OPEC News


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Despite Shale Success US Oil Imports Remain High
Tuesday, July 23, 2019 While it would seem safe to assume that US oil imports have plummeted in the shale-era since 2008, this hasn't exactly been the case.

OPEC+ Cuts Must be Extended Through 2020
Tuesday, July 16, 2019 OPEC+ cuts will need to be extended through 2020 just to keep the market in balance, according to Jefferies.

Oil Near $60 After Storm Disruption
Monday, July 15, 2019 Futures eased in New York after advancing 4.7 percent last week.

OPEC Sees New Oil Surplus Next Year
Thursday, July 11, 2019 OPEC's first forecasts for 2020 showed it faces an even longer and tougher challenge.

Brent Short-Selling at 5-Month High
Monday, July 08, 2019 Hedge funds are growing more pessimistic about oil prices as sentiment on the global economy sours.

Oil Holds Gains as Middle East Tension Rises
Monday, July 08, 2019 Oil held gains as rising tension in the Middle East kept investors wary of potential disruptions.

Vladimir Putin Has OPEC Where He Wants It
Friday, July 05, 2019 In its bid to make a tangible impact on oil prices, the cartel has attached its credibility to an unpredictable coterie of 10 Russian-led non-OPEC crude exporters, leaving itself reliant on Moscow's stance.

Oil Set for Weekly Decline on Demand Concerns
Friday, July 05, 2019 Oil is set for the biggest weekly decline since May.

Oil Down as Smaller US Stockpile Drop Fuels Bears
Thursday, July 04, 2019 Oil declined as a smaller-than-expected draw in U.S. crude and gasoline inventories added bearish sentiment to a market already reeling from a gloomy economic outlook.

Saudi-Russian Oil Fling Becomes Marriage
Wednesday, July 03, 2019 It was supposed to be a six-month fling, but Saudi Arabia and Russia have instead signed up for eternity.

Oil Weighed Down by Global Economic Gloom
Wednesday, July 03, 2019 Oil struggled to recover after suffering its worst reaction to an OPEC meeting in more than four years.

Oil Prices Fall Sharply
Tuesday, July 02, 2019 The WTI and Brent crude oil benchmarks lost more than four percent Tuesday.

Troubling Economic Data Drags on Oil
Tuesday, July 02, 2019 Oil edged higher as investors weighed OPEC's extension of output cuts into 2020 against troubling economic data from around the world.

OPEC Extends Cuts to 2020
Tuesday, July 02, 2019 The cartel was all but forced to extend its effort to counter the U.S. shale boom into a fourth year.

OPEC Extends Output Cuts Into 2020
Monday, July 01, 2019 OPEC will extend production cuts into 2020, attempting to buoy oil prices.

Saudis and Russia Don't Feel Market-Share Pain
Monday, July 01, 2019 OPEC may be losing its share of the global oil market, but not all losses are spread equally.

WoodMac Says OPEC+ Will Continue Cuts
Monday, July 01, 2019 OPEC+ will continue production restraint through the second half of 2019, rolling over the current agreement, according to Wood Mackenzie.

Oil Surges on OPEC+ and US-China Developments
Monday, July 01, 2019 Oil surged to a five-week high after Saudi Arabia and Russia signaled their support for an extension of OPEC+ output cuts and a U.S.-China agreement to restart trade talks improved the demand outlook.

Oil Set for Best Month Since January
Friday, June 28, 2019 The U.S.-Iran standoff and falling American stockpiles have propelled oil toward its biggest monthly gain since January.

Oil Price Benchmarks Show Slight Gains
Thursday, June 27, 2019 WTI and Brent crude oil futures edged upward Thursday.

OPEC Expected to Extend Cuts for at Least 6 Months
Thursday, June 27, 2019 OPEC+ is expected to agree to extend production cuts for at least another six months to 2020.

Oil Retreats as Trade War Concern Returns
Thursday, June 27, 2019 Oil retreated from a five-week high as concern over the U.S.-China trade war came back to the fore.

Oil Steadies as Investors Weigh Mixed Signals
Tuesday, June 25, 2019 Oil steadied after rallying almost eight percent in three days as investors weighed mixed signals.

Oil Price Risks Skewed to Downside
Monday, June 24, 2019 Oil price risks remain skewed to the downside but increasing tension in the Middle East could change that outlook quickly, according to Jefferies.

OPEC+ Cut Extension Highly Likely
Friday, June 21, 2019 An OPEC+ extension of production targets through the rest of the year seems highly likely, according to Jefferies.

OPEC on Track to Extend Cuts in July
Thursday, June 20, 2019 OPEC is poised to extend oil-output cuts for the rest of the year when its members meet next month.

Oil Surges After Iran Shoots Down US Drone
Thursday, June 20, 2019 Oil rose after Iran said it shot down a U.S. spy drone in its airspace.

OPEC+ Sets Date for Meeting
Wednesday, June 19, 2019 OPEC+ agreed to hold its next meeting to discuss oil-output cuts on the first two days of July.

OPEC Weighs Mid-July Meeting
Tuesday, June 18, 2019 OPEC and its allies shifted focus to mid-July for the next meeting to discuss extending production cuts.

Oil Holds Losses as OPEC Uncertainty Continues
Tuesday, June 18, 2019 Oil held losses as OPEC and its allies continue to struggle to set a date to discuss an extension to supply cuts.

OPEC+ Can't Agree on a Meeting Date
Monday, June 17, 2019 OPEC and its partners continue to struggle to set a date for their next meeting.

Oil Short-Selling Surges
Monday, June 17, 2019 Oil skeptics are gaining ground fast as the outlook for global demand worsens.

Brent Holds Gains as Saudis Seek Cut Deal
Monday, June 17, 2019 Brent crude held gains as Saudi Arabia expressed hope that OPEC and its allies will agree to extend production cuts into the second half.

Investors Focus on Trade War
Friday, June 14, 2019 For now, the war that really worries oil investors is the deepening trade conflict between the U.S. and China.

OPEC's Missing Strategy for Oil Output Cuts Carries Bearish Risks
Thursday, June 13, 2019 Crude cartel's pact on output reduction with 10 Russian-led non-OPEC producers has to end at some point and that only points to more barrels on the market.

OPEC Says Trade Tensions are Hurting Oil Demand
Thursday, June 13, 2019 The world economy is headed for its weakest growth in a decade.

Oil Demand Signals Flashing Red
Wednesday, June 12, 2019 Oil demand is shriveling as the trade war between the U.S. and China trips up the global economy.

OPEC Gridlocked on Meeting Date
Wednesday, June 12, 2019 OPEC and its allies are struggling to settle on a meeting date.

Oil Slips
Wednesday, June 12, 2019 Crude slipped after an industry report showed U.S. oil inventories swelling further.

Oil Drops Below $54
Tuesday, June 11, 2019 Oil closed down in New York for the first time in three days.

Goldman Sees Hard Path to OPEC+ Extension
Tuesday, June 11, 2019 Uncertainty over oil supply and demand fundamentals is making it tougher for Russia and Saudi Arabia to reconcile their differences.

The 2020 Oil Market Is Turning Ugly
Monday, June 10, 2019 Oil bulls thought 2020 would be their year.

Oil Extends Gain
Monday, June 10, 2019 Oil extended gains after drilling activity slowed in the world's biggest producer and the top two crude exporters agreed to try and keep global markets in balance amid weakening demand.

OPEC+ Will Need to Extend Cuts
Friday, June 07, 2019 It seems that OPEC+ will need to extend production cuts into the second half of the year.

Oil Extends Rebound
Friday, June 07, 2019 Oil extended its recovery from a five-month low as reports that Washington may engage more with its trade foes eased fears of slumping crude demand.

OPEC+ Agreement Architects Meet
Thursday, June 06, 2019 Russia's energy minister Alexander Novak and Saudi Arabia's energy minister Khalid Al-Falih meet again in St. Petersburg.

Oil Enters Bear Market
Thursday, June 06, 2019 Oil entered a bear market on Wednesday.

Oil Drops Amid Supply Glut Fears
Wednesday, June 05, 2019 Oil resumed declines as an industry report signaling a surprise jump in U.S. crude inventories stirred fears of a supply glut.

2018 Oil Production and Demand
Tuesday, June 04, 2019 OPEC's annual statistical bulletin sheds light on 2018 oil production and demand.

Oil Extends Drop
Tuesday, June 04, 2019 Oil extended losses after plunging 10 percent in four days.