OPEC

In oil market sunk by coronavirus, giant output cuts make ripple, not big waves

In oil market sunk by coronavirus, giant output cuts make ripple, not big waves

Published 13/04/2020

SINGAPORE (Reuters) - Minimal oil price gains on Monday show record output cuts by giant producers will still leave them with a mountain to climb [more…]

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic

Published 13/04/2020

BAKU/DUBAI/LONDON (Reuters) - OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the [more…]

Goldman Sachs still sees crude prices falling after OPEC+ deal

Goldman Sachs still sees crude prices falling after OPEC+ deal

Published 13/04/2020

(Reuters) - Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal [more…]

Japan petroleum industry head says OPEC+ deal falls short of expectations

Japan petroleum industry head says OPEC+ deal falls short of expectations

Published 13/04/2020

TOKYO (Reuters) - The agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output failed to reach the reduction [more…]

Iraqi oil minister says big oil cut deal will help to stabilize oil market

Iraqi oil minister says big oil cut deal will help to stabilize oil market

Published 12/04/2020

CAIRO (Reuters) - Iraq’s oil minister said late on Sunday that the big oil cut deal reached at an OPEC+ meeting would help stabilize the [more…]

OPEC+ debates biggest ever cut as virus destroys oil demand

OPEC+ debates biggest ever cut as virus destroys oil demand

Published 03/04/2020

DUBAI/LONDON/MOSCOW (Reuters) - OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC [more…]

Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO

Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO

Published 02/12/2019

DUBAI/LONDON (Reuters) - OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June [more…]

OPEC set to extend oil supply cut as Iran endorses pact

OPEC set to extend oil supply cut as Iran endorses pact

Published 01/07/2019

VIENNA (Reuters) - OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran [more…]

Iran says OPEC members who increased output should take lead on cuts

Iran says OPEC members who increased output should take lead on cuts

Published 03/12/2018

LONDON (Reuters) - Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a [more…]

Gas-focused Qatar to exit OPEC in swipe at Saudi influence

Gas-focused Qatar to exit OPEC in swipe at Saudi influence

Published 03/12/2018

DOHA (Reuters) - Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the [more…]