News Topics: OPEC

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Venezuela Replaces OPEC Governor Amid Push For Oil Deal
Tuesday, October 18, 2016 Venezuela has tapped its vice-minister for hydrocarbons to be the South American country's new governor to OPEC.

UAE Energy Min: OPEC Committed To Working With Others To Balance Market
Wednesday, October 12, 2016 The United Arab Emirates' energy minister says OPEC members were committed to working with other oil producers to balance the oil market.

OPEC Tries To Build Momentum For Global Oil Freeze
Wednesday, October 12, 2016 OPEC sought to build momentum for its plan to cap global oil production, saying it will extend invitations to more non-member producers.

Jefferies: OPEC Output Cut Unlikely
Tuesday, October 11, 2016 It's unlikely that OPEC will be able to maintain its planned output cut, according to oil and gas analysts at investment bank Jefferies.

Russia Prefers To Freeze Oil Output, Not Cut It
Monday, October 10, 2016 Russia will consider a proposal from the OPEC oil producers' group to cut output if such a proposal is made, but Moscow would prefer to freeze production, Russian Energy Minister Alexander Novak says.

Saudi Arabia's Falih Says OPEC Should Not Crimp Supply Too Tightly
Monday, October 10, 2016 Saudi Arabia's Energy Minister Khalid al-Falih says that OPEC should not crimp oil supply too tightly.

OPEC And Russian Officials Plan Informal Talks In Istanbul
Thursday, October 06, 2016 Energy ministers from Saudi Arabia, Iran and Iraq will be among representatives of key OPEC producers meeting Russian officials for informal talks on oil output in Istanbul next week.

Iraq Opens Up To Agencies On Output Ahead Of OPEC Wrangles
Wednesday, October 05, 2016 Iraq will later this month host influential bodies that assess oil production levels, ahead of an OPEC meeting when the topic will become even hotter as members jostle over allocations.

In OPEC Hotel, Dealmaker's Bold Gambit Wins Saudi-Iran Agreement
Friday, September 30, 2016 Noureddine Boutarfa, the Algerian oil minister who hosted this week's OPEC meeting, resorted to one of the oldest tricks in the dealmaker's book: He put his fellow ministers in the same hotel in the middle of nowhere.

US Rig Count Recovery Hinges On $50 Oil Post-OPEC Meeting
Friday, September 30, 2016 Analysts say continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel.

Western Oil Industry Reaction Mixed On OPEC Cut Pledge
Thursday, September 29, 2016 Industry experts warn that despite apparent support from non-OPEC member Russia, the cartel's production cut could still fall apart as individual nation's quotas are determined.

In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets
Thursday, September 29, 2016 It took the kingdom's new oil minister, Khalid Al-Falih, just six months to blink, ending the country's two-year policy of pump-at-will.

Saudis Soften Oil Stance On Iran But OPEC Deal Still Elusive
Wednesday, September 28, 2016 OPEC might still agree an oil output-limiting deal later this year after failing to do so in Algeria this week.

OPEC Agrees to Crude Production Cut
Wednesday, September 28, 2016 The decision by OPEC member nations in Algiers marks the first self-imposed cut since 2008.

Saudis Willing To Act On 'Critical' Oil Market, Algeria Says
Monday, September 26, 2016 Saudi Arabia, the world's biggest oil exporter, has offered to cut its output to January levels, Algeria's energy minister says as he prepares to host a meeting of OPEC producers later this week.

OPEC Production Deal May Be On Hold
Monday, September 26, 2016 Given recent chatter about expectations and what individual countries are willing to do, analysts are looking to a formal meeting Nov. 30 for a decision announcement.

OPEC Under Pressure To Act In Algiers As Oil Surplus Triples
Friday, September 23, 2016 As OPEC prepares to meet in Algiers next week, the oil market is reminding the group's members what's at stake if they fail to reach a deal.

Saudis Offer Oil Cut For OPEC Deal If Iran Freezes Output
Friday, September 23, 2016 Saudi Arabia has offered to lower its own oil production if rival Iran agrees to cap its output this year, in a major compromise ahead of talks in Algeria next week.

What Does OPEC's Freeze Talk Really Mean?
Friday, September 23, 2016 Some unnamed sources say Saudi Arabia may be willing to cut its production, but non-OPEC member Russia says production cuts off the table.

Analysts: OPEC Production Freeze Never Likely To Happen
Thursday, September 22, 2016 The Organization of Petroleum Exporting Countries (OPEC) will not impose a production freeze at a meeting next week, say oil and gas analysts at FirstEnergy Capital.

Saudis Said To Meet With Iran For Oil Talks Before Algiers
Thursday, September 22, 2016 OPEC members Saudi Arabia and Iran, whose rivalry derailed an oil supply accord earlier this year, met in Vienna a week before the organization holds talks in Algeria.

OPEC May Decide On Extra Meeting Immediately After Algiers
Tuesday, September 20, 2016 OPEC members could decide to hold an extraordinary meeting to discuss oil prices immediately after an informal gathering in Algiers next week, Algerian Energy Minister Noureddine Bouterfa says.

Gadfly: Introducing The Pre-Freeze Oil Boil Before OPEC Meets
Monday, September 19, 2016 Most oil-market observers will be keenly aware of a meeting in Algeria later this month at which the world''s biggest producers will -- or won't -- commit to freezing their crude production.

MEI: Oil Market Rebalance Will Take Another 6 Months
Monday, September 19, 2016 Data and analytics specialist McKinsey Energy Insights (MEI) forecasts that it will take more than 6 months for the oil markets to fully rebalance.

Why The US Is A Major Roadblock For Oil Output Freeze
Friday, September 16, 2016 Whatever the rival factions decide, the US has managed to top them all in terms of production growth over the last five years and will never be likely to join in any group efforts to control supply.

Crude Glut Belies Risk From OPEC's Dwindling Output Cushion
Friday, September 16, 2016 As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages.

BLOG: Wild Cards in Play During Run-Up to OPEC Freeze Meeting
Tuesday, September 06, 2016 After the failure of a June meeting that many characterized as mere "lip service," both OPEC and non-OPEC countries are now discussing the possibility of freezing oil production.

OPEC Secretary-General Meets Iran Oil Minister in Tehran
Tuesday, September 06, 2016 A meeting between OPEC Secretary General Mohammed Barkindo and Iran's oil minister starts in Tehran.

Russia And Saudi Arabia Agree To Work For Oil-Market Stability
Monday, September 05, 2016 Saudi Arabia and Russia agreed to work together to ensure oil market stability even as leaders from the world's two biggest crude producers stopped short of offering detailed proposals.

Oil Jumps amid Talk of Producer Action to Support Prices
Monday, September 05, 2016 Speculation that major producers could cooperate to tackle weak prices causes crude oil futures to rise sharply.

NIOC: Iran Ready To Raise Oil Output To 4MMbpd Depending On Demand
Monday, September 05, 2016 Iran is ready to raise its oil production to 4 million barrels per day (bpd) in the next 2 to 3 months depending on market demand, a senior official from the National Iranian Oil Company (NIOC) says.

OPEC Production Freeze Talks May Thaw Out Ahead of Algiers Meeting
Friday, September 02, 2016 With almost a month to go before an informal meeting, analysts weigh whether OPEC's production freeze meeting in Algiers will be effective where Doha discussion failed.

Saudi Minister Says OPEC Moving To Common Position On Oil Output Changes
Thursday, September 01, 2016 Saudi Arabia's minister of foreign affairs says that it would be reasonable for the kingdom to go along with other producers in changes to oil production.

Iraq To Support Oil Output Freeze At OPEC Meeting
Tuesday, August 30, 2016 Iraq would support a decision by OPEC to freeze oil output to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad.

OPEC's Barkindo: Oil Producers Show Realisation Action Needed On Output
Friday, August 26, 2016 OPEC Secretary-General Mohammed Barkindo sees a growing understanding inside and outside the oil producers' group that action is needed to manage crude production.

OPEC Meeting Won't Result in Production Freeze, Cut
Thursday, August 25, 2016 OPEC's informal September meeting in Algeria won't result in a production freeze or a production cut, says global investment banking firm Jefferies.

Iran's Oil Minister to Join OPEC Talks on Market in Algeria
Thursday, August 25, 2016 Iran's oil minister will join an informal meeting of OPEC members next month in Algiers, a state news service reported, ending uncertainty about whether OPEC's third-biggest producer would participate.


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