Search Results for: Organization of the Petroleum Exporting Countries
Oil prices rebound from sharp selloff; more volatility expected
February 10th, 2016
Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Liquidity in Asia ...
Oil Trades Near $31 After Saudi-Venezuela Talks as Bets Increase
February 8th, 2016
Al-Naimi speaks with counterpart about other producer meetings Vitol CEO says crude to stay between $40 and $60 for 10 years Oil traded near $31 a barrel after Saudi Arabia and Venezuela met to discuss cooperating to stabilize the ...
Oil Prices Could Jump 50% by the End of 2016
February 3rd, 2016
WTI seen averaging near $46 a barrel in Q4; Brent at about $48 U.S. sees domestic oil output falling by 620,000 barrels a day Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for ...
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 ...
Oil Drops as Saudis to Maintain Spending, China Diesel Use Falls
January 26th, 2016
Saudi Aramco hasn’t cut investment in oil projects: chairman China’s diesel consumption in December dropped for 4th month Oil dropped after Saudi Arabia, the world’s biggest crude exporter, said low prices won’t reduce its spending on energy projects and China’s ...
The Financial Apocalypse Accelerates As Middle East Stocks Crash To Begin The Week
January 18th, 2016
It looks like it is going to be another chaotic week for global financial markets. On Sunday, news that Iran plans to dramatically ramp up oil production sent stocks plunging all across the Middle East. Stocks in Kuwait were ...
$30 Oil Just Got Closer as WTI Slides to 12-Year Low on China
January 7th, 2016
West Texas Intermediate trades at lowest since December 2003 China lowers yuan daily reference rate by most since August U.S. oil futures in New York slid to the lowest in 12 years as turmoil in China’s markets pushes crude ...
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 ...
Brent Crude Falls; Oil Prices End at Nearly Seven-Year Lows
December 9th, 2015
Prices hit fresh seven-year lows on expectations that U.S. crude inventories rose Brent crude dipped below $40 a barrel Tuesday in a selloff that has raised a worrisome possibility: that oil prices could be even lower next year than ...
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 ...
