News Topics: OPEC

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More Russian Oil Drilling Shows its Resolve to OPEC
Monday, November 30, 2015 Russian oil firms are drilling more, showing the world's top crude producer is ready for a longer fight for market share with OPEC.

Kemp: OPEC Risks Pyrrhic Victory With Oil Policy
Monday, November 30, 2015 As ministers from the Organization of the Petroleum Exporting Countries meet in Vienna, some may wonder if the strategy of maintaining output to defend market share risks securing a Pyrrhic victory.

OPEC Rivals Become Unwitting Allies in Push for Oil-Market Share
Monday, November 30, 2015 Almost by accident, OPEC adversaries Saudi Arabia and Iran are about to work as a team.

Kuwait Names New Acting Oil Minister; Policy Change Not Expected
Monday, November 30, 2015 Kuwait appoints Anas al-Saleh as acting oil minister in addition to his roles as finance minister and deputy prime minister, state news agency KUNA reported.

Biggest Oil Buyers Pick Themselves as Winners From OPEC Meeting
Friday, November 27, 2015 Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They'll emerge as winners from the group's rift over production.

Introducing the New OPEC Member That Likes Lower Oil Prices
Wednesday, November 25, 2015 After defending the interests of oil-exporting nations for 5 decades, OPEC has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps.

OPEC Seen Holding the Line as $40 Oil Looms Over Vienna Meeting
Tuesday, November 24, 2015 It'll take more than $40 crude to make OPEC change its mind, analysts said before the group's Dec. 4 meeting in Vienna.

Venezuela Sees Crude in Mid-$20s If OPEC Doesn't Take Action
Monday, November 23, 2015 Oil prices may drop to as low as the mid-$20s a barrel unless OPEC takes action to stabilize the market, Venezuelan Oil Minister Eulogio Del Pino said.

Saudi Arabia Says Ready To Work With Others To Stabilize Oil Market
Monday, November 23, 2015 Saudi Arabia's cabinet says it is ready to cooperate with OPEC and non-OPEC countries to achieve market stability.

Scant Signs Of Russia-OPEC Output Cut Deal Ahead Of Vienna Meeting
Friday, November 20, 2015 There is little likelihood Russia will work with OPEC on cutting oil output ahead of or on the sidelines of a meeting of the exporter group in Vienna next month, officials and industry insiders say.

OPEC Menaced by US Shale Hits Canada Harder in Price Fight
Wednesday, November 18, 2015 Canadian producers are struggling to cut the cost of extracting bitumen from the oil sands, and their other wells are failing to match the efficiency gains of US rivals.

IEA: Iraq Oil Overtakes Saudi in Europe as OPEC Battles Rage On
Friday, November 13, 2015 International Energy Agency says Iraq has stolen a march on its regional rivals.

Agencies: Russia Says OPEC Unlikely To Cut Output At December Meeting
Friday, November 13, 2015 Russian Energy Minister Alexander Novak says he does not expect the Organization of the Petroleum Exporting Countries to take steps to cut oil output at a meeting on Dec. 4, reports Russian news agencies Interfax and TASS.

OPEC Challenges Shale Afresh as Iraq Crude Floods Gulf of Mexico
Wednesday, November 11, 2015 OPEC's latest challenge to US shale oil producers would be about 2 miles long, lined end to end, and weigh almost 3 million metric tons. It's due to reach American ports this month.

OPEC Said to Consider New Output Ceiling as Indonesia Joins
Wednesday, November 11, 2015 OPEC is considering raising its official production target at its next meeting to take into account new member Indonesia, according to OPEC delegates.

Saudi Minister Says Current Oil Price to Soon Spur Demand Growth
Monday, November 09, 2015 Oil demand will soon reflect the "attractiveness" of the current level of crude prices, and Asia will be a vital engine of economic expansion for decades, Saudi Oil Minister Ali al-Naimi says.

Oil Market Needs Another Month to See If Rebound Is for Real
Thursday, November 05, 2015 Even with oil prices possibly past the low point, and production falling from outside of OPEC, there aren't enough signs to say a full recovery is in the works, Kuwait's oil minister says.

Iran to Pay Oil Companies Larger Fees in 20-Year Contracts
Wednesday, October 21, 2015 Iran will pay foreign oil companies larger fees than it did under previous buy-back contracts to attract $100 billion of investments needed to rebuild its energy industry.

OPEC Didn't Discuss Output Cuts With Other Producing Nations
Wednesday, October 21, 2015 A meeting between officials from OPEC and oil producers outside the group including Russia did not discuss restrictions on crude output or setting a target range for prices, says Russian official.

After Year of Pain, OPEC Close to Halting US Oil in Its Tracks
Wednesday, October 21, 2015 After a year suffering the economic consequences of the oil price slump, OPEC is finally on the cusp of choking off growth in US crude output.

Kemp: OPEC Has Stalled The Shale Revolution
Tuesday, October 20, 2015 The resilience of US shale producers has surpassed all expectations as they have wrung extra efficiencies out of their operations and pulled rigs back to prolific areas.

Iran Sees No OPEC Output Change as Country Seeks $70-$80 Oil
Monday, October 19, 2015 OPEC member states should cut crude output to boost prices to a range of $70 to $80 a barrel, Iran's Oil Minister Bijan Namdar Zanganeh says.

OPEC, Non-OPEC Experts To Talk, But Unlikely To Cooperate On Cuts
Monday, October 19, 2015 A meeting of OPEC and non-OPEC oil market experts this week is unlikely to increase the prospect of joint co-operation on supply curbs or show much support for Venezuela's proposed price band.

Minister: Mexico To Take Part In OPEC Meet, Won't Cut Oil Output
Wednesday, October 14, 2015 Mexico will take part in a technical OPEC meeting Oct. 21 in Vienna but will not cut oil production.

Venezuela Says Eight Non-OPEC Nations Invited To Vienna Meeting
Tuesday, October 13, 2015 Venezuelan Oil Minister Eulogio del Pino says that 8 non-OPEC countries have been invited to an Oct. 21 oil meeting.

OPEC Sees Oil-Demand Growth Leading to Balanced Market in 2016
Monday, October 12, 2015 Global demand for crude is growing while non-OPEC countries are producing less of it, OPEC's Secretary-General Abdalla Salem El-Badri says.

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.


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