OPEC

Source: Reuters

OPEC leaning towards larger oil cuts as virus hits prices, demand: sources

Reuters


LONDON – Several key OPEC members are leaning towards a bigger than previously expected oil output cut, four sources with knowledge of the talks said, as oil prices fell to $50 per barrel on fears the coronavirus outbreak will …

February 28, 2020 - 10:30 am
Source: Houston Chronicle

Oil slips for 3rd day as virus fears outweigh supply cuts

Reuters


LONDON – Oil slipped towards $56 a barrel on Tuesday, falling for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.

Crude fell …

February 25, 2020 - 12:00 pm
Source: Reuters

Russia: oil producers agree no need to hold early OPEC+ meeting

Reuters


MOSCOW – Russian Energy Minister Alexander Novak said on Thursday there was a common understanding among global oil producers that it would now no longer make sense for OPEC and non-OPEC producers to meet before their planned gathering in …

February 20, 2020 - 2:00 pm
Source: Reuters

Oil up on slowing pace of coronavirus, Venezuela sanctions

Reuters


LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from …

February 19, 2020 - 10:00 am
Source: Reuters

Russia says it needs more time to decide on any OPEC oil output cut

Reuters


MINERALNYE VODY, Russia – Russia said on Friday it needed more time to decide whether to join any additional oil output cut by OPEC, saying U.S. crude production growth would slow and global demand remained solid.

Energy Minister Alexander …

February 7, 2020 - 1:00 pm
Source: CNBC

Russia’s reluctance for a production cut exposes possible crack in three-year-old OPEC alliance

CNBC


Russia’s reluctance to jump on board a bigger OPEC production cut may signal a potential fissure within the oil producer alliance, known as OPEC plus.

Led by Saudi Arabia, other OPEC producers and Russia were considering an emergency meeting …

February 6, 2020 - 12:00 pm
Source: Houston Chronicle

OPEC+ in second day of talks as Saudis push for emergency cut

Houston Chronicle


OPEC+ officials gathered in Vienna for a second day of debate on the impact of the coronavirus, a process that could result in an emergency ministerial meeting where Saudi Arabia would push for an oil-production cut.

The price …

February 5, 2020 - 10:00 am
Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.

Brent crude was up 93 cents, or 1.7%, …

February 4, 2020 - 11:00 am
Trial production from Al-Khafji oil field to start soon

Trial production from Al-Khafji oil field to start soon

Arab News



KUWAIT CITY: Saudi Arabia and Kuwait have started preparation work to resume crude oil production from the Al-Khafji oil field jointly operated by the two countries, with initial output expected around the end of February, two industry sources …

February 2, 2020 - 9:25 pm
Source: Houston Chronicle

Oil heads for biggest monthly loss since May

Houston Chronicle


Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink.

Futures were little changed in New York on Friday, after sliding to a five-month low on …

January 31, 2020 - 2:00 pm
Source: Reuters

Saudi Arabia opens talks on possible February OPEC+ meeting after oil price slide

Reuters


LONDON/MOSCOW/DUBAI  – Saudi Arabia has opened talks with OPEC and allied oil producers about moving their upcoming OPEC+ policy meeting to early February from March, four OPEC+ sources said, after a swift slide in oil prices alarmed Riyadh.

Worries …

January 30, 2020 - 3:30 pm
Source: CNBC

OPEC’s waning influence laid bare as coronavirus outbreak hammers oil prices, analysts say

CNBC


OPEC’s battle to support oil prices as China’s coronavirus spreads internationally shows the producer group is struggling to wield the same influence over global crude markets, energy analysts have told CNBC.

It comes amid speculation that OPEC and non-OPEC

January 29, 2020 - 12:00 pm
Source: Reuters

Oil mixed as virus fears offset by talk of OPEC cut extension

Reuters


NEW YORK – Oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support.…

January 29, 2020 - 11:00 am
Source: Reuters

OPEC president sees little impact from coronavirus on oil market: APS

Reuters


ALGIERS – OPEC president Mohamed Arkab said on Monday he expects an outbreak of coronavirus in China to have little impact on the global oil market for now, but added that producers were ready to react to any new …

January 27, 2020 - 11:30 am
Opec ready to act as coronavirus hits oil price: Update

Opec ready to act as coronavirus hits oil price: Update

Argus


Adds comments from Opec source and updates China imports total

Dubai, 27 January (Argus) — Concern about the potential impact of the Chinese coronavirus outbreak on oil demand is putting mounting pressure on crude prices, outweighing Libyan supply disruptions …

January 27, 2020 - 7:24 am
Source: Reuters

Petrobras to price its largest share offering in a decade on Feb. 5

Reuters


SAO PAULO (Reuters) – Brazil’s Petrobras will price its largest share offering in a decade on Feb. 5, it said in a securities filing on Wednesday, through which development bank BNDES will seek to divest part of its stake …

January 22, 2020 - 1:30 pm
South Korea sending troops to Strait of Hormuz

South Korea sending troops to Strait of Hormuz

South Korea sending troops to Strait of Hormuz

January 21, 2020 - 2:04 am
Source: Reuters

Oil rises as Libya declares force majeure in oilfields

Reuters


LONDON – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a …

January 20, 2020 - 10:00 am
Aramco raises $29.4B in world’s biggest initial public offering

Aramco raises $29.4B in world’s biggest initial public offering

Aramco raises $29.4B in world’s biggest initial public offering

January 12, 2020 - 10:15 am
OPEC to maintain output quota as oil prices slide to $65 per barrel

OPEC to maintain output quota as oil prices slide to $65 per barrel

Energy Mix


Oil prices yesterday dropped lower than the week’s opening price, as Brent slipped to $64.63 and WTI, $58.80 while Nigeria’s Bonny Light was $67.58 as at 4.27pm GMT.

OPEC to maintain output quota as oil prices slide to $65 per barrel -oilandgas360The Organisation of the Petroleum Exporting Countries (OPEC), trimmed its …

January 10, 2020 - 10:26 am
Source: Reuters

Sempra LNG And Aramco Services Company Sign Interim Project Participation Agreement For Port Arthur LNG

Sempra LNG And Aramco Services Company Sign Interim Project Participation Agreement For Port Arthur LNG

January 6, 2020 - 6:50 am
Source: CNBC

‘Big uncertainty’ over US oil output in 2020 will be critically important to oil prices, analysts say

CNBC


The question of how much crude U.S. producers may be able to add this year could be pivotal for oil prices in 2020, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months.

Speaking …

January 2, 2020 - 3:30 pm
Source: Houston Chronicle

OPEC output falls as Gulf nations step up delivery of oil cuts

Houston Chronicle


OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.

Saudi Arabia, Iraq and the United Arab Emirates reduced production in December, the final month of …

January 2, 2020 - 3:00 pm
Source: Reuters

Oil steady as trade hopes, Mideast tensions support, dollar weighs

Reuters


NEW YORK – Oil prices were flat on Thursday, supported by signs of improving Washington-Beijing trade relations and rising tensions in the Middle East but pressured by a strong U.S. dollar.

Brent crude futures LCOc1 were unchanged at $66.00 …

January 2, 2020 - 2:00 pm
Image courtesy of LNG Croatia

2019 Rewind: Year of FIDs

LNG World News


The year 2019 got into its stride quickly in terms of final investment decisions as LNG Croatia, the state-owned company has sanctioned the construction of the floating liquefied natural gas terminal on the Island of Krk

January 2, 2020 - 11:05 am
Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018. -

‘Big uncertainty’ over US oil output in 2020 will be critically important to oil prices, analysts say

CNBC


The question of how much crude U.S. producers may be able to add this year could be pivotal for oil prices in 2020, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months.

Speaking …

January 2, 2020 - 10:30 am
Source: Reuters

Oil analysts bet on modest price gains in 2020 as supply shrinks

Reuters


Oil prices are likely to hover around $63 a barrel next year, a Reuters poll showed on Tuesday, benefiting from deeper production cuts by OPEC and its allies, and hopes that a U.S.-China trade deal could jumpstart economic growth.…

December 31, 2019 - 1:00 pm
Source: Houston Chronicle

Oil set for strongest year since 2016 on OPEC cuts, trade truce

Houston Chronicle


Oil in New York headed for its biggest annual increase since 2016, as OPEC’s production cuts tempered supplies while a trade pact between the U.S. and China buoyed the outlook for demand.

West Texas Intermediate futures have climbed …

December 31, 2019 - 11:00 am
Russian Oil Minister Alexander Novak (right) speaks to his Saudi Arabian counterpart Prince ... Getty Images

Is Russia hinting OPEC+ discipline could crack in 2020?

Forbes


There have always been question marks over how OPEC and non-OPEC oil producers would exit their strategy of joint production cuts that have been in place since December 2016, in some form or the other with the participation of …

December 29, 2019 - 7:59 pm
Oil rises following larger-than-expected drop in US crude inventories

Oil rises following larger-than-expected drop in US crude inventories

CNBC


Oil prices moved higher on Friday following a larger-than-expected drop in U.S. crude inventories, although gains were capped as Russia downplayed output cuts.

Oil rises following larger-than-expected drop in US crude inventories -oilandgas360

Brent crude futures gained 23 cents to trade at $68.15 per barrel, its highest level since mid-September. …

December 27, 2019 - 1:38 pm