OPEC News

OPEC, Russia moving closer to a compromise on oil output cuts extension – Reuters
OPEC, Russia moving closer to a compromise on oil output cuts extension – Reuters
The OPEC and Russia are moving closer to a compromise on the duration of record oil output cuts extensions, Reuters cites two OPEC+ sources on Monday. The sour...
Forex News 21 hours ago
WTI consolidates around $35.50 amid OPEC+ output cuts extension hopes
WTI consolidates around $35.50 amid OPEC+ output cuts extension hopes
WTI off 3-month highs, but buoyed by output cuts extension talks. Renewed US-China trade war fear saps energy out of the bulls. All eyes on the risk tr...
Commodity News 21 hours ago
Russia close to hitting OPEC+ oil output target in May – Reuters
Russia close to hitting OPEC+ oil output target in May – Reuters
Sources familiar with the data told Reuters on Monday, Russia’s oil and gas condensate production fell to 9.39 million barrels per day (bpd) in May, almost reac...
Forex News 21 hours ago
Kremlin: OPEC+ talks are ongoing, no need to get ahead of ourselves
Kremlin: OPEC+ talks are ongoing, no need to get ahead of ourselves
Putin has no plans yet to meet with Russian oil companies Putin is in constant contact with energy minister Novak more to come ......
Forex News 21 hours ago
WTI retreats from 12-week high as OPEC+ news confront Sino-American tension
WTI retreats from 12-week high as OPEC+ news confront Sino-American tension
WTI steps back from 13-week top of $36.04 flashed early in Asia. OPEC+ to pre-pone meeting, calls for 1-2 month extension to current output cuts are on the...
Commodity News 1 days ago
OPEC+ could be extending current oil output cuts for 1-2 months
OPEC+ could be extending current oil output cuts for 1-2 months
Energy Intelligence reports of a source that has said Opec+ will discuss extending the current 9.7 million bpd cuts for 1-2 months. ...
Forex News 1 days ago
WTI oil prices rally on gasoline demand and hopes of output cuts’ extension
WTI oil prices rally on gasoline demand and hopes of output cuts’ extension
  WTI crude oil rises 5% to reach $34, right below two-month highs. Oil prices appreciate buoyed by signals of higher gasoline demand. Speculation...
Commodity News 5 days ago
Saudi Arabia and some other OPEC producers want to extend output cuts until December – Reuters
Saudi Arabia and some other OPEC producers want to extend output cuts until December – Reuters
Saudi Arabia and some other OPEC producers want to extend the current oil output cuts of 9.7 million barrels per day until December, Reuters reported on Thursda...
Forex News 5 days ago
Kremlin: OPEC+ deal helping to avoid negative scenario on oil markets
Kremlin: OPEC+ deal helping to avoid negative scenario on oil markets
The OPEC+ output cut deal is definitely effective and it's helping to avoid a negative scenario on oil markets, a Kremlin spokesperson said on Tuesday, as repor...
Forex News 7 days ago
WTI consolidates below $34.50 amid Russia’s output cuts extension news
WTI consolidates below $34.50 amid Russia’s output cuts extension news
WTI consolidates the upside amid positive catalysts. US-China worries offset by vaccine hopes, supply cuts. Focus shifts to weekly US supply reports am...
Commodity News 7 days ago
Oil: OPEC pointed a dull outlook – ANZ
Oil: OPEC pointed a dull outlook – ANZ
Crude oil prices fell as OPEC painted a somber picture of the market amid the darkening economic backdrop, strategists at ANZ bank apprise. Key quotes “The gr...
Commodity News 3 weeks ago (05-14)
Iraq agrees with oil majors to cut output, but short of OPEC+ target – Reuters
Iraq agrees with oil majors to cut output, but short of OPEC+ target – Reuters
Amid a slew of voluntary output cuts, Reuters came out with the news that Iraq chose to follow the OPEC+ production cuts, albeit with the lesser force. Key quo...
Forex News 3 weeks ago (05-14)
WTI: Under pressure, OPEC cuts 2020 demand forecasts, US dollar on a tear
WTI: Under pressure, OPEC cuts 2020 demand forecasts, US dollar on a tear
OPEC reduced its forecast for 2020 crude demand by 2.23 million barrels a day. US dollar spikes on Fed's Powell reminding markets negative rates are not on...
Commodity News 3 weeks ago (05-14)
OPEC: World oil demand in 2020 to drop by 9.07 million bpd
OPEC: World oil demand in 2020 to drop by 9.07 million bpd
The world oil demand in 2020 is expected to fall by 9.07 million barrels per day (bpd) amid the recession caused by the coronavirus crisis, the OPEC noted in it...
Forex News 3 weeks ago (05-13)
OPEC+ wants to keep oil output cuts of 9.7 milllion bpd beyond June – Reuters
OPEC+ wants to keep oil output cuts of 9.7 milllion bpd beyond June – Reuters
OPEC and its allies, the group known as OPEC+, wants to maintain the existing oil output cuts of 9.7 million barrels per day (bpd) beyond June, Reuters reported...
Forex News 3 weeks ago (05-13)
WTI Price Forecast: Oil rises 1.5% as Saudi Arabia pledges deeper output cut
WTI Price Forecast: Oil rises 1.5% as Saudi Arabia pledges deeper output cut
WTI oil rises in Asia as major producers signal deeper cuts in June.  Saudi Arabia is willing to cut its output by further 1 million barrels per...
Commodity News 3 weeks ago (05-12)
UAE EnergyMin: Will take additional voluntary oil output cut of 100,000 bpd in June
UAE EnergyMin: Will take additional voluntary oil output cut of 100,000 bpd in June
The United Arab Emirates will lower its oil output by an additional 100,000 barrels per day (bpd) on top of agreed OPEC+ cuts in June, the country's energy...
Forex News 3 weeks ago (05-11)
Kremlin: OPEC+ deal has already helped stabilize oil prices
Kremlin: OPEC+ deal has already helped stabilize oil prices
The crude oil output cut deal reached by OPEC and non-OPEC producers (OPEC+) has already helped stabilize oil prices, Kremlin said in a statement on Thursd...
Forex News 4 weeks ago (05-08)
WTI on the rise amid output cuts
WTI on the rise amid output cuts
West Texas Intermediate crude bulls back in control.  The market should soon return to deficit conditions – TDS West Texas Intermediate crude...
Commodity News 4 weeks ago (05-06)
WTI rallies as output cuts are cheered, June eyes break of $21
WTI rallies as output cuts are cheered, June eyes break of $21
Oil was climbing on Monday on output cuts, WTI breaking and closing above $20bbls.  Geopolitical tensions being churned between China and the US. ...
Commodity News 4 weeks ago (05-05)
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