biggest energy companies have a message for the aging UK North Sea oil industry: We may be selling assets, but that doesn't mean we're heading for the exit.
OPEC Oil Output Slips From 2017 High On Renewed Libyan Outages
Thursday, August 31, 2017 OPEC oil output has fallen this month by 170,000 bpd from a 2017 high, a Reuters survey finds.
Russell: Harvey May Succeed Where OPEC Has Struggled by Boosting Oil Prices
Monday, August 28, 2017 The fallout from Harvey won't just be limited to the United States and close neighbors.
Gadfly: Halliburton And Microsoft Do Not Compute For OPEC
Tuesday, August 22, 2017 Technology is rewriting the energy industry's dictionary.
OPEC's Long-Sought Success Spoiled by 2018 Oil Supply Worry
Tuesday, August 15, 2017 Oil investors are already worrying over the potential fallout when OPEC's deal to cut output expires, marring emerging signs that the accord to shrink a glut is finally succeeding.
IEA Cuts Estimates for Crude Needed From OPEC in 2017, 2018
Friday, August 11, 2017 The International Energy Agency cut estimates for the amount of crude needed from OPEC this year and in 2018.
OPEC Sees Higher 2018 Oil Demand, Points To Easing Glut
Thursday, August 10, 2017 OPEC forecast higher demand for its crude in 2018 due to rising global consumption.
OPEC Expects Laggards To Comply More Fully With Oil Cut Pact
Tuesday, August 08, 2017 OPEC expects greater adherence to its pact with non-OPEC producers to cut oil output after two days of meetings in Abu Dhabi aimed at boosting compliance with the accord.
OPEC Supply-Cut Compliance Runs Up Against Ire Over Country Targets
Thursday, August 03, 2017 OPEC has delivered record-high adherence to its oil output-cutting pact so far in 2017.
OPEC Oil Output Jumps To 2017 High On Further Libya Recovery
Monday, July 31, 2017 OPEC oil output has risen this month by 90,000 barrels per day to a 2017 high, a Reuters survey finds.
OPEC Moves To Cap Nigerian Oil Output, Boost Compliance
Monday, July 24, 2017 OPEC moved to cap Nigerian oil output and called on several members to boost compliance with production cuts.
OPEC, Russia to Stand Pat on Oil Deal Even as Glut Persists
Friday, July 21, 2017 OPEC and Russia's plan to clear the global oil glut hasn't worked as they hoped, but there's little expectation the world's largest producers will act more aggressively when they meet this weekend.
Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate
Thursday, July 20, 2017 The continual disruption blighting the impoverished delta region threatens plans to exceed 2 million barrels a day, according to Wood Mackenzie.
IEA Less Confident on Oil Rebalancing as OPEC Supply Rises
Thursday, July 13, 2017 The rebalancing of global oil markets has become less certain, with OPEC production rising and little evidence that bloated stockpiles are shrinking as expected, the IEA says.
OPEC's First 2018 Outlook Shows It's Pumping Too Much Oil
Wednesday, July 12, 2017 OPEC's first assessment of world oil markets in 2018 showed that, despite cutting output, the group is still pumping too much crude.
Oil Fields Pumping a Third of Supply Die Fastest in 24 Years
Monday, July 10, 2017 The tussle for supremacy between OPEC and U.S. shale drillers is killing off older oil fields at the fastest pace in almost a quarter century. That could hurt the industry once the current glut has faded.
OpEd: OPEC Production Cuts Fail, Markets Pay for Underestimating US Shale
Tuesday, June 27, 2017 The next round of cuts to the oil and gas industry may slash the North American rig count.
Traders Test OPEC 'Whatever It Takes' Resolve To Defend Oil Price
Thursday, June 22, 2017 When OPEC leader Saudi Arabia pledged in May to do 'whatever it takes' to defend world oil prices, it didn't expect the market to be testing its resolve just one month later.
Commodity Weekly: OPEC Cuts not Cutting It
Friday, June 16, 2017 The fall in oil prices over the past week is indicative of the consensus view that the coordinated output cut among OPEC and non-OPEC is inadequate.
Oil Guru Who Foresaw Crash Says OPEC Should Have Cut Deeper
Thursday, June 15, 2017 The oil guru who predicted the market rout in 2014 said OPEC and its allies should have gone much further when they extended their supply deal last month.
The Lonely Drifting Oil Tanker That Signals OPEC's Struggle
Tuesday, June 13, 2017 Across the world, the plight of the Saiq, now idling off the coast of Mauritania, reflects a broader trend in the physical oil market.
Op-Ed: Crude Export Habits Could Factor Into OPEC's Oil Balancing Act
Friday, May 26, 2017 With the US entrance into the crude oil exporting market and little change in global loading, production may not be the only weight on commodity prices and crude oversupply.
OPEC Oil Cut Extension Renews Asia's Crude Supply Worries
Friday, May 26, 2017 In physical markets, where tankers can take weeks or months to deliver crude oil, refiners want to know if they will be forced to search for new suppliers.
Come Together: All Eyes On OPEC's Epic Pursuit of Oil Price Stability
Wednesday, May 24, 2017 Every drop of oil counts in the weight of crude inventory on the global price scale, as OPEC and non-OPEC nations congregate in Vienna on May 25 to consider extending production cuts.
Op-Ed: With Saudi Aramco IPO Looming, Of Course OPEC Will Extend Oil Quotas
Thursday, May 18, 2017 Markets yawn as Russia, Saudi Arabia envoys tease extending crude oil production quotas into 2018.
In Fight Against US Shale Oil, OPEC Risks Lower for Longer
Friday, May 12, 2017 In their battle to revive the global oil market, OPEC and its allies are digging in for a long war of attrition against shale.
Oil Producers in Consensus to Extend Cuts, OPEC Members Say
Thursday, May 11, 2017 OPEC and other oil producers taking part in output cuts have reached a consensus to extend the limits until the end of the year, oil ministers for two of the group's members said.
Libya Adds to OPEC's Burden as Output at Highest Since 2014
Tuesday, May 09, 2017 Libya is pumping the most oil in more than two years as the OPEC member restores output amid progress in mending the nation’s political divisions.
OPEC Runs Out of Options as Bid to Boost Oil Price Fizzles
Friday, May 05, 2017 OPEC's plan to boost oil prices by cutting production has fizzled, yet it has little choice but to stick with it.
OPEC May Need to Extend Production Cuts to End of Next Year
Monday, May 01, 2017 OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said.