Aramco soars in debut to hit market value of $1.88 trillion
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 …
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 …
Saudi Arabia and Russia led a deal on Friday in which OPEC and its allies committed to deeper oil output cuts in the first quarter of 2020 aiming to avert oversupply and support prices.
The group of more than …
NEW YORK – Oil prices rose on Friday and were on track for weekly gains as a meeting of OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.
The additional cuts …
Saudi Arabia and Russia spearheaded a deal on Friday in which OPEC and its allies committed to some of the deepest oil output cuts this decade aiming to avert oversupply and support prices.
The group of more than 20 …
VIENNA/LONDON – OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to prevent oversupply in a deal that will apply for an unexpectedly short period of the first three months of …
LONDON – Oil prices rose on Thursday on expectations OPEC and allied oil producers will deepen output cuts in an effort to prop up prices and prevent a glut next year.
A ministerial panel of key OPEC members and …
MOSCOW/VIENNA – OPEC and its allies led by Russia are gearing up to approve deeper oil production cuts this week to prevent a new glut and a collapse on oil prices with OPEC member Iraq saying the move was …
Oil gained as the U.S. and China were moving closer to a trade deal and before OPEC+ decides on its output-cut policy later this week.
Futures added as much as 1.8% in New York. The U.S. and China …
Goldman Sachs said on Monday the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely extend its current output curbs through June, but expects the “uneventful” three-month extension to provide little support to prices.
OPEC and …
Crude oil prices are expected to plunge to $40 a barrel in 2020 unless OPEC and Russia agree to deepen – and not just extend – their production cuts, according to a new report from the Norwegian research …
DUBAI/LONDON/MOSCOW – OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the …
NEW YORK – Oil futures gained over 1% on Monday on hints the Organization of the Petroleum Exporting Countries (OPEC) and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity …
MOSCOW/LONDON – Russia is likely to call on fellow oil producers to change the way Moscow’s output is measured when most of the world’s biggest oil-producing nations meet next month in Vienna, Russian and OPEC sources say.
For three …
LONDON – Oil steadied above $64 a barrel on Wednesday as an industry report showing a surprise boost in U.S. crude inventories was offset by optimism about a U.S.-China trade deal being agreed soon.
Oil industry group the American …
OSLO – OPEC countries, which are meeting next week to discuss their level of oil output, should make the right decision for the global economy, which remains “very fragile”, the head of the International Energy Agency told Reuters on …
LONDON – Oil fell for a second day on Tuesday, dropping below $62 a barrel on limited progress toward resolving the U.S.-China trade dispute, higher than expected Norwegian oil output and forecasts of rising U.S. crude inventories.
A Chinese …
NEW YORK – Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices.
Benchmark Brent crude rose $1.04, or 1.7%, …
LONDON- The Organization of the Petroleum Exporting Countries and its allies face stiffening competition in 2020, the International Energy Agency said on Friday, adding urgency to the oil producer group’s policy meeting next month.
“The OPEC+ countries face a …
Russian President Vladimir Putin said on Thursday that Saudi Arabia was taking a tough stance on the output deal between OPEC and its allies because of Saudi Aramco’s initial public offering, but that Moscow respected Riyadh’s interests.
Speaking to …
Oil prices edged up on Wednesday after the Organization of the Petroleum Exporting Countries said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.
Also supporting …
Saudi Arabia Oil and Gas Market, Size, Share, Outlook and Growth Opportunities 2020-2026 – ResearchAndMarkets.com
…The downturn that may ensue if OPEC doesn’t redouble its efforts could be acutely painful for many of the cartel’s members.
With their next meeting just weeks away, OPEC and its partners are showing no impetus for …
Mega-IPOs have a record of causing technical glitches on stock markets as they can lead to a surge in trading orders that swamp an exchange’s system and can prevent investors from buying or selling stock.
RIYADH/DUBAI ( …
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.
The Organization …
Source: Reuters
LONDON (Reuters) – OPEC oil output has bounced in October from an eight-year low as a rapid recovery in Saudi Arabian production from attacks on oil plants more than offset losses in Ecuador and voluntary curbs under a …
Source: Houston Chronicle
Oil declined for a second day on expectations of rising inventories at a key pricing point in Oklahoma.
Futures in New York fell as much as 1.4% after dropping 1.5% Monday. Genscape Inc. said oil stored at …
Source: Reuters
NEW YORK (Reuters) – Oil prices eased on Monday after four days of gains as worries about weak Chinese industrial data offset hopes oil demand will rise as talks progress on a Sino-American trade deal.
Brent futures were …
Source: Reuters
LONDON (Reuters) – Oil prices eased on Friday but were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible action from OPEC and its allies to extend output cuts outweighed …