Search Results for: OPEC
OPEC to hold emergency meeting if oil prices fail to recover
December 16th, 2015
The Organization of Petroleum Exporting Countries (OPEC) will hold urgent talks, if crude prices don’t recover by February, according to OPEC president and Nigeria’s oil minister Emmanuel Kachikwu. “It is expected that the upward trend in oil prices will ...
Oil dips below $37 as OPEC pumps most in three years
December 11th, 2015
Oil fell below $37 a barrel on Thursday, after new data showed OPEC is still pumping like there is no tomorrow. The mighty oil cartel produced 31.7 million barrels a day in November, its latest monthly report shows. That ...
Shale Doesn’t Swing Oil Prices—OPEC Does
December 10th, 2015
The oil cartel is still influential, and American shale can’t replace the world’s true “swing” producer. The breathtaking crash in oil prices has generated a new conventional wisdom: America’s shale oil industry has supplanted OPEC as the so-called “swing” ...
Opec bid to kill off US shale sends oil price down to 2009 low
December 8th, 2015
Oil falls by $2 a barrel with energy shares as Opec refusal to stop flooding the market with cheap oil and likely US rate hike sends Brent crude tumbling Oil prices have slumped by 5% after the latest attempt ...
OPEC 168th Meeting concludes
December 7th, 2015
The 168th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Friday, 4th December 2015 under the Chairmanship of its President, HE Dr. Emmanuel Ibe Kachikwu, whom the Conference ...
OPEC Heads for Status Quo as Members Clash Over Output Cut
December 4th, 2015
Saudi Arabia opposes cuts without Russian participation Venezuela rallies cash-strapped members to support output cuts OPEC looked on track to maintain the status quo after member states clashed over oil production policy at an unusual informal gathering before the ...
Brent slips on OPEC worry; U.S. crude steady ahead of inventory data
December 2nd, 2015
API says U.S. crude inventories rose by 1.6 mln bbls last week Reuters poll had cited 500,000 bbls draw instead U.S. crude falls in post-settlement trade after API data OPEC expected to keep output high at Friday meeting (Adds ...
OPEC rivals now allies in push for oil market share
November 30th, 2015
Almost by accident, OPEC adversaries Saudi Arabia and Iran are about to work as a team. When the Saudi kingdom decided last year that OPEC should keep pumping to counter a surge in US shale oil, Iran spearheaded resistance ...
Brent crude dips on firm dollar ahead of OPEC meeting
November 30th, 2015
Brent crude futures dipped on Monday as traders remained cautious ahead of an OPEC meeting later this week and as a widely expected U.S. interest rate hike strengthened the dollar. Oil prices are heading for declines of as much ...
Biggest Oil Buyers Pick Themselves as Winners From OPEC Meeting
November 27th, 2015
OPEC to meet Dec. 4 in Vienna to discuss oil production target South Korean refiner sees `best time ever’ as buyer amid glut Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They’ll emerge ...
