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The Organisation of Petroleum Exportig Countries (OPEC’s) crude oil production fell by another 246,000 barrels per day (bpd) last month compared to June.
The Organisation of Petroleum Exporting Countries (OPEC) is seeking an early resolution between the United States (U.S.) and Iran and Venezuela.
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to extend oil-supply cuts until March 2020, three sources from OPECtold Reuters news agency, as the group's members overcame their differences in order to prop up the price of crude amid a weakening global economy and soaring United States production.
Major oil-producing countries meet in Vienna on July 1 and 2, the OPEC website and a delegate said Wednesday after the biannual gathering had been postponed several times.
The Organisation of Petroleum Exporting Countries (OPEC) is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of he month, Saudi Arabia Energy Minister, Khalid al-Falih, said at the weekend.
Oil price hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that had helped boost prices this year.
Russia’s president Vladimir Putin hopes Saudi Arabia does not begin to reverse the production cuts agreed in December to fill the gap of Iranian oil on global markets. Responding to a question on the sidelines of an investment event in Beijing, Putin said “I hope this does not happen in the end - but theoretically speaking, we have agreements under OPEC+,” as quoted by Reuters.
LONDON (Bloomberg) -- After managing to revive oil prices through production cutbacks, OPEC now risks squandering its victory again by letting crude surge too...
Organisation of the Petroleum Exporting Countries (OPEC), has forecast a much tighter market in 2019, and has seen its production fall significantly this year,...
Oil hit a five-month high above 71 dollars a barrel on Tuesday, supported by concern that violence in Libya could further tighten supply already...