Post Tagged with: "OPEC cuts"

Source: CNBC

Oil at highest since March on lower U.S. inventories, recovering demand

CNBC


Oil prices rose on Thursday to their highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people’s movements imposed due to the coronavirus crisis.

Crude prices have slumped …

Source: Reuters

North American oil producers slash output faster than OPEC skeptics expected

Reuters


NEW YORK – North American oil companies have slashed production faster than skeptical OPEC officials and industry analysts expected, on course to cut roughly 1.7 million barrels per day by the end of June, according to a Reuters analysis …

Source: nasdaq.com

Oil set for big weekly gains as OPEC+ agrees on deeper output cuts

Reuters


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 …

December 6, 2019 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
OPEC: Too Close to Call - Oil & Gas 360

OPEC+ Cuts Oil Production and Russian Exporters Win

From Bloomberg

An alliance of countries that includes Russia is cutting oil production to end a global glut. One of the big winners: the nation’s own crude exporters.

The supply cuts from the so-called OPEC+ nations, coupled with U.S. …

April 18, 2019 - 3:19 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
OPEC+ Affirms Commitment to Oil Cuts, Defers Decision to Extend

OPEC+ Affirms Commitment to Oil Cuts, Defers Decision to Extend

From Bloomberg

Saudi Arabia led fellow members of the OPEC+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs.

A committee of the most influential members …

March 18, 2019 - 12:50 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Saudi Arabia to Extend Deep Oil Output Cuts Into April

Saudi Arabia to Extend Deep Oil Output Cuts Into April

From Bloomberg

Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed production cuts into a second month, a Saudi official familiar with the policy said.

The move is the latest sign Riyadh …

March 11, 2019 - 12:56 pm Closing Bell Story‎, Crude Oil News, Energy News
Oil Back Under $49: with OPEC Cuts Baked in, Prices Fall as Markets Expects More

Oil Back Under $49: with OPEC Cuts Baked in, Prices Fall as Markets Expects More

OPEC will keep cuts for nine more months

The Organization of Petroleum Exporting Countries announced Thursday that it will extend production cuts for nine more months, through the end of Q1, 2018.

Oil prices dropped more than 5% on Thursday …