News Topics: OPEC

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OPEC Crude Production Surges as Iraq Pumps at Record Pace
Tuesday, June 30, 2015 Iraqi crude production climbed to a record this month, helping send OPEC output to the highest level since August 2012.

North Dakota Governor Sees OPEC Ceding Global Swing Status
Friday, June 19, 2015 OPEC's decision this month to maintain existing oil output will fail to push rival producers out of the market, North Dakota Governor Jack Dalrymple says.

OPEC Revenue Slumps Below $1 Trillion First Time Since 2010
Wednesday, June 17, 2015 OPEC nations' revenue plunged below $1T last year for the first time since 2010, highlighting how slumping crude prices hurt countries reliant on oil sales to fund their economies.

IEA Report Suggests Global Oil Demand May Creep Up on Production
Thursday, June 11, 2015 Moderation may be on the horizon, but industry analysts say global demand may actually be understated.

US Shale Oil Boom Grinds to a Halt as OPEC Keeps Pumping
Tuesday, June 09, 2015 The shale oil boom that turned the US into the world's largest fuel exporter and brought $3 gasoline back to America's pumps is grinding to a halt.

Kemp: OPEC Adjusts to New Oil Market Reality
Monday, June 08, 2015 OPEC's decision not to cut production was entirely predictable and the only practical option open to its members.

OPEC Refuses To Cut Production Ceiling
Friday, June 05, 2015 Concluding its biannual meeting, OPEC decides to leave oil production targets in place at 30 million barrels per day.

Indonesia Courts Iran Over Oil Supply Amid Talks to Rejoin OPEC
Friday, June 05, 2015 Indonesia is seeking a long-term crude oil supply deal with Iran if trade sanctions against the Persian Gulf nation are lifted, as it talks to OPEC on rejoining the group.

Whatever OPEC Decides, Oil Supplies Are Rising From All Sides
Friday, June 05, 2015 No matter what OPEC says Friday about its production target, the outcome is sure to be more oil.

OPEC Moots $80 As New 'Fair' Oil Price - But Will It Stick?
Thursday, June 04, 2015 Nearly a year after oil markets entered a deep downward spiral, some OPEC members are publicly talking for the first time about a new "fair" price for their crude.

Indonesia Hopes to Rejoin OPEC by Year-End
Thursday, June 04, 2015 Indonesia hopes to rejoin OPEC by the oil producer group's next meeting in around six months' time, according to Energy Minister Sudirman Said.

Iran's Million-Barrel Conundrum Brings Battle Back Inside OPEC
Wednesday, June 03, 2015 Just when it looked like OPEC was winning the war with US shale-oil drillers, a new front is opening up within its own ranks.

Big Oil Chiefs Tell OPEC They're Adapting To Price Shock
Wednesday, June 03, 2015 Six months after OPEC upended oil markets and sent prices crashing, the head of US oil giant ExxonMobil has an unusual message for the cartel: thanks.

OPEC Hopes For Further Oil Price Recovery Despite Glut
Tuesday, June 02, 2015 Angola's oil minister says that $80 per barrel may be right for crude, joining a chorus of OPEC officials and delegates hoping for a further price recovery in months to come despite a global glut.

Kemp: US Shale And OPEC, The Altered Balance Of Power
Monday, June 01, 2015 Two landmark events this month will underscore the extent to which the oil market's balance of power has been transformed by the shale revolution, according to analyst John Kemp.

Naimi Says Saudi Oil Strategy Working, Sees Stronger Demand
Monday, June 01, 2015 Saudi Arabia's oil minister Ali al-Naimi says he expects oil demand to pick up in the second half of 2015 while supply decreases.

End of Oil Glut Seen Nigh as World's Use Set to Top Production
Thursday, May 28, 2015 The global crude market will shift into a deepening deficit in the fourth quarter amid a draw down in US stockpiles, according to Standard Chartered Plc.

OPEC Seen Backing Saudi Arabia’s Plan to Keep Supplies Elevated
Wednesday, May 27, 2015 When Saudi Arabia argues next week that OPEC should keep up production to fight the rise in U.S. shale oil levels, prices will be on its side.

How Russia Was Warned Against Oil Output Cut As Prices Dived
Wednesday, May 27, 2015 As Russia prepares to meet OPEC, a briefing paper from a Moscow think tank sheds light on how the government was warned against cutting oil output even though global prices were plummeting.

OPEC Seen Unyielding in Oil Market-Share Battle with Shale
Friday, May 22, 2015 OPEC will stick with the strategy of favoring market share over prices when it meets next month because rival producers are already starting to buckle.

Oil Trader Andurand Sees US, OPEC Supply Capping Prices
Friday, May 15, 2015 Oil supply from both OPEC and U.S. shale drillers is set to expand later this year, preventing further gains in prices, according to hedge fund manager Pierre Andurand.

IEA: Oil Glut Worsens As OPEC Market-Share Battle Just Beginning
Wednesday, May 13, 2015 IEA warns of a global oil glut building due to Saudi Arabia pumping at near-record highs in an attempt to win a market-share battle against US shale production.

OPEC Oil Output Boost Keeps Supply Surplus Despite Higher Demand
Tuesday, May 12, 2015 OPEC says its oil output rose further in April, keeping an excess supply in the market despite stronger demand and signs the producer group's strategy of letting prices fall to hurt other producers is taking effect.


 
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