Search Results for: Opec
OPEC expects rivals to pump out less oil in 2016
February 10th, 2016
Oil cartel OPEC has cut its forecasts for how much its rival producers will produce in in 2016, while the 12-member group continues to ramp up its own production levels. According to the latest monthly report from the group, ...
No Agreement on OPEC Meeting After Venezuela Meets With Saudi Arabia
February 9th, 2016
The prospects for an emergency OPEC meeting to initiate coordinated production cuts took a hit this weekend. Venezuela’s oil minister Eulogio del Pino flew to Riyadh to meet with Saudi officials, which followed a recent trip to Moscow to ...
OPEC States Say No Meeting Planned as Russia Floats Talks
January 29th, 2016
One Gulf member says Saudis have no proposal to cut output 5% Oil extends gains after closing Thursday at three-week high OPEC delegates said they have no meeting planned with Russia after the country’s Energy Minister Alexander Novak indicated ...
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 ...
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 ...
When OPEC cuts output, oil prices will begin to climb
January 13th, 2016
While the consensus view is the the oil price will go even lower yet, once production is reduced it will start rising again. There’s a very good reason why the price of oil keeps falling – there’s no real need to buy it. ...
OPEC president sees emergency meeting in March
January 12th, 2016
OPEC president Emmanuel Ibe Kachikwu said Tuesday that he expects an extraordinary meeting of the oil cartel in “early March” OPEC president Emmanuel Ibe Kachikwu said Tuesday that he expects an extraordinary meeting of the oil cartel in “early ...
Not Even OPEC Can Fix Oil Glut
December 30th, 2015
Surprisingly strong crude output in the U.S. and Mideast over the past year pushed oil prices to their lowest levels in more than a decade. But for investors trying to determine whether the oil market is close to a ...
OPEC: $95 Oil, But Not Until 2040
December 28th, 2015
This week opened with the average global price of oil at an 11-year low, yet OPEC expects its own producers eventually will cut back on production, causing prices to rebound to $70 per barrel by 2020. That may seem ...
