Post Tagged with: "OPEC production cuts"

Source: CNBC

Brent crude will need to work through oversupply issues despite the OPEC+ output cut, says analyst

CNBC


Brent crude needs to work through its oversupply issues before it can punch through its current price range of between $40 and $50 per barrel, according to Thom Payne, director at Westwood Global Energy Group.

That’s despite the latest …

Source: Reuters

Special Report: Trump told Saudis: Cut oil supply or lose U.S. military support – sources

Reuters


WASHINGTON/LONDON/DUBAI – As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.

In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman …

Source: CNBC

Russia’s reluctance for a production cut exposes possible crack in three-year-old OPEC alliance

CNBC


Russia’s reluctance to jump on board a bigger OPEC production cut may signal a potential fissure within the oil producer alliance, known as OPEC plus.

Led by Saudi Arabia, other OPEC producers and Russia were considering an emergency meeting …

Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.

Brent crude was up 93 cents, or 1.7%, …