OPEC News


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Oil Hits Two-Month High
Friday, January 18, 2019 Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy.

IEA Sees Oil Demand Growth Defying Slowing Economy
Friday, January 18, 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the IEA.

Oil Retreats Near $52
Thursday, January 17, 2019 Oil retreated near $52 a barrel as investors assessed surging U.S. production against output curbs pledged by some of the world's top suppliers.

Oil Holds Gain Near $52
Wednesday, January 16, 2019 Oil held gains near $52 a barrel on optimism the OPEC+ coalition's production curbs will clear a supply glut.

Oil Halts Drop Near $51
Tuesday, January 15, 2019 Oil halted its retreat near $51 a barrel on forecasts for a drop in U.S. inventories and as a rebound in equities signaled investor interest in risk assets was improving.

Permian Shale Oil Boom Holds Mixed News for OPEC
Tuesday, January 15, 2019 For OPEC, good news often comes hand-in-hand with bad news.

Oil Retreats as Risk Appetite Shrinks
Monday, January 14, 2019 Oil extended its retreat as investor appetite for risk assets shrank.

Saudis Say OPEC+ Cuts Provided US Shale Lifeline
Monday, January 14, 2019 Saudi Arabia's energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.

OPEC+ Cannot Decide on Meeting Date
Monday, January 14, 2019 The coalition's next formal meeting is tentatively scheduled for some point in April.

Oil Set for Biggest Weekly Gain in 2 Years
Friday, January 11, 2019 Oil headed for its biggest weekly gain in over 2 years on hopes that OPEC will manage to shrink a glut and trade tensions between the US and China will ease.

Oil Takes Breather After Bull Market Breakout
Thursday, January 10, 2019 Oil's taking a breather after bursting into a bull market.

Oil Extends Longest Rally in 1.5 Years
Wednesday, January 09, 2019 Oil rose back above $50 a barrel, extending its longest rally in 1.5 years.

Oil Holds Above $48
Tuesday, January 08, 2019 Oil held gains after its longest rally in almost 1.5 years.

OPEC Strategy Still a Winner for Members
Monday, January 07, 2019 Given oil's plummet at the end of last year, OPEC's strategy to stabilize the market might look a bust - but it's still a winner where it matters most for the cartel's members.

Oil Heads for Biggest Weekly Gain Since 2017
Friday, January 04, 2019 Brent crude heads for its biggest weekly gain since July 2017 as OPEC's production cuts outweigh concerns over the health of the global economy.

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.

The State of Oil in 2019
Thursday, January 03, 2019 So, what will be the state of oil in 2019? Executives, money managers and analysts weigh in.

Venezuela Oil Exports Slump to 28-Year Low
Thursday, January 03, 2019 Venezuela ended 2018 with a whimper as overseas sales dropped to the lowest in nearly three decades.

Russia's Oil Output Reaches Record Levels in 2018
Wednesday, January 02, 2019 Russia's oil production reached a post-Soviet high last year even as it coordinated supply with the Organization of Petroleum Exporting Countries.

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.

Oil Set for First Annual Decline Since 2015
Monday, December 31, 2018 Oil headed for its first annual decline since 2015, slumping more than 20 percent in a turbulent year.

Oil Watchers See $70 a Barrel in 2019
Friday, December 28, 2018 The world's biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced.

Oil Set for Weekly Drop
Friday, December 21, 2018 Oil's poised for its biggest weekly drop in a month.

What is Driving the Oil Price Down?
Friday, December 21, 2018 What is really driving the price movement?

Oil Tanker Owners Scrap Record Number of Ships
Friday, December 21, 2018 Oil tanker owners scrapped a record number of ships this year.

What Will Oil Prices Be In 2019?
Friday, December 21, 2018 WTI is now forecast to range below the $72 to $80 mark that was projected a few months ago.

OPEC's Sequel to Oil Deal Faces Struggle
Thursday, December 20, 2018 OPEC's bold strategy to revive oil markets proved a surprise success last year, but the sequel they've unveiled for 2019 is getting a cooler reception.

Middle East Leads Global Supply of Conventional Oil
Thursday, December 20, 2018 Analysts expect Middle Eastern oil production to grow by 2.7 million barrels a day by 2025.

Oil Stays Battered
Wednesday, December 19, 2018 Oil is struggling to recover from its biggest 3-day slump since 2016.

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.

Oil Dives Lower
Tuesday, December 18, 2018 Oil dived lower near $49 a barrel as investors sought more assurance that OPEC's output cuts will work in the face of surging U.S. supply.

Oil Holds Loss
Monday, December 17, 2018 Oil held losses near $51 a barrel as investors weighed the effectiveness of OPEC+'s production curbs against growing fears of surging American shale supplies.

Oil Bulls Cut Bets to Lowest Since 2016
Monday, December 17, 2018 Hedge funds aren't buying into OPEC's oil production cuts just yet.

Oil Steadies Below $53
Friday, December 14, 2018 Oil traded below $53 a barrel in New York, little changed a week after OPEC and its allies announced substantial output cuts.

Oil Stays Below $52
Thursday, December 13, 2018 Oil traded below $52 a barrel after U.S. crude inventories slid less than expected and added to concerns that the OPEC+ coalition's output cuts won't be enough to avert a supply glut.

Market Could be Oversupplied by 2020
Thursday, December 13, 2018 The market could be quite tight in the first half of 2019 but oversupplied again by 2020.

OPEC's Unplanned Supply Losses Could Double Its Cut
Thursday, December 13, 2018 Unplanned supply losses from Iran and Venezuela could effectively double the intended cutback of 800,000 barrels a day.

Oil Tanker Owners Find Solace in Shale
Wednesday, December 12, 2018 America's shale boom could be about to spare the world's oil tanker owners from a typical OPEC ravaging.

OPEC Deal Solid Step in Right Direction
Wednesday, December 12, 2018 The OPEC deal was a solid step in the correct direction, according to Genscape.

Oil Holds Drop
Tuesday, December 11, 2018 Oil held its biggest loss in 2 weeks.

Biggest Negative Risk for Oil Price
Tuesday, December 11, 2018 The biggest negative risk for the price of oil after the OPEC+ decision is a larger slowdown in the world economy.

Oil Extends Gain
Monday, December 10, 2018 Oil in London extended gains near $62 a barrel on prospects for a shrinking glut.

OPEC Cut Wrong-Foots Short Sellers
Monday, December 10, 2018 OPEC's surprise output reduction has wrong-footed short-sellers.

OPEC Cut Was Not Easy
Monday, December 10, 2018 The move to cut 1.2 million barrels per day from the market was not easy, according to UAE Minister of Energy Suhail Mohamed Al Mazrouei.

Libya Declares Force Majeure at Largest Field
Monday, December 10, 2018 Libya declared a state of force majeure at its largest oil field after an armed group forced a production halt.

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.

Oil Extends Losses
Friday, December 07, 2018 Oil extended losses near $51 a barrel after OPEC ended talks without a deal on production curbs.

OPEC Goes Back into Crunch Talks
Friday, December 07, 2018 OPEC prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal.

Reversing the Bearish Price Sentiment
Friday, December 07, 2018 Jefferies says reversing the overwhelmingly bearish price sentiment will likely require a credible and cohesive message from the OPEC meeting.

OPEC Agrees Larger Than Expected Oil Cut
Friday, December 07, 2018 OPEC finally broke an impasse over production curbs, agreeing on a larger than expected cut with allies after 2 days of fractious negotiations in Vienna.