Organization of the Petroleum Exporting Countries

Saudi Aramco’s profit plunges, sees signs of oil market recovery

Saudi Aramco’s profit plunges, sees signs of oil market recovery

Published 10/08/2020

DUBAI (Reuters) - State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and [more…]

Russia is raising oil output as OPEC+ cuts ease: source

Russia is raising oil output as OPEC+ cuts ease: source

Published 03/08/2020

MOSCOW (Reuters) - Russian oil and gas condensate output increased to 9.8 million barrels per day (bpd) on Aug. 1-2 from 9.37 million bpd in [more…]

Saudi King Salman, 84, admitted to hospital

Saudi King Salman, 84, admitted to hospital

Published 20/07/2020

RIYADH (Reuters) - Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the [more…]

UAE wants to see a return of Libya’s oil production with safeguards: minister

UAE wants to see a return of Libya’s oil production with safeguards: minister

Published 13/07/2020

DUBAI (Reuters) - The United Arab Emirates wants to see a return of Libya’s oil production as soon as possible but with safeguards in place [more…]

Analyst View: After U.S. oil futures crash, what next?

Analyst View: After U.S. oil futures crash, what next?

Published 21/04/2020

(Reuters) - A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to [more…]

Oil climbs after OPEC+ agree record output cut

Oil climbs after OPEC+ agree record output cut

Published 13/04/2020

SINGAPORE (Reuters) - Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it [more…]

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…]