Search Results for: Organization of the Petroleum Exporting Countries
Oil prices slip on weak Asian data, fading prospect of output cut
February 1st, 2016
Oil prices dropped on Monday after China and South Korea posted surprisingly weak economic data, while fading prospects for a coordinated production cut by leading crude exporters also dragged on the market. Economic data from China, showing its manufacturing ...
Oil Prices Climb on Hopes for Production Cuts
January 29th, 2016
Move difficult to realize, but could tackle oversupply pressuring crude market Crude-oil prices rose to a three-week high on hopes that Russia and the Organization of the Petroleum Exporting Countries would cooperate on production cuts. Russia’s energy minister said ...
Russia wants to talk to OPEC about output cuts to bolster oil price
January 28th, 2016
Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia’s pipeline monopoly said on Wednesday, remarks that helped spur a sharp rise in world ...
Oil Prices Rise on Hint of Willingness to Cut Supplies
January 27th, 2016
Iraq’s oil minister cites signs that Saudis, Russia may be more ‘flexible’; other OPEC leaders defend pumping strategy Oil prices rose above $30 a barrel Tuesday as traders speculated that large producers might be more willing to cut production, ...
OPEC, Russia talk of oil teamwork, but Saudi talks of investment
January 26th, 2016
Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia signaled its resolve to allow the market to balance ...
OPEC Says Weak Oil Prices to Curb Output
January 19th, 2016
Cartel forecasts non-OPEC output to decline this year Oil prices remained below $30 a barrel Monday but the Organization of the Petroleum Exporting Countries flagged the potential for a recovery, saying the market would start to rebalance this year as weak ...
Oil slides to lowest since 2003 as Iran sanctions lifted
January 18th, 2016
Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country over the weekend. The U.N. nuclear watchdog on Saturday said Tehran had ...
Global oil prices hit 11-year low on China market turmoil, storage overhang
January 7th, 2016
Brent crude futures fell to a fresh 11-year low on Thursday as a sliding yuan and an emergency halt in China’s stock trading left Asian markets in a turmoil, while a huge supply overhang and near-record output levels also ...
Saudi Arabia: Could This Spark a Stock Market Crash in 2016?
January 4th, 2016
Saudi Arabia’s Budget Woes Could Trigger Economic Collapse in 2016 The collapse of oil prices to below $37.00 per barrel, compared to $56.00 last January, has sunk Saudi Arabia’s accounts and hurt its budget expectations. According to the 2015 ...
Oil surges on Saudi Arabia, Iran tensions
January 4th, 2016
Oil prices surged during the start of 2016 trading as relations between top crude producers Saudi Arabia and Iran deteriorated, raising concerns about potential supply disruptions, though weak Asian manufacturing data kept a lid on bullish expectations. Saudi Arabia, ...
