News Topics: OPEC

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OPEC Points To Larger Oil Surplus In 2016, Says Low Prices Hurting Economy
Wednesday, February 10, 2016 OPEC points to a larger oil supply surplus on the world market this year than previously thought as Saudi Arabia and other members pump more oil.

IEA Sees Global Oil Glut Worsening, OPEC Deal Unlikely
Tuesday, February 09, 2016 The world will store unwanted oil for most of 2016 as declines in US output take time while OPEC is unlikely to cut a deal with other producers to reduce output, the IEA says.

Kemp: Saudi Reform Efforts Wax and Wane with Oil Revenues
Tuesday, February 09, 2016 Similar rhetoric employed in 1998 and 2016 is a reminder that efforts at political, social and economic reform in Saudi Arabia have waxed and waned with oil revenues, says Reuters analyst.

Aramco Cuts Oil Pricing to Asia With Iran Set to Boost Exports
Thursday, February 04, 2016 Saudi Arabia lowers March pricing for Asian oil customers, showing no sign of letting up on its campaign to keep market share.

Oil Rises After Russia Says Open to Talking to OPEC
Wednesday, February 03, 2016 Oil rose after Russia repeated its willingness to talk with OPEC, but analysts say rising US crude inventories could put slow the the rally.

Six Oil Producers Agree on Emergency Meeting, Iran's Shana Says
Wednesday, February 03, 2016 Six oil-producing countries have agreed on an emergency meeting between OPEC and non-OPEC member states, according to Iran's oil ministry.

Survey: Iran Pushes OPEC Oil Output to New High as Sanctions are Lifted
Friday, January 29, 2016 OPEC oil production has jumped to its highest in recent history in January as Iran increased sales following the lifting of sanctions and its rivals Saudi Arabia and Iraq also boosted supply, according to a Reuters survey.

Russian Oil Output Cuts: Where There's a Will There's a Way
Thursday, January 28, 2016 Russia's oil industry has argued for years that it cannot cut output to support falling global prices for purely technical reasons; in reality it can - as long as it has the political will.

Sources: Within OPEC, Iran is a Challenge to Any Deal on Oil Cuts
Thursday, January 28, 2016 Iran, boosting oil exports after the lifting of sanctions, is talking of a need to recoup its market share, making the OPEC member a challenge to any deal among producers to fix a supply glut, according to OPEC sources.

OPEC States Say No Meeting Planned As Russia Floats Talks
Thursday, January 28, 2016 OPEC delegates say they have no meeting planned with Russia after the country's Energy Minister Alexander Novak indicated he was willing to meet with the group next month to coordinate oil-output policy.

Oil Investor Hall Sees Conditions Ripe For A Rebound In Crude
Wednesday, January 27, 2016 After a 2015 that famed oil bull Andrew Hall said "wasn't much fun" because of plunging crude prices, the chief of Astenbeck Commodities says the market is ripe for a jump as producers operate near maximum capacity while supply risks rise.

U.A.E. Sees Global Oil Glut Easing Even With Added Iran Supplies
Wednesday, January 27, 2016 The global oversupply of crude will decline this year even after Iran adds an expected 500,000 barrels a day in oil output, United Arab Emirates Energy Minister Suhail Al Mazrouei said.

Russia Pipeline Chief Says Let's Talk to OPEC About Output
Wednesday, January 27, 2016 Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia's pipeline monopoly said on Wednesday, remarks that spurred a sharp rise in prices.

TASS: Lukoil says Russia Needs to Work with OPEC
Monday, January 25, 2016 Russia needs to start working with OPEC to cut oil supplies to the world market in order to support prices, Lukoil Vice President Leonid Fedun says.

Venezuela Urges OPEC And Non-OPEC Producers To Meet In February
Thursday, January 21, 2016 Venezuela Oil Minister Eulogio del Pino says low prices were not covering production costs in the country and proposed OPEC and non-OPEC producers meet in February.

OPEC Sees Deeper Decline in Rivals' Supply as US Shale Falters
Monday, January 18, 2016 OPEC forecast a steeper decline in supplies from rival producers this year as the oil-price crash hits the US and Canada.

OPEC Crude Oil Plunges Below $30 for First Time Since 2004
Thursday, January 07, 2016 The price of crude sold by OPEC members slid below $30 a barrel, the lowest level in almost 12 years, as turmoil in Chinese markets deepened the global commodities rout.

Oil Shrugs as Glut Blunts Shock from Deeper Saudi-Iran Clash
Tuesday, January 05, 2016 At almost any other time, an escalating diplomatic conflict between OPEC members Iran and Saudi Arabia would mean a spike in oil prices.

OPEC Crude Production Steady in December After Vienna Meeting
Thursday, December 31, 2015 OPEC crude output was steady this month as the 12-member group abandoned its usual production target.

Shale's Running Out of Survival Tricks as OPEC Ramps Up Pressure
Monday, December 28, 2015 In 2015, the fracking outfits that dot America's oil-rich plains throw everything they had at $50-a-barrel crude.

OPEC's Market Share To Shrink By 2020 As Rivals Keep Pumping
Wednesday, December 23, 2015 Global demand for OPEC's crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected.

As OPEC Tries to Squeeze Rivals, One of Its Own Feels the Pinch
Tuesday, December 22, 2015 Forget the opposition. OPEC is doing more to ruin the holiday season for Venezuela President Nicolas Maduro than any of his rival lawmakers.

OPEC Producers Bearish On Oil In 2016 As Oversupply Persists
Wednesday, December 16, 2015 OPEC producers see little chance of significantly higher oil prices in 2016 as extra Iranian production could add to surplus supplies and the prospect of voluntary output restraint remains remote.


 
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