OPEC Company News
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Saudi Prince Calls for End to OPEC+ Cheating
Thursday, September 17, 2020The Saudi energy minister gave a forceful condemnation of cartel members that try to get away with pumping too much crude.
Iraq OPEC+ Compliance Appears More Distant
Wednesday, September 16, 2020Iraq is exporting more crude so far in September than its daily average last month.
Friction Growing within OPEC+
Tuesday, September 15, 2020The UAE almost entirely disregarded its commitment to OPEC+ production quotas last month, according to the International Energy Agency.
Venezuela Imports Iranian Crude Despite US Sanctions
Monday, September 14, 2020An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid US sanction tripwires.
New Offender Emerges in OPEC Output Pact
Friday, September 11, 2020Just when OPEC seemed to have finally mastered the long-running problem of members breaching their oil-output targets, a new offender is emerging.
Floating Storage Comeback Would Be Bad News for OPEC+
Tuesday, September 08, 2020An oil trade that only works when the market is glutted may be about to make a comeback.
Russia Sees Oil Above $50 in 2021
Saturday, September 05, 2020Russia's energy minister warned against letting them rise too fast.
Saudi Oil Prince Gets Results
Thursday, August 20, 2020The Saudi royal running the kingdom's oil policy is achieving something his predecessor never did: bringing the quota cheats of OPEC+ to heel.
OPEC+ Stresses Compliance Amid Recovery Threats
Wednesday, August 19, 2020OPEC+ emphasized the need to stick closely to its planned oil-production cuts to guard against the market recovery being undermined by a resurgence of the coronavirus.
OPEC+ Losing Patience with Iraq
Wednesday, August 05, 2020Iraq has come under pressure from Saudi Arabia after failing to meet its production curbs target.
Land Rig Uptick Could Emerge Next Year
Monday, August 03, 2020Here is a preview of what to watch this week in the oil and gas markets.
OPEC Gulf Nations Ended Extra Cuts in July
Monday, August 03, 2020The cartel largely persevered with its strategy to revive the global oil industry.
OPEC Move Impact Could Be Minor
Monday, July 27, 2020Rigzone panelists offer their views on what to watch in the oil and gas markets this week.
Saudi AC Demand May Curb OPEC Plan Impact
Tuesday, July 21, 2020Saudi Arabia is set to burn potentially record amounts of crude oil to run its power plants and keep its citizens comfortably air-conditioned.
Restored OPEC+ Output to Be 'Barely Felt'
Wednesday, July 15, 2020The decision was widely expected but still carries some risks for the cartel.
OPEC Projects 2021 Surge in Crude Demand
Tuesday, July 14, 2020OPEC expects demand for its crude oil to rebound sharply next year.
Saudi Official Offers Sign of Less OPEC+ Cheating
Monday, July 13, 2020Saudi Arabia commended Iraq for implementing almost all of its oil production cuts last month.
Angola Pledges to Fall in Line with OPEC+
Thursday, July 09, 2020OPEC+ is another step closer to addressing the cheating that has dogged the cartel since its inception.
Saudi Prince Talks OPEC Cuts with Nigeria President
Tuesday, June 30, 2020It's unusual for Saudi Arabia's Crown Prince, who is effectively the kingdom’s ruler, to call other leaders about OPEC matters.
OPEC Members Appear to Improve Compliance for June
Tuesday, June 16, 2020Three OPEC members identified by their peers as failing to bring production down to target levels in May appear to have begun improving their compliance in June.
Oil to Flow Again from Saudi-Kuwait Neutral Zone
Friday, February 14, 2020Kuwait 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, 2020Russia'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, 2020OPEC'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, 2019OPEC 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, 2019OPEC 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, 2019Russia 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, 2019The 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, 2019OPEC'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, 2019The 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, 2019OPEC'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, 2019Ecuador, 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, 2019OPEC will extend production cuts into 2020, attempting to buoy oil prices.
OPEC's Production Cuts Success At Risk with $80 Oil
Tuesday, April 16, 2019After 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, 2019The 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, 2019U.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, 2019OPEC 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, 2019Legislation 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, 2019President 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, 2019Saudi Arabia expects to reduce oil output once again in February.
Oil CEOs at Davos See Market Rebalancing
Wednesday, January 23, 2019The 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, 2019President 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, 2019Before 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, 2018OPEC, 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, 2018OPEC 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, 2018Saudi 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, 2018OPEC, 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, 2018Higher OPEC oil production and longer voyages are propelling shipowners back to good times.
OPEC Could Cut Production in 2019
Thursday, October 25, 2018OPEC 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, 2018Saudi 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, 2018After failing to cajole OPEC to pump more and lower oil prices, US President Trump could pursue a more direct route.