News Topics: OPEC

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OPEC Sec-Gen Sees Oil Market Improving, Low Price Will Not Persist
Tuesday, October 06, 2015 OPEC sees the oil market improving because of higher demand for the group's crude and a drop in supply growth from non-members, its secretary-general says.

Survey: OPEC Oil Output Rises In September, Led By Iraq
Wednesday, September 30, 2015 OPEC oil output has risen in September from the month before, a Reuters survey found.

Kuwait: No Need for OPEC, Non-OPEC Producers Summit
Monday, September 28, 2015 A summit of OPEC and non-OPEC, as suggested by Venezuela, would be pointless as independent producers are not committed to cutting output, according to Kuwait's oil minister.

OPEC Focuses On Rival Mega Projects, Lives With Shale Swing Output
Wednesday, September 23, 2015 OPEC members are beginning to believe they are winning against upstart US shale producers in a short-term market share contest.

Saudi Arabia's Crude Stockpiles at Record High as Exports Fall
Monday, September 21, 2015 Saudi Arabia's crude stockpiles rises to a record in July after exports by the world’s biggest oil shipper declined for the third time in four months.

Russia for 1st Time Acknowledges Low Oil Prices May Hit Output
Friday, September 18, 2015 Russia's oil production may drop if the price of crude oil falls below $40 per barrel, says Deputy Energy Minister Alexei Teksler.

OPEC Sees Oil Prices Returning To $80/Barrel By 2020
Thursday, September 17, 2015 OPEC forecasts oil prices will grow by no more than $5 per barrel a year to reach $80 by 2020.

Kuwait Says Oil Market Will Balance Itself, Must Be Patient
Thursday, September 17, 2015 Kuwait's OPEC governor says the oil market would balance itself but "we need to be patient".

Venezuela's OPEC Proposal Focuses on Oil Price, Not Volumes
Wednesday, September 16, 2015 A summit between OPEC and non-OPEC oil producers that Venezuela is proposing should focus on supporting prices rather than limiting volume, the country's oil minister says.

OPEC Says The World Will Want More Of Its Oil Next Year
Monday, September 14, 2015 OPEC predicted higher demand for its crude oil next year, sticking to its view that a strategy of letting prices fall will curb supply from the US and other rival producers.

OPEC, Non-OPEC Countries Study Venezuela's Oil Summit Proposal
Thursday, September 10, 2015 OPEC and non-OPEC countries are studying a Venezuelan proposal for a heads-of-state summit to address low oil prices, according to the energy minister of Qatar.

Saudi Sees No Need for Oil Summit
Thursday, September 10, 2015 Saudi Arabia sees no need to hold a summit of producing countries' heads of state if such discussions would fail to produce concrete action towards defending oil prices.

Golden Age of OPEC Has Passed
Monday, September 07, 2015 The Golden Age of OPEC countries to keep oil markets balanced passed when the group decided not to cut production in November last year to end a price rout, says the chief executive of Rosneft.

Gulf Oil Ministers to Meet on Thursday amid Price Slide
Monday, September 07, 2015 Gulf oil ministers are due to meet this week in Qatar in the first gathering by the heavyweight crude producers since the latest slide in oil prices.

Iran Sees Shale Output Recovering as OPEC Longs for $80 Oil
Wednesday, September 02, 2015 Most OPEC members would like to see crude prices at $70 to $80 a barrel, Oil Minister Bijan Namdar Zanganeh said in an interview.

Russia Says Oil Output Could Decline if Prices Stay Low
Tuesday, September 01, 2015 Russia will not deliberately cut oil production to prop up prices but its output may decline if prices remain low, according to Deputy Prime Minister Arkady Dvorkovich.

OPEC May Recognize 'Lower For Longer' Pushes Their Prices, Too
Tuesday, September 01, 2015 Refusing to meet over-supply with a cut in their market share last year, Saudi Arabia fueled low oil prices. Now, the kingdom and its OPEC members are saying they want a fair playing field.

For OPEC, This Year's Painful Oil Slump Will Bring Gains in 2016
Friday, August 28, 2015 While OPEC's fight to snatch market share from rival oil producers might look like a costly failure as prices languish below $50 a barrel, an entirely different picture could emerge next year.

Venezuelan President Says Oil Basket Set to Fall to $30 or Less
Wednesday, August 26, 2015 President Nicolas Maduro says Venezuela's petroleum export basket is poised to fall to $30 per barrel or less, adding he was seeking to a deal with OPEC and Russia to stabilize prices.

Without Saudi Support, Talk Of OPEC Emergency Meeting Is Just Noise
Tuesday, August 25, 2015 Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.

Iran to Raise Oil Output 'at Any Cost' to Defend Market Share
Monday, August 24, 2015 Iran plans to raise oil production "at any cost" to defend the country’s market share and joins calls for an emergency OPEC meeting to help shore up crude prices.

Algeria Calls for Non-OPEC Output Cut to Stop Oil Price Fall
Tuesday, August 18, 2015 OPEC can do little to halt the oil price decline on its own and needs producers from outside the group to help in reducing global supplies, Algeria's Energy Minister says.

OPEC May Boost Oil Output to Record With Iran Back Amid Glut
Monday, August 17, 2015 OPEC could potentially boost crude oil production to 33 million barrels a day, the most ever, after international sanctions are removed against Iran.

Venezuela Says Pushing for OPEC, Russia Action to Stem Oil Fall
Wednesday, August 12, 2015 Cash-strapped Venezuela is pushing for an emergency OPEC meeting and joint coordination with Russia to stem a tumble in oil prices, President Nicolas Maduro says.

OPEC Says Cheap Oil Taking Longer To Subdue Rival Suppliers
Tuesday, August 11, 2015 OPEC raises its forecast of oil supplies from non-member countries in 2015, a sign that crude's price collapse is taking longer than expected to hit US shale drillers and other competing sources.


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