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News Topics: OPEC

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Gulf OPEC Delegate: Global Demand To Help Oil Prices Despite US Glut
Tuesday, March 24, 2015 Stronger-than-expected global oil demand should help support crude prices at around $55-$60 a barrel in the next two months, a senior Gulf OPEC delegate says.

Saudi Minister: OPEC Won't Bear Burden of Propping Up Oil Price
Monday, March 23, 2015 OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister says, signalling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June.

US Drillers Scrambling To Thwart OPEC Threat
Monday, March 23, 2015 Companies are leaning on new techniques and technology to get more oil out of every well they drill, and furiously cutting costs in an effort to keep US oil competitive with much lower-costing oil.

Kuwait: OPEC Has No Choice But To Keep Output Unchanged
Thursday, March 19, 2015 OPEC has no choice but to keep its market share and shun oil output cuts, Kuwait's oil minister says, reiterating the view from the emirate that the group will hold its course when it meets next in June.

Minister: Low Prices Will Hamper Nigeria's Bid To Boost Output
Tuesday, March 17, 2015 Oil Minister Diezani Alison-Madueke says consistently low oil prices will hamper Nigeria's bid to boost output to 4 million bpd.

OPEC Comes Cleaner on How Much Oil its Members Pump
Monday, March 16, 2015 OPEC members' own versions of their oil output were for years greeted with such scepticism that the group resorted to publishing what others thought they were producing.

Kuwait Expects OPEC to Continue Policy beyond June
Tuesday, March 10, 2015 OPEC is likely to maintain its production policy at a meeting in June, according to Kuwaiti official.

Platts: OPEC Output Down 20,000 Bpd in February
Monday, March 09, 2015 Oil production from OPEC remained below the group's 30 million bpd ceiling for a second consecutive month in February as lower volumes from Libya and Nigeria more than offset increases.

FT: Nigeria Will Call Emergency OPEC Meeting If Oil Rout Continues
Monday, February 23, 2015 Nigeria will call an extraordinary meeting of OPEC if crude oil prices slip any further, the country's oil minister says in an interview with the Financial Times.

Rosneft's Sechin Slams OPEC, Warns on Possible Oil Shortage
Tuesday, February 10, 2015 The head of Russia's leading oil producer, Igor Sechin, warns lower oil output may leads to a supply shortage as early as the fourth quarter of this year.

Genel's Hayward Warns Over Iraq's Oil Growth Amid Low Prices
Tuesday, February 10, 2015 The head of Iraqi Kurdistan-focused oil producer Genel says Iraq's crude output will grow far slower than many expect as the drop in oil prices reduces investment in the country.

Kemp: Oil Price War Inflicts Collateral Damage in Latin America
Monday, February 09, 2015 Latin America's oil producers have become caught in the crossfire between OPEC and the North American shale drillers.

OPEC Says Oil's Drop Hitting Other Producers Faster Than Thought
Monday, February 09, 2015 OPEC forecasts that demand for its oil this year would be much higher than previously thought, as its strategy of letting prices fall to hurt other producers begins to take effect.

Oil Prices Up More As BP Joins Sector Spending Cuts
Tuesday, February 03, 2015 Oil rises as BP says it will reduce capital spending, adding to cuts in investment in the sector.

OPEC Delegates Cautious Over Oil-Price Rebound
Monday, February 02, 2015 Oil prices may stay depressed until summer due to weak seasonal demand even as Saudi Arabia's strategy of curbing the output growth of rival producers might have started achieving tangible results, OPEC says.