Results43 articles shown
World's 2nd-Biggest Sovereign Fund Sees Oil Glut Until Mid-2017
Thursday, June 23, 2016 The global oil glut will probably persist until at least next summer as markets take time to absorb excess crude in storage, according to the head of research at the world's second-largest sovereign wealth fund.
Oil Producers Keep Output Freeze Revival on Standby if Prices Weaken
Wednesday, June 22, 2016 Russian Energy Minister Alexander Novak has a contrarian message for those who question the wisdom of freezing global levels of oil output.
OPEC Says Its Oil Revenue Plunges $438 Billion to 10-Year Low
Wednesday, June 22, 2016 OPEC says its oil revenue plunged by $438 billion to a 10-year low last year, as an increase in export volumes failed to compensate for the collapse in prices.
China's March To Biggest Oil Importer Hits US Shale Roadblock
Friday, June 17, 2016 The world's biggest oil importer. The title nobody wants.
OPEC Turmoil Could Turn IEA's Balanced Market Into Shortfall
Thursday, June 16, 2016 The world's most prominent oil forecaster, the International Energy Agency, anticipates near-equilibrium between supply and demand in global crude markets next year.
Iran Oil Comeback That Startled Doubters Approaches Roadblock
Thursday, June 16, 2016 Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions. Without an injection of cash and the easing of remaining trade barriers, the recovery may have run its course.
Source: Iran Oil Sales On Track For 4.5-Yr High as European Buying Recovers
Tuesday, June 14, 2016 Iran's oil exports are on track to hit the highest in almost 4.5 years in June, as shipments to Europe recover to near pre-sanctions level, according to a source with knowledge of the country's crude lifting plans.
Rising Oil Prices Encourage Shale Producers, Dissuade Investors
Monday, June 13, 2016 The oil market just hit a yellow light.
OPEC Sees Oil Glut Shrinking In Second Half Of Year
Monday, June 13, 2016 OPEC forecasts that the world oil market will be more balanced in the second half of 2016 as outages in Nigeria and Canada help to speed up the erosion of a supply glut.
OPEC Optimism Masks Iran Risk to Oil Rally From 12-Year Low
Monday, June 06, 2016 Oil's recovery from a 12-year low may be too good to last as Iranian output rebounds faster than expected.
Falih Charm Offensive Slowly Wins Back OPEC For Saudis
Friday, June 03, 2016 OPEC meeting is peaceful and free of the usual clashes between political rivals Saudi Arabia and Iran, with Falih promising not to flood the market and to listen to Tehran.
Russia to Maintain OPEC Relations, Plans Autumn Meeting
Friday, June 03, 2016 Russia, the world's top oil producer, plans to continue its consultations with OPEC and may hold a meeting with the group this autumn, Energy Minister Alexander Novak told reporters.
Saudis Pledge Not To Shock Oil Market As OPEC Clash Looms
Thursday, June 02, 2016 Saudi Arabia promised Thursday not to flood the oil market with extra barrels as OPEC headed into a heated debate about production policy, with Iran insisting on the right to raise output steeply.
Incoming OPEC Sec-Gen Says Group Intent on Stronger Unity
Thursday, June 02, 2016 OPEC's incoming secretary-general says his appointment showed the oil producer group was intent on stronger unity and that he wanted to make a difference when he takes over its top post.
OPEC Said to Keep Status Quo After Failing to Agree Output Limit
Thursday, June 02, 2016 OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling, according to a delegate at the group's meeting in Vienna.
Saudi, Iran Set To Clash Over OPEC Oil Output Targets
Thursday, June 02, 2016 OPEC is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea.
Gulf OPEC Members Seek To Revive Global Oil Output Deal
Wednesday, June 01, 2016 Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday.
UAE Sees Oil Market Correcting Itself Ahead Of OPEC Meeting
Wednesday, June 01, 2016 The global crude oversupply that has caused prices to slump since 2014 is correcting itself, the oil minister of the United Arab Emirates says on arrival in Vienna ahead of an OPEC meeting this week.
New Saudi Energy Minister Shows He Takes OPEC Seriously
Tuesday, May 31, 2016 Saudi Arabia's new energy minister shows signs that he is taking OPEC seriously.
OPEC Oil Output Falls from Near-record in May on Nigeria Outages
Tuesday, May 31, 2016 OPEC's oil output fell in May from near a record high, a Reuters survey found on Tuesday, as attacks on Nigeria's oil industry and other outages outweighed increases in Iran and Gulf members.
In Rare Compromise, Nigerian Emerges as Frontrunner for OPEC Boss
Tuesday, May 31, 2016 A Nigerian oil technocrat has emerged as frontrunner to take the top job at OPEC, with members seeing Mohammed Barkindo as what would be a rare compromise candidate to lead the group amid rising tensions between Saudi Arabia and Iran.
Oil States Expected To Stick With Saudis: OPEC Reality Check
Monday, May 30, 2016 OPEC members gathering in Vienna June 2 are expected to go along with a Saudi Arabia-led policy focused on squeezing out rivals amid signs the strategy is working.
Battle Inside OPEC Eases As Saudi Oil Strategy Finally Pays Off
Friday, May 27, 2016 Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago. For the first time, it could soon argue convincingly that its strategy of squeezing rival producers is succeeding.
Shale Oil Seen Stifling OPEC's Classic Market-Balancing Role
Thursday, May 26, 2016 The surge in the global supply of shale oil has curbed OPEC's ability to balance crude markets, a former Qatari energy minister says.
Iran-Saudi Row Threatens Any OPEC Deal, Puts Role In Question
Wednesday, May 25, 2016 As Iran reaches pre-sanction output levels, rising political tensions could dampen hopes for a production deal at the next OPEC meeting.
Pre-OPEC Meeting Said to Have No Discussion of Oil-Output Limits
Wednesday, May 25, 2016 The final preparatory gathering of OPEC officials before the ministerial meeting on June 2 didn't discuss any limits on crude output, the latest signal that the group will stick to its current strategy of letting low prices eradicate a supply glut.
Saudi Arabia's Economic Plan Shows It's Just Not That Into OPEC
Tuesday, May 24, 2016 Saudi Arabia, one of the founders of OPEC, is sounding the group's death knell.
Iraq Sticks to Oil Output Growth Plan Despite Spending Cuts
Tuesday, May 24, 2016 Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in OPEC's second-largest producer that projects could be delayed due to spending cuts.
OPEC Set for Another Meeting With No Deal After Doha Failure
Monday, May 23, 2016 After failing to reach an accord on oil supply in Doha last month, OPEC is poised to go another meeting with no agreement on how much crude to produce.
Russia's Novak Says OPEC Unlikely to Make Any Decision on 'Coordination'
Friday, May 20, 2016 Russian Energy Minister Alexander Novak said on Friday that OPEC was unlikely take any decisions on coordinated action regarding the oil market at its meeting early next month.
Kuwait Sees OPEC Strategy Working As Oil Nears $50 On Demand
Thursday, May 19, 2016 OPEC's strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers including U.S. shale companies, Kuwait's acting oil minister says.
Algeria Signs Oil, Gas Deal as OPEC Member Seeks to Boost Sales
Monday, May 16, 2016 Algeria will supply oil and other energy products to Jordan for the first time under a memorandum of understanding signed on Monday, as the OPEC member seeks to diversify sales after years of stagnating crude production.
Russia Unlikely To Take Part In June OPEC Meeting, Separate Talks Possible
Friday, May 13, 2016 Russia is unlikely to part in an OPEC meeting in Vienna scheduled for June 2, says Russian Energy Minister Alexander Novak.
June OPEC Meet To Focus On Dialogue, Not Market Action
Thursday, May 12, 2016 OPEC member Kuwait does not expect any coordinated action to be decided during the group's upcoming meeting in Vienna on June 2, says the country's acting oil minister.
IEA Sees Smaller Global Oil Surplus As India Drives Demand Gains
Thursday, May 12, 2016 The global oil surplus in the first half of this year will probably be smaller than previously estimated because of robust demand in India and other emerging nations, the International Energy Agency says.
Saudi Arabia Plans to Expand Oil Business as Global Demand Rises
Tuesday, May 10, 2016 Saudi Arabian Oil, the world's biggest oil exporter, said it will keep expanding and meet demand from customers as global consumption increases, the head of the state-run producer says.
Oil Rally Seen Reducing Urgency of Iran Joining Output-Cap Talks
Tuesday, May 10, 2016 Iran says it's almost ready to talk with other OPEC members about limiting oil production as the country's exports recover to levels reached before international sanctions crippled crude sales.
Russian Oil Chief Sechin: OPEC Unity Effectively Extinct
Tuesday, May 10, 2016 OPEC is effectively extinct as a united organization and the time when it could determine global oil market conditions should be forgotten, says Igor Sechin, head of Rosneft.
Iran Seen Taking Its Time on Joint Action With OPEC Members
Monday, May 09, 2016 Iran says it's almost ready to talk with other OPEC members about limiting oil production as the country’s exports recover to levels reached before international sanctions crippled crude sales.
Kemp: Saudi Arabia's Oil Policy Could Become More Transparent
Monday, May 09, 2016 The appointment of Khalid al-Falih as Saudi Arabia's new energy minister to replace veteran oil minister Ali al-Naimi is likely to bring a big shift in style even if the substance of policy remains largely unchanged.
OPEC Said to Head to June Talks Without Plan for Supply Cap
Wednesday, May 04, 2016 There are currently no proposals on the table for OPEC to revive limits on crude output at its June meeting after the failure of talks to freeze production last month, according to six delegates from the group.
Sources: Saudis To Push Oil Output Higher But Won't Flood Market
Friday, April 29, 2016 Saudi Arabia's oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources says.
OPEC Oil Output Surges as Iran Looks to Regain Market Share
Friday, April 29, 2016 OPEC crude production surged in April, led by Iran, which is seeking to regain market share after sanctions were lifted early this year.
|Light Crude Oil :||$50.11/BBL||1.99%|
|Natural Gas :||$2.69/MMBtu||0.74%|
|Brent Crude Oil :||$50.91/BBL||2.06%|
|Updated in last 24 hours|