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Organisation of the Petroleum Exporting Countries News
Organisation of the Petroleum Exporting Countries
Strong start to summer driving season pushes U.S. oil towards $50
Tue, May 30, 2017
U.S. crude oil prices rose towards $50 per barrel on Tuesday as a strong start to the summer driving season in the United States suggested strong fuel demand in months ahead.
Saudi Arabia's crude exports to US to fall by 300,000 barrels per day in March: Official
Fri, Mar 24, 2017
An Energy Ministry official from Saudi Arabia has said on Thursday that the country`s crude exports to the United States (US) in March will fall by around 300,000 barrels per day from February, in line with OPEC`s agreement to reduce supply.
OPEC could extend or deepen supply cut if oil glut persists: Sources
Fri, Feb 17, 2017
The organisation of petroleum exporting countries (OPEC) could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level.
OPEC figures show over 90% compliance with supply cut: Sources
Fri, Feb 10, 2017
The Organisation of the Petroleum Exporting Countries (OPEC) has delivered more than 90% of pledged oil output curbs in January whereby making a strong start to implementation of its first production cut in eight years.
OPEC oil output inches down after November deal
Wed, Jan 18, 2017
OPEC oil production fell in December but remains well above levels envisaged under a recent deal due to take effect from January, the cartel`s new monthly report showed on Wednesday.
Oil prices dip on surging Iran sales, but looming OPEC deal offers support
Tue, Oct 04, 2016
Oil prices dipped early on Tuesday, weighed down by a rise in Iranian exports that adds to a global supply overhang, although a planned OPEC-led supply cut later this year has lent crude some support.