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Latest Articles in opec

Saudi Arabia, Russia Sign Oil Pact, May Limit Output In Future

Russian Energy Minister Alexander Novak said the two countries were moving toward a strategic energy partnership and that a high level of trust would allow them to address global challenges

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World Oil Prices Rise On Putin Remarks

OPEC is scheduled to convene late this month in Algeria and oil prices have fluctuated on speculation that the cartel could agree to limit supply

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Tired Of Cheap Oil, Saudis Eye Price Boost To Drive Aramco IPO

The change in tone comes as OPEC and other producers such as Russia may resume talks on stabilising output when they meet in Algeria later this month, after a similar effort to boost oil prices collapsed in April due to Saudi-Iranian tensions

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IEA Sees Oil Markets Slowly Tightening After Months Of Oversupply

Oversupply helped send oil prices from $115 a barrel in June 2014 to as low as $27 in January this year. Crude later recovered to around $50 but fell again towards $40 in July

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Global Glut Of Oil Products Threatens Crude Recovery

While the crude market has been plagued by world oversupply for two years, a global glut of refined products is a relatively new phenomenon

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India's July Iranian Crude Imports Surge 21 Per Cent To Five-Month High

India's oil imports from Iran for the fiscal year that began in April are set to surge to a seven-year high, with the nation's state-owned and private refiners together buying at least 400,000 bpd

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Oil Rises After Month Of Steady Decline But Oversupply Still Weighs

Responding to an expected drop in demand, top exporter Saudi Arabia on Sunday slashed the September price for its light crude for Asian customers by $1.30 a barrel

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Oil Edges Away From April Lows But Oversupply Still Weighs

Oil markets have been dogged by oversupply for the last two years, which pulled down prices by as much as 70 per cent between 2014 and early 2016

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Iraq Undercuts Saudi Arabia In Q2 To Grab Top Spot In India Oil Market

OPEC's top producer has lost ground in a number of major global markets including to Russia in China, and is also facing a further threat from Iran

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Oil Bounces After Big Losses But Glut Persists

A bearish assessment of the oil market by the International Energy Agency (IEA) on Wednesday helped send both crude oil benchmarks down more than 4 per cent by the close of trading

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Oil Prices Edge Up Amid Brexit Concerns, Supply Risks

Oil prices are up almost 80 per cent from 12-year lows of around $27 for Brent and $26 for US crude in the first quarter and they are ripe for supply shocks just as the so-called Brexit vote came as a body blow to global growth hopes

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IEA Sees Global Oil Market Returning To Surplus In Early 2017

Demand growth in 2017 is likely to be flat at around 1.3 million barrels per day, the same level at which it estimates growth for this year, having revised up its May 2016 forecast of 1.2 million bpd

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OPEC Fails To Agree Policy But Saudis Pledge No Shocks

Saudi Arabia and its Gulf allies had tried to propose OPEC set a new collective ceiling in an attempt to repair the group's waning importance

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Oil Prices Tread Water Ahead Of OPEC Meeting

Despite rising output by OPEC's Middle Eastern producers, the group's overall production has remained largely flat this year

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Oil Prices Retreat From $50 On Oversupply Concerns, Stronger Dollar

Oil pushed through $50 for the first time in around seven months on Thursday after supply disruptions from Canadian wildfires and attacks in Libya and West Africa helped cut daily output by 4 million barrels

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