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News Topics: OPEC

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Saudi Oil Minister Naimi To Stay For Now, Policy Steady
Friday, January 23, 2015 Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi in a message aimed at calming a jittery energy market mindful of Naimi's powerful role within OPEC.

Deputy PM: Russia May See Oil Output Fall by 1M BPD at Most
Wednesday, January 21, 2015 Russia may see a natural decline in oil output by around 1 million barrels per day but has no plans to cut production in coordination with OPEC, says the country's deputy prime minister.

OPEC, Oil Companies Clash At Davos Over Price Collapse
Wednesday, January 21, 2015 OPEC defends its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage.

Oman Oil Minister Slams OPEC Policy on Prices, Market Share
Wednesday, January 21, 2015 Oman oil minister Mohammad bin Hamad al-Rumhy sharply criticizes OPEC's production policy, saying it is creating volatility in the market without benefiting oil producers and that his country is suffering.

Iran Sees No OPEC Shift Toward A Cut, Says Oil Industry Could Withstand $25
Monday, January 19, 2015 Iran sees no sign of a shift within OPEC towards action to support oil prices, its oil minister says, adding its oil industry could ride out a further price slump to $25 a barrel.

OPEC Sees 2015 Supply Surplus Rising, Even As Oil Slump Slows Shale Boom
Thursday, January 15, 2015 The collapse in oil prices is starting to slow growth in US output, OPEC says, although the slowdown will not prevent an increasing global surplus in 2015.

UAE Energy Minister: No Change In OPEC Policy Amid Oil Slide
Tuesday, January 13, 2015 The UAE energy minister says there are no plans for OPEC to curb production to shore up falling crude prices, and instead put the onus on shale oil drillers for oversupplying the market.

Gulf Delegates: No Chance Of OPEC Output Cut, Even After Oil Dips Below $50
Thursday, January 08, 2015 Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, even though they dipped below $50 a barrel this week.

King Says Saudi Arabia to Deal with Weak Oil Challenge with 'Firm Will'
Tuesday, January 06, 2015 King Abdullah says Saudi Arabia will deal with the challenge posed by lower oil prices with a 'firm will'.

High Noon on the Gulf Coast: Canada, Saudi Oil Set for Showdown
Tuesday, January 06, 2015 A brewing battle between Canadian and Saudi Arabian heavy crudes for the Gulf Coast refinery market threatens to drive oil prices even lower.

IMF Says Drop in Oil Prices to Persist, Help Global Growth
Monday, December 22, 2014 The recent drop in oil prices should persist, helping to boost global economic activity by up to 0.7 percentage points next year, two senior IMF economists write in a blog.

Kemp: Oil Prices and Saudi Diplomacy
Monday, December 22, 2014 Saudi Arabia sets oil market policy purely on an economic basis, no less and no more, the kingdom's oil minister reiterated in a broad-ranging interview with the newspaper Al-Hayat.

Saudi Oil Minister: Ready to Raise Output If New Clients Emerge
Monday, December 22, 2014 Saudi Arabia is prepared to increase its oil output and claim a bigger market share to meet the demands of any new customers.

Saudi's Naimi: OPEC Cannot Cut Alone But Others Would Not
Thursday, December 18, 2014 Saudi Arabia's oil minister Ali Al-Naimi says that OPEC could not cut output without the support of other big producers and attempts to get them on board had not worked.

Despite Pain, OPEC Hawks Come Round To Merits Of Riding Out Oil Slump
Wednesday, December 17, 2014 OPEC members which backed an output cut at the group's meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share.

OPEC Signals 'Wait And See' Approach Could Last A Year
Tuesday, December 16, 2014 Core Gulf OPEC oil producers signal they are prepared to wait as long as six months to a year to see the market stabilize.

Algeria Oil Minister Says OPEC May Hold Emergency Meeting Before June
Tuesday, December 09, 2014 OPEC may still hold an emergency meeting before its June session to discuss how to tackle a surplus in global oil supplies and a drop in prices, Algeria's energy minister says.

IEA's Birol Sees Oil Price Rising Near $100 in Coming Years
Friday, December 05, 2014 International Energy Agency Chief Economist Fatih Birol says he sees oil rising to near $100 per barrel.

Iraq Exports Boost to Add Pressure on 2015 Oil Market
Thursday, December 04, 2014 Iraq's plan for greater oil exports in 2015 will add to global oversupply and make it less likely OPEC members will curb their own supplies.

Kemp: News Of OPEC's Demise Has Been Much Exaggerated
Wednesday, December 03, 2014 Analyst John Kemp asks, "if OPEC cannot act to defend the prices and revenues of its member countries, does the organization still serve any purpose?"