LONDON -Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed U.S. inventories fell last week.
Brent crude was up 31
LONDON – Oil edged up towards $46 a barrel on Wednesday, close to its highest since March, lifted by U.S. producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a …
Oil prices erased gains on Wednesday, with Brent crude futures falling back below $40 a barrel, on doubts an early meeting of some of the world’s most powerful oil producers will go ahead as planned.
OPEC and non-OPEC allies,
DUBAI/MOSCOW – OPEC and Russia are moving closer to a compromise on extending current oil output cuts and are discussing a proposal to roll over supply curbs for one to two months, three OPEC+ sources told Reuters on Monday.…
Voluntary production cuts by OPEC members show that oil producing countries are doing what they can to stabilize the market during the ongoing coronavirus outbreak, one strategist told CNBC this week.
Saudi Arabia on Monday said it will reduce …
DUBAI – Saudi Arabia’s energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and …
MOSCOW – The global oil production deal clinched at the weekend will help to establish a price floor and help to save millions of jobs in the United States, senior Russian officials said on Monday.
Having been in a …
MEXICO CITY – President Donald Trump has “generously” agreed to cut American oil output by an additional 250,000 barrels per day to help Mexico contribute to global reductions, his Mexican counterpart said on Friday.
During marathon talks on Thursday …
Reuters
DUBAI/MOSCOW – Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove …
Oil producer group OPEC and its allies failed to comprehensively secure a deal to take a historic amount of crude off the market on Thursday, after Mexico balked at the suggested production cuts.
An energy alliance of some of
There are three big things to focus on from OPEC and the G-20 meetings over the next 48 hours: 1) total global output cut, 2) benchmark production levels for those cuts, and 3) the length of time of any
DUBAI/LONDON (Reuters) – The world’s top oil producers Saudi Arabia, Russia and the United States still seemed at odds on Wednesday before this week’s meetings on potentially big output cuts to shore up crude prices that have been hammered …
DUBAI/LONDON/MOSCOW – OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said after the U.S. president called on producers to stop the market …
Speculation is mounting that OPEC and its allies may agree to a deeper production cut at their meeting in Vienna on Thursday, but market watchers shouldn’t take any such announcement at face value.
Even a sizable “new” cut …
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 …
Source: Houston Chronicle
The biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month, according to delegates across the coalition.
The Organization of Petroleum Exporting Countries and its allies are more likely to stick …
They’re making a list, they’re checking it twice, but will oil producers be naughty or nice?
When the Organization of the Petroleum Exporting Countries and its nonmember allies, or “OPEC+,” met in Vienna early last …
