OPEC

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 …

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 China, Closing Bell Story‎, Crude Oil News, Energy News, OPEC
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

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.…

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 …

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 Closing Bell Story‎, Crude Oil News, Economy, International, OPEC
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 …

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 Marine Shipping, OPEC, Politics & Opinions, Press Releases
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 …

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

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 Closing Bell Story‎, Crude Oil News, International, OPEC
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 Crude Oil News, International, OPEC, Press Releases
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 …

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 …

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 …

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 Closing Bell Story‎, International, LNG, Offshore, OPEC
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.…

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 China, Closing Bell Story‎, Crude Oil News, Energy News, OPEC
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 Crude Oil News, International, OPEC, Politics & Opinions
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 Closing Bell Story‎, Crude Oil News, International, OPEC
Kuwaiti Oil Minister Khaled al-Fadhel (R) and Saudi Oil Minister Prince Abdulaziz bin Salman (L) speak during a ceremony marking the signing of an agreement to reproduce oil in the neutral zone between Kuwait and Saudi Arabia, at Wafra about 100 kilometres south of Kuwait City on Dec. 24, 2019. (YASSER AL-ZAYYAT/AFP via Getty Images)

Saudi Arabia and Kuwait end dispute over shared oil fields, deal benefits Chevron

NTD


Saudi Arabia and Kuwait signed an agreement on Dec. 24 that ended a five-year-old dispute over two shared oil fields in neutral territory. The deal is likely to benefit American oil giant Chevron.

The agreement that divides the neutral …

The agreement is likely to be seen as the latest victory for Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, center.Credit...Ronald Zak/Associated Press

Saudi Arabia and Kuwait settle dispute over oil fields

NYT


The agreement over a shared region could bring more oil to the global market and benefit Chevron.

 

Saudi Arabia and Kuwait said Tuesday that they were ending a long-running dispute over oil fields in a strip of land …

Saudi Aramco CEO Amin Nasser Leads ICIS Top 40 Power Players 2019 Ranking

Saudi Aramco CEO Amin Nasser Leads ICIS Top 40 Power Players 2019 Ranking

Saudi Aramco CEO Amin Nasser Leads ICIS Top 40 Power Players 2019 Ranking

December 20, 2019 - 5:00 am International, OPEC, People, Press Releases
Source: Reuters

Oil hovers near three-month highs on trade progress, lower inventories

Reuters


LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China.

Brent crude futures were up 19 cents at $66.36 a barrel at 1447 …

Source: Houston Chronicle

Oil touches $61 for first time in 3 months as optimism abounds

Houston Chronicle


Oil briefly touched $61 a barrel for the first time in three months as strengthening outlooks for manufacturing and trade buoyed demand prospects.

Futures closed 1.2% higher on Tuesday in New York, just 6 cents shy of the …

Source: Reuters

JP Morgan raises 2020 oil price view on OPEC+ cuts, improved economic outlook

Reuters


JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets.

The investment bank …

Source: Reuters

Oil nears three-month high as trade hopes, UK election lift sentiment

Reuters


NEW YORK – Oil rose on Friday to its highest in nearly three months as investors cheered progress in resolving the U.S.-China trade dispute and a decisive general election result in Britain.

China’s Vice Finance Minister said the first …

December 13, 2019 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, International, OPEC
Source: Houston Chronicle

Oil rebounds though outlook remains clouded by oversupply

Houston Chronicle


Oil rebounded from the previous session’s loss, though the outlook remained clouded by rising U.S. stockpiles and concern that OPEC and its allies aren’t taking enough action to balance the market.

Futures added 0.6% to trade near $59 …

Source: Reuters

OPEC sees small 2020 oil deficit even before latest supply cut

Reuters


LONDON – OPEC on Wednesday pointed to a small deficit in the oil market next year due to restraint by Saudi Arabia even before the latest supply pact with other producers takes effect, suggesting a tighter market than previously …

December 11, 2019 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, International, OPEC
Amin Nasser, chief executive officer of Saudi Aramco, center left, and Yasir Al-Rumayyan, chairman of Saudi Aramco, center right, during the Aramco IPO event in Riyadh, on Dec. 11.Source: Saudi Arabian Oil Co.

Aramco soars in debut to hit market value of $1.88 trillion

Bloomberg


– Aramco is world’s largest after $25.6 billion stock sale

Saudi Aramco shares surged after the oil producer’s initial public offering, valuing the company at a record $1.88 trillion in the culmination of a four-year effort by the kingdom …

December 11, 2019 - 7:20 am Closing Bell Story‎, Economy, Energy News, International, OPEC