Oil prices turned negative, giving back a more than 12% gain, as the Street awaited details on production cuts from OPEC and its allies, known…
Tag: Opec
A Failure Of OPEC+ Could Turn The U.S. Oil Boom Into Another Bust?
By David Blackmon The prevailing conventional “wisdom” appears to be that they will take their medicine one more time, and agree to at least extend…
Is the Saudi-OPEC Alliance at a Tipping Point?
The Organization of the Petroleum Exporting Countries (OPEC) struggled when oil fell back into the $40s in December and January. The organization is committed to…
OPEC is sending a clear warning to Washington
OPEC is sending a clear message to Wall Street banks and big investors: if Washington passes legislation that would allow the U.S. government to sue…
Crude gets caught up in financial market weakness
Oil rose to $51 a barrel on Wednesday on perceptions that a price slide to 2017 lows prompted by economic worries had been overdone amid an OPEC-led effort to tighten supply.
Oil falls below 50 – The OPEC+ Russia cuts still not doing much to boost oil prices
Oil prices fell more than 2 percent on Monday, with U.S. crude tumbling below $50 a barrel, on signs of oversupply in the United States
Oil Prices Climb as OPEC members and Russia allies agreed to reduce output
The Crude oil soared 2.18% and settled at $52.61 per barrel after OPEC agreed to cut production by 1.2 million barrels per day during the…
OPEC and allies just agreed to cut oil production by 1.2 million barrels per day
- Major oil producers have reached a preliminary deal to cut oil production and boost the market.
- The alliance is currently aiming to take 1.2 million barrels per day off the market, Iranian Energy Minister Bijan Zangeneh told CNBC.
- OPEC has agreed to exempt Iran from cutting production, Zangeneh said.
Oil prices extended gains \ The world consumes nearly 100 million barrels of oil a day.
Oil prices rise on expectations of Crude Oil production cuts around from the world
The U.S oil boom is now hitting the market / Justices to Decide Whether Rule of Capture Applies to Fracking
The U.S oil boom is now hitting the market, thanks to (frac) fracking, it has stunned global energy markets. The U.S. has already leapfrogged both…
Russia’s energy ministry is discussing potential oil production cuts
Russia’s energy ministry is discussing potential oil production cuts with local producers and will continue the production cut talks to come up with a position…
The Oil cartel wouldn’t allow the market to become oversupplied
The Oil cartel wouldn’t allow the market to become oversupplied UAE energy minister Suhail Al Mazrouei, who is also OPEC president, said . The energy…
Crude oil prices are trending up
Crude oil prices are projected to range between US$58 and US$68 per barrel over the next few months in tandem with industry expectations, according to Hibiscus Petroleum Bhd managing director Dr Kenneth Gerard Pereira.
He said the benchmark Brent crude oil, currently trading at US$63 per barrel, was a strong indication of underlying demand due to growing world population.
“Crude oil prices are strong and trending up, it is not as volatile as it was before,” he told reporters at the Hibiscus Petroleum corporate and business update here yesterday. Read more