OPEC

OPEC cuts oil demand forecasts, BP sees 'peak oil' in 2020s

OPEC cuts oil demand forecasts, BP sees 'peak oil' in 2020s

Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly ...Read More

COVID-19 affect: Demand squeeze in India reduces OPEC share in oil imports

COVID-19 affect: Demand squeeze in India reduces OPEC share in oil imports

The Covid-19 disruptions have changed the structure of the country's oil and gas sector with the share of OPEC crude in Indian oil import...Read More

Global oil demand to record historic growth in 2021: OPEC

Global oil demand to record historic growth in 2021: OPEC

The Organization of the Petroleum Exporting Countries (OPEC) predicts that global oil demand will register a historic high growth of seve...Read More

Oil prices rise as OPEC+ output cut comes into effect

Oil prices rise as OPEC+ output cut comes into effect

The benchmark Brent crude oil is at around $27 per barrel. The June contract on the Intercontinental Exchange (ICE) is trading at $26.89 ...Read More

World shares mixed after Wall Steet rally as oil prices recover

World shares mixed after Wall Steet rally as oil prices recover

Shares were mixed in Europe and Asia on Thursday following a rally on Wall Street and a slight recovery in oil prices.

Asian stock markets rise moderately as oil prices recover

Asian stock markets rise moderately as oil prices recover

Asian shares rose moderately on Thursday following a rally on Wall Street and even oil prices recovering from their recent plunge to zero.

Now Brent crude slumps to below post-9/11 levels, WTI trades above $10/bbl

Now Brent crude slumps to below post-9/11 levels, WTI trades above $10/bbl

Just days after the rout in the WTI crude prices in the US, Brent crude has slumped below the levels recorded after the 9/11 terrorist at...Read More

Trump orders Chevron Corp to 'wind down' oil fields in Venezuela

Trump orders Chevron Corp to 'wind down' oil fields in Venezuela

The Trump administration on Tuesday ordered Chevron Corporation to "wind down" operations in Venezuela by December 1, barring the Califor...Read More

Will take advantage of the crash in oil prices to fill national stockpile: Trump

Will take advantage of the crash in oil prices to fill national stockpile: Trump

President Donald Trump said Monday the United States would take advantage of the historic drop in oil prices to replenish its national st...Read More

Oil prices rise further as Trump hints at deeper output cuts

Oil prices rise further as Trump hints at deeper output cuts

Oil prices rose Tuesday after US President Donald Trump said producers are considering cutting 20 million barrels per day -- more than do...Read More

Oil prices surge after OPEC and allies agree on output cut deal

Oil prices surge after OPEC and allies agree on output cut deal

International crude oil prices surged on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies includi...Read More

Despite Trump's mediation, G20 ministers struggle to finalise oil output cuts

Despite Trump's mediation, G20 ministers struggle to finalise oil output cuts

During a virtual summit held by G20 energy ministers on Friday top oil producers struggled to finalise production cuts, despite US Presid...Read More

Mexican standoff imperils proposed 10mn-barrel OPEC oil cut

Mexican standoff imperils proposed 10mn-barrel OPEC oil cut

A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day cut until July, then an 8 mill...Read More

Coronavirus Impact: OPEC, Russia agree to cut oil output; Mexico declines to sign deal

Coronavirus Impact: OPEC, Russia agree to cut oil output; Mexico declines to sign deal

Major oil producers except Mexico agreed to cut output in May and June by 10 million barrels per day, OPEC said Friday, after marathon ta...Read More

OPEC says top oil producers except Mexico agree to output cuts

OPEC says top oil producers except Mexico agree to output cuts

Major oil producers except Mexico agreed to cut output in May and June by 10 million barrels per day, OPEC said on Friday, after marathon...Read More

‘Russia, Saudi agree oil output cut deal’

‘Russia, Saudi agree oil output cut deal’

OPEC and other oil producers were set to debate on Thursday oil cuts as big as 20 million barrels per day (bpd), equivalent to about 20 p...Read More

US crude oil stocks rise by 15 mn bbl in week to Fri, output slips

US crude oil stocks rise by 15 mn bbl in week to Fri, output slips

Crude oil inventory in the US rose by 15.2 mln barrels to 484.4 mln bbl in the week ended Friday, data from the country's Energy Informat...Read More

Oil prices rise on the hope of an agreement to cut output

Oil prices rise on the hope of an agreement to cut output

Oil prices rebounded on Tuesday on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up th...Read More

Asian markets rise on hopes on Covid-19

Asian markets rise on hopes on Covid-19

Asian markets rose Monday as some of the world's worst-hit countries reported falling death rates, providing some much-needed hope in the...Read More

OPEC’s Monday meeting 'probably' postponed by a few days: Source

OPEC’s Monday meeting 'probably' postponed by a few days: Source

A special meeting to discuss output cuts between OPEC and other major oil producers, among them Russia, will now likely be put back sever...Read More

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