OPEC Company News
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Oil to Flow Again from Saudi-Kuwait Neutral Zone
Friday, February 14, 2020 Kuwait and Saudi Arabia will resume oil production from their shared fields this month, more than five years after a dispute halted supply.
OPEC+ Cut Extension Wins Support from Russian Execs
Wednesday, February 12, 2020 Russia's key oil producers voiced support for the idea of extending OPEC+ output cuts into the second quarter.
OPEC Output Falls as Gulf Producers Amp Up Delivery of Oil Cuts
Thursday, January 02, 2020 OPEC's output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.
OPEC+ Agrees to New Deal That Leaves Oil Supply Barely Changed
Thursday, December 05, 2019 OPEC reached an agreement that adjusts its official production targets, but removes few barrels from a market that's forecast to return to surplus early next year.
OPEC+ Gambles US Shale's Golden Age Is Done
Monday, December 02, 2019 OPEC is making another bold gamble on America's oil revolution: that its golden age is over.
Russia Aims to Keep OPEC+ Pledge
Wednesday, November 20, 2019 Russia offered yet another explanation for why its oil production may exceed its OPEC+ target for November.
Big Data in Oil Market Gets More Positive for Producers
Tuesday, November 19, 2019 The views of the three big oil forecasting agencies on changes in inventory levels next year have diverged over the past month, as the outlook from two of them becomes slightly more positive for producers.
OPEC Output Bounces Back Amid Saudi Arabia Recovery
Friday, November 01, 2019 OPEC's oil production rebounded in October from an eight-year low as Saudi Arabia swiftly recovered from an attack on its biggest crude-processing plant.
OPEC+ Will Have to Cut Output Again
Wednesday, October 16, 2019 The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December.
OPEC Production Suffers Biggest Drop in 16 Years
Tuesday, October 01, 2019 OPEC's oil production tumbled the most in 16 years last month after an attack on Saudi Arabia's energy facilities temporarily halved output in the world's biggest crude exporter.
Ecuador to Exit OPEC in January
Tuesday, October 01, 2019 Ecuador, one of OPEC's smallest members, will leave the group in January as it seeks to increase revenue from crude oil sales.
OPEC Extends Output Cuts Into 2020
Monday, July 01, 2019 OPEC will extend production cuts into 2020, attempting to buoy oil prices.
OPEC's Production Cuts Success At Risk with $80 Oil
Tuesday, April 16, 2019 After reviving oil prices through production cutbacks, OPEC now risks squandering its victory again by letting crude surge too high.
Nigeria Says OPEC+ Deal to Likely Be Extended
Wednesday, April 03, 2019 The OPEC+ deal to curb oil production probably will be extended, "hopefully for another six months" beyond the end of June, Nigerian oil minister Emmanuel Kachikwu said.
Trump Opens Attack on OPEC Again
Monday, February 25, 2019 U.S. President Donald Trump resumed his attacks on OPEC, saying the global economy is too fragile to handle a price hike and urging the cartel to "relax and take it easy."
OPEC Sees Weaker Demand for Its Crude
Tuesday, February 12, 2019 OPEC reduced its estimate for the amount of crude the world needs it to pump this year as US production continues to thrive and the demand outlook falters.
Bill Allowing US to Sue OPEC Moves Forward
Friday, February 08, 2019 Legislation that would allow the US government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress.
Trump May Soon Need to Choose between Battling OPEC Nations and Cheap Oil
Wednesday, January 30, 2019 President Donald Trump may soon need to choose between two recurring fixations: battling OPEC nations, and cheap oil.
Saudis Pledge Deeper Oil Cuts in February
Monday, January 28, 2019 Saudi Arabia expects to reduce oil output once again in February.
Oil CEOs at Davos See Market Rebalancing
Wednesday, January 23, 2019 The oil market is gradually returning to balance as OPEC reins in output and the US shale boom slows, according to executives gathered at Davos.
Trump Credits Own 'Talent' for Oil Prices
Friday, January 04, 2019 President Donald Trump said OPEC 'is essentially a monopoly,' even as he credited his own 'talent' for having brought down oil prices.
OPEC Output Falls Most in Almost 2 Years
Wednesday, January 02, 2019 Before its agreement to cut oil supplies even started, OPEC's production plunged by the most in almost two years last month.
Saudi Energy Minister Confident that OPEC+ Will Extend Cuts in 2019
Wednesday, December 19, 2018 OPEC, Russia and other oil producers will continue to trim production next year to balance the market, according to Saudi Arabian Energy Minister Khalid Al-Falih.
OPEC Is Alive and Highly Relevant
Monday, December 10, 2018 OPEC has been described as alive and well and highly relevant following the announcement of its latest output cut deal.
OPEC+ Recommends Oil Cuts, Defying Trump's Twitter Plea
Wednesday, December 05, 2018 Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut, defying a Twitter plea.
NOPEC to Take Gloves Off, Production Cuts In 2019?
Wednesday, November 14, 2018 OPEC, in cooperation with Russia, are currently discussing the option to put another production cut in place.
Replacing Iran's Lost Oil Supply to Help Supertanker Fleet
Tuesday, October 30, 2018 Higher OPEC oil production and longer voyages are propelling shipowners back to good times.
OPEC Could Cut Production in 2019
Thursday, October 25, 2018 OPEC signaled it could cut output in 2019 due to concerns about rising oil inventories and economic uncertainty.
Saudi Crown Prince to Trump: We've Replaced All Iran's Lost Oil
Friday, October 05, 2018 Saudi Arabia's crown prince, facing US pressure to tame surging oil prices, insisted that the kingdom is fulfilling promises.
After Twitter Fail, Trump's Next Avenue Is US Oil Reserve
Wednesday, September 26, 2018 After failing to cajole OPEC to pump more and lower oil prices, US President Trump could pursue a more direct route.
OPEC Gives Tepid Response to Trump Demand
Monday, September 24, 2018 Brent crude climbed above $80 a barrel to its highest level since November 2014 after OPEC and its allies signaled less urgency to boost output, despite U.S. pressure to temper prices.
Russia Oil Output Is Said to Hit New Highs Before OPEC Talks
Thursday, September 20, 2018 Russia's crude production has jumped to a new post-Soviet record, boosting the nation's budget revenue as it prepares for talks with OPEC+ on further cooperation, according to a government official.
OPEC Sees Slower 2019 Oil Demand Growth, Warns On Economy
Wednesday, September 12, 2018 OPEC further trimmed its forecast for 2019 global oil demand growth and said the risk to the economic outlook was skewed to the downside.
Qatar Calls For Increased Investment In Oil And Gas Markets
Thursday, September 06, 2018 Qatar's energy minister calls for oil-producing countries to boost investment in the oil and gas sector given a recovery in the price of oil.
OPEC's Barkindo: Oil Demand To Hit 100 MMbpd Sooner Than Projected
Wednesday, September 05, 2018 World oil consumption will reach 100 million barrels per day later this year, hitting that level much sooner than previously forecast, OPEC's Barkindo says.
Reuters Survey: OPEC August Oil Output Hits 2018 High Despite Iran Losses
Friday, August 31, 2018 OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq's southern exports hit a record, a Reuters survey found.
OPEC To Discuss Compensating For Iranian Supply Drop After US Sanctions
Wednesday, August 29, 2018 OPEC will discuss in December whether producers can compensate for a sudden drop in Iranian oil supply after US sanctions against Tehran start in November.
OPEC+ Committee: Oil Producers Cut July Output By 9% More Than Agreed
Monday, August 27, 2018 An OPEC and non-OPEC monitoring committee found that oil producers participating in a supply-reduction agreement cut output in July by 9% more than called for in their pact, sources say.
Saudi Cuts Oil Output As OPEC Points To 2019 Surplus
Monday, August 13, 2018 OPEC forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.
OPEC Sources: Saudis Cut July Production
Friday, August 03, 2018 Saudi Arabia, which recently pledged oil-supply increases to tame rallying crude prices, cut production last month, according to OPEC delegates.
Reuters Survey: OPEC July Oil Output Hits 2018 Peak, But Outages Weigh
Monday, July 30, 2018 OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found.
Saudi Arabia Says It Won't Oversupply Global Oil Market
Thursday, July 19, 2018 Saudi Arabia rejected concerns that it's planning to oversupply global oil markets and said it will actually trim crude exports next month.
OPEC To Canada: Build Pipelines Or Watch Investment Flow South
Tuesday, July 10, 2018 The president of OPEC urges Canada to invest in infrastructure to move oil and gas, or risk watching investment flow away to the United States.
Saudis to Balance Chasing Buyers and Charging More
Tuesday, July 03, 2018 Saudi Arabia will have to navigate a particularly delicate balance between.
Abu Dhabi Ready to Pump More Oil Under OPEC Deal
Tuesday, July 03, 2018 Abu Dhabi said it's ready to increase oil output in line with guidance set by OPEC and allied producers.
Trump Says Saudis Must Compensate For Drop In Iran Oil Supply
Monday, July 02, 2018 President Trump lashes out at OPEC with a warning to stop manipulating oil markets and piles pressure on US ally Saudi Arabia.
What Will Brent Do In 2018 Following OPEC Meeting?
Monday, June 25, 2018 Analysts outline their expectations for the price of Brent crude following the latest OPEC gathering in Vienna, Austria.
Oil-Sands Outage Upends Global Oil Market, Overshadows OPEC
Monday, June 25, 2018 The shutdown of a key oil-sands facility in Canada is flipping the global oil market on its head and slamming shares of producers that depend on the plant.
OPEC+ Gives Final Sign Off to Oil-Supply Boost
Saturday, June 23, 2018 OPEC and its allies gave the final sign-off to an oil-production increase, sealing a victory for Saudi Arabia and Russia.
OPEC Insights: Experts Concerned About Supply Gaps, Emerging Markets
Friday, June 22, 2018 Industry experts at the 174th OPEC Conference weigh in on the fate of world trade, emerging markets and a potential supply gap.