News Topics: OPEC

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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 next week, it can 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.

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.

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.

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.

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.

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.

Venezuela Proposes Non-OPEC Oil Producers Attend Vienna Meeting
Tuesday, April 26, 2016 Venezuela proposes that non-OPEC oil producers attend the group's June meeting in Vienna to continue "dialogue and coordination".

Indonesia OPEC Governor: No Urgency To Freeze Output With Oil At $45
Monday, April 25, 2016 Indonesia's governor says to OPEC oil at $45 a barrel is "not bad" and warns there will be no urgency to freeze output if crude remains at that price.

Venezuela Minister Warns Oil Prices May Collapse if Producers Don't Talk
Wednesday, April 20, 2016 Venezuelan Oil Minister Eulogio Del Pino warns that global oil stocks are nearly full and the oil price could collapse if producers did not resume talks about freezing output levels.

Saudi's Other Warning Makes Oil Traders Sweat After Doha Failure
Tuesday, April 19, 2016 After his comments thwarted supply negotiations, oil traders are weighing another implied warning from the Saudi deputy crown prince: the threat of an intensifying clash with Iran over market share.

Saudi-Iran Tensions Scupper Deal To Freeze Oil Output
Monday, April 18, 2016 A deal to freeze oil output by OPEC and non-OPEC producers falls apart after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.

Oil Producers Head For Doha Counting $315B Cost Of Slump
Friday, April 15, 2016 The world's top oil exporters are burning through their petrodollar assets at an accelerating pace, increasing the pressure to reach a deal to freeze production to bolster prices.

Another Former OPEC member, Gabon, Wants to Rejoin Oil Group
Friday, April 15, 2016 Gabon wants to rejoin OPEC after more than 2 decades, becoming the second former member in a year to seek a return to the oil exporters' group just as it is taking the first steps in years to prop up prices.

After Global Oil Freeze Deal, Prospects for Cuts Unclear and Remote
Thursday, April 14, 2016 Global producers unlikely to cut oil output soon after an output freeze initiative, OPEC sources say.

Qatar Says Mood Positive Ahead of Oil Producers Meeting
Thursday, April 14, 2016 The atmosphere among oil producers is positive ahead of the meeting in Doha on April 17 to discuss an output freeze designed to prop up prices, according to Qatar's energy ministry.

OPEC Cuts 2016 Oil Demand Growth Forecast, Warns Of More
Wednesday, April 13, 2016 OPEC cuts its forecast for global oil demand growth in 2016 and warns of further reductions citing concerns about Latin America and China, pointing to a larger supply surplus this year.

Kuwait Seeks Oil Output at 43-Year High as Freeze Talks Loom
Tuesday, April 12, 2016 Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output.

Ecuador Says Global Oil Producers Won't Discuss Cuts in Doha
Friday, April 08, 2016 Oil-producing countries meeting in Doha, Qatar, this month won’t discuss output cuts, Ecuador Oil Minister Carlos Pareja said.

Ecuador Says Global Oil Producers Won't Discuss Cuts in Doha
Friday, April 08, 2016 Oil-producing countries meeting in Doha, Qatar, this month won’t discuss output cuts, Ecuador Oil Minister Carlos Pareja said.

Latin American Oil Producers Seek Consensus over Output Freeze in Quito
Friday, April 08, 2016 Delegations from Latin American oil exporters Colombia, Ecuador, Mexico and Venezuela were in Quito to seek consensus over a possible output freeze or other methods to bolster international crude prices.

Venezuelan Oil Minister Expected in Moscow for Conference in April
Wednesday, April 06, 2016 Venezuelan Oil Minister Eulogio Del Pino plans to visit Moscow later this month for an energy conference, says a Russian energy source.

Kuwait's OPEC Governor says Signs Point to Output Freeze
Tuesday, April 05, 2016 All signs suggest that a meeting of OPEC and non-OPEC oil producing countries in Doha on April 17 will produce an initial agreement to freeze output, says Kuwait's OPEC governor.

Russian Energy Minister May Meet Saudi Counterpart Before Doha Event
Monday, April 04, 2016 Russian Energy Minister Alexander Novak says he may meet his Saudi Arabian counterpart before a planned oil producers' meeting in Doha on April 17.

Saudi to Join Oil Output Freeze Only if Iran Joins
Friday, April 01, 2016 Saudi Arabia will agree to freeze crude oil production levels only if Iran and other major producers do so.

World's Biggest Oil Market Too Tied To Mideast To End Addiction
Thursday, March 31, 2016 Even in a world awash with crude, buyers in the world's biggest oil market can't seem to escape their addiction to Middle East supplies.

Ecuador Oil Minister to Visit Colombia, Mexico to Push Output Talks
Tuesday, March 29, 2016 Ecuador's oil minister plans to travel to Colombia and Mexico to discuss a proposed meeting between Latin American oil producers that would unify the region in backing an output freeze.


 
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