News Topics: OPEC

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OPEC Seen Unyielding in Oil Market-Share Battle with Shale
Friday, May 22, 2015 OPEC will stick with the strategy of favoring market share over prices when it meets next month because rival producers are already starting to buckle.

Oil Trader Andurand Sees US, OPEC Supply Capping Prices
Friday, May 15, 2015 Oil supply from both OPEC and U.S. shale drillers is set to expand later this year, preventing further gains in prices, according to hedge fund manager Pierre Andurand.

IEA: Oil Glut Worsens As OPEC Market-Share Battle Just Beginning
Wednesday, May 13, 2015 IEA warns of a global oil glut building due to Saudi Arabia pumping at near-record highs in an attempt to win a market-share battle against US shale production.

OPEC Oil Output Boost Keeps Supply Surplus Despite Higher Demand
Tuesday, May 12, 2015 OPEC says its oil output rose further in April, keeping an excess supply in the market despite stronger demand and signs the producer group's strategy of letting prices fall to hurt other producers is taking effect.

Indonesia's Energy Minister Seeks To Rejoin OPEC
Thursday, May 07, 2015 Indonesia's energy minister says he would seek President Joko Widodo's approval for the country to rejoin OPEC, seven years after leaving the oil exporters' group.

Gulf Delegate: OPEC Unlikely To Cut In June Without Non-OPEC As Oil Rebound
Wednesday, May 06, 2015 The jump in oil prices has been supported by stronger-than-expected demand growth and a slowdown in crude supply, a senior Gulf OPEC delegate says.

OPEC Says Speculation Played Large Role in Drop in Oil Prices
Monday, May 04, 2015 Oil supply and demand don't fully justify the 60% drop in prices between June and January as speculation also played a role, OPEC said.

US Shale Firms Revive Hedging as Oil Rebounds, May Vex OPEC
Friday, May 01, 2015 US oil producers are rushing to take advantage of the rebound in oil markets by locking in prices for next year and beyond.

OPEC Oil Output Near 2 1/2-Year High as Saudis Show No Letup
Thursday, April 30, 2015 OPEC oil production was little changed in April near the highest level since November 2012 as Saudi Arabia pumped 10 million barrels a day.

Sources: Iraq Tells Partners to Lift Basra Heavy Crude from May
Friday, April 24, 2015 Iraq's State Oil Marketing Organisation tells its oil firm partners to start loading Basra heavy crude from May instead of its flagship light grade.

Shale as World's Swing Producer Signals 'Jagged' Future for Oil
Monday, April 20, 2015 With OPEC ceding control for the first time since the 1980s, US shale oil has been anointed the world's new "swing producer".

Delegate: OPEC Should Consider Return To Oil Quotas
Friday, April 17, 2015 OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, an OPEC delegate says.

OPEC Oil Output Surge Boosts Surplus, Despite Higher Demand
Thursday, April 16, 2015 OPEC says its oil output surged in March, adding to a global glut, despite more evidence that the producer group's strategy of letting prices fall to hurt other producers is taking effect.

Venezuela Oil Minister Meets OPEC Nation Ambassadors
Wednesday, April 15, 2015 Venezuela says ambassadors of various OPEC countries are meeting the country's oil minister Asdrubal Chavez in Caracas.

Saudi Arabia Leads OPEC Oil Boom As US Shale Growth Slows
Wednesday, April 15, 2015 OPEC production climbs by the most in almost four years as Saudi Arabia, Iraq and Libya boost output amid a stronger outlook for global oil demand, according to the IEA.

Iran Joins OPEC Member Libya Calling On Group To Cut Oil Output
Tuesday, April 14, 2015 Iran becomse the second OPEC member this month to call on the group to reduce oil production ahead of its June meeting.

OPEC's No-Cut Strategy is Not Working, Iran Says
Friday, April 10, 2015 OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister says, a sign of the pain lower prices are causing OPEC's less wealthy producers.

Libya Official: OPEC Should Change Course, Cut Oil Output
Wednesday, April 08, 2015 OPEC should change course and cut oil supply by 800,000 bpd or more to prevent an expected return of Iranian exports from weighing on prices, Libya's OPEC governor says.


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