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The cartel needs to be more honest about the implications of its drive to keep crude prices high. By Javier Blas The best scandals are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC+ oil cartel has said publicly what many thought privately — the …
The Wrong Oil Price Is Truthfully a Problem for OPEC+ Read More »
(Reuters) – The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to Dec. 5 from Dec. 1 to avoid a conflict with another event, OPEC said on Thursday. A summit of Gulf Arab countries is due to be held in Kuwait City on Dec. 1 which several OPEC+ ministers plan …
By Maha El Dahan, Alex Lawler and Vladimir Soldatkin Iraqi, Saudi, Russian officials hold meeting in Iraq Talks come ahead of Sunday’s OPEC+ meeting Azerbaijan says OPEC+ might consider oil cuts rollover DUBAI/LONDON/MOSCOW, Nov 26 (Reuters) – OPEC+ nations are discussing a further delay to a planned oil output hike that was due to start …
OPEC+ Discusses Further Delay to Oil Output Hike, Sources Say Read More »
(Reuters) – OPEC is unlikely to unwind voluntary production cuts in the short term, executives of global commodity trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Forum in London on Tuesday. OPEC+ is discussing a further delay to a planned oil output hike that was due to start in January, two sources …
OPEC Unlikely to Raise Production in Short Term, Commodity Trading Bosses Say Read More »
By Alex Lawler Makes fourth cut in 2024 oil demand growth forecast Cuts view on Chinese demand growth to 450,000 bpd IEA to publish updated forecasts on Thursday LONDON, Nov 12 (Reuters) – OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other …
OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts Read More »
(Reuters) – The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu Dhabi on Monday. “There are some challenges, but the picture is not as negative as some make it sound,” …
OPEC Positive on Global Oil Demand, Sees No Peak on Horizon Read More »
(Reuters) – OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said on Monday. Speaking at an industry event in Abu Dhabi, Claudio Descalzi said he expected high volatility in the energy markets experienced in …
By Alex Lawler, Olesya Astakhova and Dmitry Zhdannikov Output hike of 180,000 bpd due to proceed in December Decision on delay could come as soon as early next week Sources cite concern about economic backdrop and demand LONDON/MOSCOW, Oct 30 (Reuters) – OPEC+ could delay December’s planned increase to oil production by a month or …
OPEC+ Could Delay December Oil Output Hike, Sources Say Read More »
MOSCOW, Oct 2 (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Wednesday that oil prices have increased as markets do not rule out a decline in oil supply due to the conflict in the Middle East. In televised comments after a meeting of top OPEC+ ministers kept oil output policy unchanged, including a …
Russia’s Novak Says Market Wary of Oil Supply Cuts Due to Middle East Conflict Read More »
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country’s facilities but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbours. Iran fired hundreds of missiles at Israel on Tuesday in response to Israeli airstrikes and attacks. Israel’s …
OPEC+ Could Cushion Iran Oil Shock But Not Broader Disruption Read More »
