Rising US Oil Clout on Show in Houston
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.Present: top U.S. diplomat Mike Pompeo. Absent: leading Saudi and Russian officials…
DAVOS: Oil Majors Huddle in DAVOS to Mull Future
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions…
Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea.
Big Oil Frets About China-U.S. Trade Tensions
Saudis say tensions make many countries anxious; China a key engine for global oil demand growth. Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil.
Oil falls on China concerns, down 3%
Oil prices fell on Friday and ended the week 3 percent lower on lingering doubts over the extent of OPEC cuts, with sentiment worsened by concerns over the economic health of the world's second-largest oil consumer, China, after it reported the steepest falls in overall exports since 2009.
Oil May Rise to $55 if Producers Cooperate
Iranian Oil Minister Bijan Zanganeh expressed optimism on Saturday about an upcoming OPEC meeting and said crude prices could jump to $55 a barrel if an agreement is reached and non-OPEC producers cooperate. "We are receiving positive signals that increase the likelihood of agreement at the meeting ...
OPEC Head to meet Iran Oil Minister
OPEC Secretary-General Mohammed Barkindo and Iran's Oil Minister Bijan Zanganeh will meet in Tehran on Saturday to discuss issues linked to an upcoming OPEC meeting, the ministry's official website reported. "Consultation about the topics of the OPEC ministers meeting in Vienna on November 30 ...
Oil Prices Rise on Saudi Optimism Over OPEC Deal
Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States. Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC…
Oil Rises on Saudi Optimism over OPEC Deal
Saudi Arabia says oil market on way to becoming balanced, but markets oversupplied as OPEC production surges. Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States.
OPEC Pushes for Oil Cut Consensus
OPEC experts to hold next round of talks on Nov. 21. OPEC officials are working to nail down details of their plan to limit oil supply and gaps over some sticking points are narrowing, OPEC sources said, a sign of progress in finalising the exporter group's first such deal since 2008.
OPEC Sees Negative Consequences if Algiers Accord Not Implemented
Failure to implement a deal agreed in Algiers in September to cut oil output would bring negative consequences to an already fragile oil industry, the secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) said on Tuesday.
Oil Investor Impatience Grows Over Global Surplus
Oil investors are growing increasingly disgruntled with the pace at which supply and demand are rebalancing, cutting their bullish bets and pushing the benchmark price to its biggest discount relative to future prices in nine months. The premium…
Oil Rebounds on OPEC Output Promise
Oil producers plan cut following Nov. 30 OPEC meeting; but market fundamentals remain weak. Oil rose more than 1 percent on Monday, boosted by a commitment from OPEC to stick to a deal to cut output, but prices remained more than $7 below last month's…
OPEC Supply Cut Meeting Kicks Off
OPEC officials began talks in Vienna on Friday aimed at working out details of their oil supply-cut agreement, which they concede is looking more complicated by the day. The meeting of the High Level Committee is comprised mainly of OPEC governors…
Oil Nudges Down Ahead of U.S. Data; OPEC Jostling Weighs
Oil prices nudged down in late European trade on Tuesday, retreating from positive territory as traders digested a flurry of comments from OPEC states about the prospects of an output cut and ahead of U.S. crude inventory data. Brent crude oil futures were down 20 cents at $51.26 a barrel by 1400 GMT.
Iraq Seeks OPEC Deal that Would Preserve Oil Output
Iraq told a top OPEC official on Tuesday of its hope that the group could reach a deal to lift oil prices while preserving its own output level, a spokesman of the oil ministry said. Iraqi Oil Minister Jabar al-Luaibi and OPEC Secretary General Mohammed Barkindo…
Russia says Oil Output Freeze Effective for Markets Stabilization
Russia's energy minister Alexander Novak told reporters on Monday that Russia considered oil output freeze to be an effective tool for stabilizing global oil markets. After a meeting with OPEC Secretary-General Mohammed Barkindo, Novak said that…
Oil Prices Fall as Iraq Resists Joining Output Cut
Oil prices fell on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were capped by Iran saying it would encourage other members to join an output freeze. Brent crude futures were down 45 cents at $51.33 a barrel by 1340 GMT. U.S.
Oil Rises as Chinese Output Dips, U.S. Inventories Fall
API reports 3.8-mln barrel draw in U.S. crude stock; OPEC optimistic about output cut. Oil rose by around 1 percent on Wednesday, boosted by evidence of declining production in China and falling U.S. inventories, while an upbeat OPEC statement on its planned output cut also supported the market.
OPEC SecGen: November Oil Output Deal Likely
OPEC should be able to reach a deal next month to limit oil production without too many exemptions for individual countries and without too much disagreement about output levels, the producer group's secretary general said on Tuesday. Mohammed Barkindo…
