Post Tagged with: "OPEC"

Source: Reuters

Analysis: Inside OPEC, views are growing that oil’s rally could be prolonged

Nasdaq


LONDON, Jan 18 – Oil’s rally may extend further in the next few months due to recovering demand and limited capacity in OPEC+ to add supply and prices could break $100 a barrel, OPEC officials have told Reuters.

Oil …

Source: World Oil

Russia missing OPEC targets as some members struggle to keep pace

World Oil


MOSCOW (Bloomberg) –Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling to ramp up even as fuel …

January 18, 2022 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

OPEC targeting oil prices below $100, Oman’s oil minister says

World Oil


LONDON (Bloomberg) –OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said.

The Organization of Petroleum Exporting Countries …

Source: CNBC

OPEC+ agrees oil output hike from February as omicron Covid cases soar

CNBC


An influential group of some of the world’s largest oil producers agreed on Tuesday to stick to its planned increase in oil production from February as energy investors weigh the potential impact of soaring omicron Covid cases.

OPEC and …

Source: Reuters

OPEC to meet on Monday to discuss new top official – sources

Reuters


LONDON  – OPEC ministers are due to hold a meeting on Monday to discuss the appointment of a new secretary general, two OPEC sources said, with Kuwait’s candidate for the job holding widespread support from the group.

Haitham al-Ghais,

January 3, 2022 - 1:30 pm Closing Bell Story‎, Energy News, OPEC, People
Source: Reuters

OPEC+ expected to stick with planned Feb output increase, sources say

Nasdaq


LONDON/MOSCOW, Jan 3 – OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the Omicron coronavirus variant, three sources from the …

Source: Reuters

OPEC, EIA, IEA each have different 2022 oil demand forecasts

World Oil


LONDON (Bloomberg) –Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls in …

Source: Reuters

OPEC+ output hike gamble pays off as oil prices recover

Nasdaq


LONDON, Dec 9 – The gamble taken by OPEC and its allies, under pressure from top oil consumer the United States, to raise oil output in January despite its own forecasts of oversupply, appears to be paying off as …

Source: Reuters

OPEC to proceed with plans to increase January oil output

World Oil


(Bloomberg) –OPEC and its allies agreed to proceed with their next oil-production hike, while signaling they could revisit the decision at any moment as the risk to demand from the omicron variant of Covid-19 becomes clearer.

The group …

Source: Reuters

OPEC to review potential of latest Covid variant this week

World Oil


MOSCOW (Bloomberg) – OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited.

The comments on …

Source: Reuters

China so far non-committal to Washington’s oil release, OPEC+ unmoved

Reuters


BEIJING/LONDON/MOSCOW/WASHINGTON -China, the world’s largest crude importer, was non-committal about its intentions to release oil from its reserves as requested by the United States, while OPEC producers were not considering changing tactics in light of the U.S. action, according …

Source: CNBC

OPEC members Saudi Arabia, Russia consider pausing oil production increases -WSJ

CNBC


LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year.

OPEC and its non-OPEC partners, an energy

Source: World Oil

ADIPEC: Oxy’s Hollub wants Biden to stop hectoring OPEC and focus on U.S. oil

World Oil


ABU DHABI (Bloomberg) – The world’s biggest oil and gas companies and many OPEC+ energy ministers are meeting in Abu Dhabi this week for the ADIPEC conference — one of the first major in-person events for the industry …

Source: Bloomberg

OPEC focusing on steady crude supply, not prices, Iraq’s oil minister says

World Oil


(Bloomberg) – OPEC+ is focused on ensuring a steady supply of crude to global markets and isn’t targeting a specific price, Iraqi Oil Minister Ihsan Abdul Jabbar said Thursday.

The producer group aims to add all of the …

Source: Reuters

Column: Seasonal weakness could take some heat out of oil prices

Nasdaq


LONDON, Nov 11 – Oil prices are expected to stabilise near current levels over the next few months, then decline progressively over the course of next year, according to the latest forecasts from the U.S. Energy Information Administration.

The …

November 11, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

OPEC says high prices to dampen pace of oil demand recovery

Nasdaq


LONDON, Nov 11 – OPEC on Thursday cut its world oil demand forecast for the last quarter of 2021 as high energy prices curb the recovery from COVID-19, delaying the timeline for a return to pre-pandemic levels of oil …

Source: Reuters

Oil rises after OPEC+ rebuffs U.S. call to boost output

Reuters


LONDON – Oil prices rose towards $81 a barrel on Friday after OPEC+ producers rebuffed a U.S. call to raise supply to cool the market, sticking to plans for a gradual increase in output after cuts made in the …

Source: thehill.com

OPEC ignores Biden’s plea, formalizes December oil output plan

World Oil


(Bloomberg) –OPEC and its allies will stick to their slow pace of oil-production increases, disregarding U.S. President Joe Biden’s demand to go faster.

After a brief meeting on Thursday, the group approved a 400,000 barrel-a-day production hike for …

Source: Reuters

OPEC+ likely to stick to oil output plan, sources say

Nasdaq


LONDON, Nov 4  – OPEC and its allies are likely to stick to plans to raise oil output by 400,000 barrels per day (bpd) at an OPEC+ meeting on Thursday, sources said, despite calls from the United States for …

Source: Reuters

Oil prices tumble as U.S. intensifies pressure on OPEC for more crude

World Oil


(Bloomberg) –Oil fell as the U.S. intensified pressure on OPEC+ to boost supplies when it meets on Thursday, while concerns grew that tighter policy from the Federal Reserve will impede growth.

West Texas Intermediate futures sank 2.4% after …

Source: Reuters

Oil falls to $84 before U.S. inventories and OPEC+ meeting

Reuters


LONDON – Oil fell further below $85 a barrel on Tuesday, but it was still not far from a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories and …

Source: Reuters

Energy topped the S&P 500 again in October. Here’s where the trade heads next

CNBC


Energy led the markets for another month.

The second-best S&P 500 performer, just behind consumer discretionary, rose 10% in October and added to a 52% gain for the year.

Industry heavyweights Chevron and Exxon both reported better-than-expected profits on

Source: Reuters

OPEC rejects Biden’s call for more oil

World Oil


(Bloomberg) –OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices.

On Monday, Kuwait said the cartel should stick …

Source: CNBC

Saudi Aramco posts 160% rise in third-quarter profit, chairman calls for ‘stable’ energy transition

CNBC


DUBAI, United Arab Emirates — Saudi Arabia’s oil giant Aramco has posted a 158% increase in third quarter net income to $30.4 billion, as the world’s largest oil companies continue to benefit from the reopening of the global economy

Source: Reuters

COLUMN-OPEC+ comfortable with rising price trend: Kemp

Nasdaq


LONDON, Oct 26 – Rejecting calls from consuming countries for faster output increases, OPEC+ has warned about continuing risks posed by the coronavirus pandemic and a forecast rise in oil inventories next year.

OPEC+ is currently raising its production …

Source: Reuters

OPEC misses crude output targets, straining global oil supply

World Oil


(Bloomberg) –OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic.

OPEC+ cut its production 15% deeper than planned in …

Source: World Oil

OPEC credits its oversight with preventing oil price chaos

World Oil


While crude has jumped to a three-year high …

Source: Reuters

Saudis cut oil prices after OPEC+ restraint fuels rally

World Oil


(Bloomberg) –Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases.

State firm Saudi Aramco’s cuts for customers in Asia, …

Source: CNBC

OPEC+ sticks to plan for gradual oil output hike, price roars higher

CNBC


OPEC+ agreed on Monday to stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November, despite consumer calls for more crude and surging prices that threaten an economic recovery from the pandemic.…