OPEC Company News
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OPEC Aims for Modest Output Hike to Overcome Iran's Dissent
Monday, June 18, 2018 OPEC is discussing a relatively modest production increase before its meeting in Vienna this week.
Continental Resources CEO Harold Hamm Pulls Out Of OPEC Meeting
Monday, June 18, 2018 Harold Hamm, founder and CEO of Continental Resources, has canceled a scheduled appearance at an OPEC event this week, a company spokeswoman says.
Sources: Saudi Arabia Plans Leaders' Summit this Year for OPEC, Allies
Friday, June 15, 2018 Saudi Arabia plans to host a leaders' oil summit later this year for OPEC and non-OPEC countries participating in a supply cut pact, two sources familiar with the matter said.
Libyan Oil Exports Impaired as Some in OPEC Seek More Supply
Thursday, June 14, 2018 Two of Libya's biggest oil ports stopped loading crude after armed forces clashed nearby, taking more barrels off the market.
Russia: OPEC And Allies Could Hike Output Gradually From July
Thursday, June 14, 2018 OPEC and its allies could agree to gradually increase oil production starting from July 1, the Russian energy minister says.
Trump Renews Twitter Assault on OPEC
Wednesday, June 13, 2018 Trump pushes the case for lower oil prices a week before the cartel meets to set production policy.
Russia and Saudi Arabia Pursue OPEC Deal at World Cup Meeting
Wednesday, June 13, 2018 Vladimir Putin and and Mohammed bin Salman will discuss how to boost oil production while maintaining their petro-alliance when they meet.
OPEC Highlights Demand Uncertainty Before June 22 Meeting
Tuesday, June 12, 2018 OPEC emphasizes the deep uncertainty over the strength of demand for oil just a week before its crucial meeting.
Russia Is Said to Seek Oil-Cuts Rollback for Most OPEC Nations
Tuesday, June 12, 2018 Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels.
Saudi Oil Output Said to Rise Above 10 Million Barrels a Day
Monday, June 11, 2018 Saudi Arabia boosted daily oil output in May to the highest level since October, ahead of meetings with Russia and other global producers next week.
Iraq Says Oil Producers Should Not be Influenced by Calls to Boost Output
Monday, June 11, 2018 Iraq's oil minister said producers should not be influenced by pressure to pump more oil and unilateral decisions on output could be a breach of a supply cut pact between OPEC and non-OPEC countries, leading to its possible collapse.
Russia Said to Boost Oil Output as Commitment to OPEC Cuts Wanes
Monday, June 11, 2018 Russia is showing signs of weakening its commitment to oil-supply cuts as production rises before crucial talks with OPEC about the future of the agreement.
OPEC Likely To Reject Iran Request For Discussion Of US Sanctions
Friday, June 08, 2018 OPEC is likely to reject a request by Iran to discuss US sanctions against Tehran at this month's meeting of the oil producer group, a source says.
BLOG: Poll Results Show 'Nothing' Will Be Decided at Next OPEC Meeting
Thursday, June 07, 2018 A new Rigzone poll indicates 'nothing' will be decided at the next OPEC meeting.
Philippines Plans To Import Diesel From Russia, Non-OPEC Countries
Thursday, May 31, 2018 The Philippines' energy ministry plans to import initially about 240 million litres of diesel for stockpiling purposes.
COLUMN: OPEC and Russia Best Not Poke the Shale Oil Bear
Tuesday, May 29, 2018 The spread between Brent crude and West Texas Intermediate has reached its widest level in three years.
Saudis, Kuwait, UAE Are Said to Plan Meeting on OPEC
Tuesday, May 29, 2018 Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday to discuss OPEC matters.
US Senate Democrats Want Trump To Prod OPEC To Lower Oil Prices
Wednesday, May 23, 2018 US Senate Democrats urge President Donald Trump to try to prod OPEC to take steps to lower oil prices.
With Glut Almost Gone, OPEC Still Cuts More Than Oil Pact Demands
Monday, May 14, 2018 A global oil glut has been virtually eliminated, figures published by OPEC show.
OPEC's Reason for Sticking With Cuts Rests on Shaky Ground
Wednesday, May 02, 2018 OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target.
OPEC Cuts May Go Deeper as Another Member Sees Output Slump
Friday, April 27, 2018 While plunging output in Venezuela captures the oil world's attention, problems are quietly festering in another OPEC nation.
OPEC Sees Oil Markets Tighten Further Even As US Shale Booms
Thursday, April 12, 2018 The global oil stocks surplus is close to evaporating, OPEC says.
OPEC Supply Cut Compliance Hits Record, Oil Glut Going Fast
Wednesday, March 21, 2018 Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast.
The Next Entrant in the Shale Revolution? OPEC's Saudi Arabia
Wednesday, March 07, 2018 Saudi Aramco, the world's largest oil exporter, plans to start producing unconventional natural gas this month.
Gadfly: Trump Tariffs Are a Gift for OPEC and Russia. Not Shale
Monday, March 05, 2018 President Donald Trump's planned 25% import tariff on steel is a gift to OPEC and Russia.
OPEC Sec Gen: Lack of Investment 'Sowing Seeds for Future Energy Crisis'
Monday, March 05, 2018 IEA executive director Fatih Birol and OPEC secretary general Mohammad Sanusi Barkindo discuss challenges facing the oil and gas industry during the CERAWeek by IHS Markit conference in Houston.
Make Room OPEC: UK Is Set to Become Net Crude Oil Exporter
Monday, February 26, 2018 For all the talk of aging oil fields and shrinking production, the UK is about to achieve a surprising feat.
OPEC, Russia Said to See Oil Glut Dissipating at a Faster Rate
Tuesday, February 20, 2018 The latest discussions between OPEC and its oil-producer allies concluded that the supply glut is dissipating at a faster pace than previously anticipated.
OPEC Considers Moving the Goalposts - Here's Where They Might Go
Friday, February 16, 2018 The 24-country alliance wants to reduce oil stockpiles to their five-year average.
A Year Into OPEC's Production Cuts, Asia's Oil Markets Have Tightened
Thursday, February 15, 2018 Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably.
Africa's Top Oil Producer Poised to Give OPEC an Output Headache
Thursday, February 15, 2018 Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies are trying to restrict output.
Kemp: OPEC Pact Likely To Evolve Rather Than Terminate
Wednesday, February 14, 2018 Ministers from OPEC have been anxious to counter speculation about an early end to production curbs.
OPEC President Says Shale Won't Thwart Plan to Clear Glut
Monday, February 12, 2018 Surging output of US shale oil won't be a 'huge distorter' of efforts by global crude producers to clear a glut, according to OPEC's president.
Oil World Turns Upside Down as US Sells Oil in Middle East
Wednesday, February 07, 2018 The United Arab Emirates isn't the most obvious customer for Texan oil.
North Dakota Bakken Oil Rises Again in Shadow of Mighty Permian
Thursday, February 01, 2018 The second-largest US shale-oil play is growing in the shadow of a newer, bigger and faster-growing competitor.
Shale Sends US Output Past Historic 10 Million-Barrel Mark
Wednesday, January 31, 2018 US oil production surged above 10 million barrels a day for the first time in four decades.
Minister: Iraq To Comply With OPEC Deal Despite Oil Export Capacity Rise
Monday, January 29, 2018 Iraq will comply with the OPEC-led deal on reducing output even though Baghdad is working hard to increase its oil export capacity.
Crumbling Refinery Profits Threaten OPEC-Led Crude Rally
Monday, January 22, 2018 The recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil's bull run.
OPEC's Cheer Over 2018 Oil Rally Tinged By Shale Worries
Tuesday, January 09, 2018 Oil's price rally this year to its highest since May 2015 may seem a source of glee for OPEC.
OPEC's Oil Cuts Claim a Victim as Supertanker Earnings Crash
Tuesday, January 09, 2018 OPEC's strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry's supply chain.
BLOG: What do Rigzone Readers Think of the OPEC/NOPEC Deal?
Thursday, December 07, 2017 Was the latest OPEC/NOPEC agreement sufficient?
Big Shale Turns OPEC Ally From Foe With Focus on Oil Returns
Monday, December 04, 2017 Don't expect Big Shale to rush and fill the hole left by OPEC in the oil market.
OPEC, Russia Agree Oil Cut Extension To End Of 2018
Thursday, November 30, 2017 OPEC agrees to extend oil production cuts until the end of 2018, Reuters reports.
OPEC Heading For Oil Cut Extension With A Caveat
Tuesday, November 28, 2017 OPEC and Russia are heading towards prolonging their oil supply cuts for the whole of 2018.
OPEC Sees Market Rebalancing after June as it Mulls Oil Cut Extension
Monday, November 27, 2017 Oil markets will rebalance after June 2018 at the earliest, an OPEC working panel concluded, according to OPEC sources, signalling the need to extend existing production cuts well into next year.
BLOG: Production Cut Extension at OPEC Meeting? Wouldn't Count On It
Wednesday, November 22, 2017 Rigzone readers aren't so confident that output cuts will be extended.
Wild Swings in Iraq Oil Production Give OPEC Another Problem
Tuesday, November 21, 2017 OPEC has an Iraq problem: the group's second-biggest exporter is lurching between quota busting and production-crimping crisis.
OPEC Points To Larger 2018 Oil Supply Deficit As Market Tightens
Monday, November 13, 2017 OPEC raises its forecast for demand for its oil in 2018 and says its deal with other producers to cut output was reducing excess oil in storage.
Total Primary Energy Demand to Increase by 35%
Wednesday, November 08, 2017 Energy demand is on the rise, according to the 2017 World Oil Outlook report.
OPEC Fightback Sees US Stocks Crumble
Tuesday, November 07, 2017 OPEC's finally getting some credibility back behind its swagger, ahead of the oil group's meeting later this month in Vienna.