OPEC Company News
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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.
Saudi Sides with Oil Consumers as OPEC Nears Pivotal Talks
Thursday, June 21, 2018 Saudi Arabia urges OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran shows signs of wavering.
OPEC Races to Salvage Oil Deal After Iran and Saudi Clash
Wednesday, June 20, 2018 OPEC officials meeting in Vienna race to salvage an oil-production deal after Iran says it was likely to reject any agreement that raised output from the group.
Pioneer Chairman Says Permian Faces Shut Ins on Pipe Shortage
Wednesday, June 20, 2018 The biggest US shale region will have to shut wells within four months because there aren't enough pipelines to get the oil to customers.
Climate Czar Tells OPEC to Pivot from Oil or Prepare to Suffer
Wednesday, June 20, 2018 OPEC needs to support the transition away from oil or prepare for growing climate-induced destabilization that could wreck their markets, UN official says.
Iran Rules Out OPEC Deal As Russia, Saudi Push For Oil Output Hike
Tuesday, June 19, 2018 Iran says OPEC is unlikely to reach a deal on oil output this week.
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.