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
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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 …
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 …
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 …
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 …
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 …
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 …
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 …
OPEC said on Thursday it expected demand for its oil to fall in 2020 as rivals pumped more despite a smaller surplus of crude in the global market, building a case for the group to maintain supply curbs when …
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.
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