Post Tagged with: "Oil Cuts"

Source: Reuters

Oil holds near five-month high on U.S. output cuts, virus concern weighs

Reuters


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 …

Source: CNBC

Oil falls below $40 on doubts early OPEC+ meeting will go ahead this week

CNBC


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,

Source: Reuters

OPEC, Russia discuss extending oil cuts for 1-2 months: sources

Reuters


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.…

Source: CNBC

Saudi Arabia’s latest oil production cuts show it is back in ‘whatever it takes’ mode, strategist says

CNBC


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

Source: Reuters

Saudi energy minister says effective global oil cuts above 19 million bpd

Reuters


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 …

Source: Reuters

OPEC+ deal saved ‘more than 2 million’ jobs in the US, says Russia’s sovereign wealth fund chief

Reuters


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 …

Source: Reuters

Mexico says Trump agreed to help it meet global oil cut target

Reuters


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 …

April 10, 2020 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Mexico, OPEC
Source: Reuters

Saudi, Russia seek to finalise oil cuts in G20 talks, want U.S. involved

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 …

Source: CNBC

Mexico throws OPEC’s historic oil production cut into doubt ahead of G-20 meeting

CNBC


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

April 10, 2020 - 9:08 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico, OPEC
Source: CNBC

These are the three big things to focus on from OPEC and the G-20 meetings over the next 48 hours

CNBC


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

April 9, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

World’s biggest oil producers still at odds before talks on major cuts

Reuters


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 …

Source: Reuters

OPEC+ debates biggest-ever oil cut as virus destroys demand

Reuters


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 …

April 3, 2020 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source; Houston Chronicle

If OPEC+ announces a new cut, it may not be what it seems

Houston Chronicle


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 …

Source: Reuters

OPEC, Russia debate deeper oil cuts as new glut looms

Reuters


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 …

December 4, 2019 - 1:00 pm Closing Bell Story‎, Energy News, International, OPEC
Source: Houston Chronicle

Biggest OPEC+ producers aren’t pushing for deeper cuts

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 …

Oil Market Will Test OPEC’s Newfound Credibility

Oil Market Will Test OPEC’s Newfound Credibility

From The Wall Street Journal

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 …

January 21, 2019 - 5:43 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC