Opec deal hinged on 2am phone call and it failed

2016-12-02 08:53

After months of meetings from Doha to Moscow, it was a morning phone call between two of the most powerful men in the global oil industry that finally broke the impasse.

Opec decision day rouses new optimism

2016-11-30 11:35

After weeks of often tense negotiations, Opec ministers are meeting in Vienna on Wednesday to try and salvage a deal to cut oil production and prop up global prices.

OPEC to remain split as Russia won't attend meeting

2016-11-29 10:53

OPEC officials have failed to make an agreement to cut production and revive oil prices, while Russia said it’s not planning to attend crucial talks on Wednesday.

OPEC’s latest headache: Russian reluctance to cut oil output

2016-11-24 12:50

For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it.

Oil investors shrug off US election with focus on OPEC

2016-11-15 09:01

Oil investors seem to be the only ones uninterested in Donald Trump’s election.

OPEC raises oil-demand forecast on outlook for cheaper crud

2016-11-08 12:34

OPEC has raised its forecast for global oil demand next year and through the end of the decade, anticipating that cheaper crude will spur consumption as economic growth slows.

Oil trades near 3-week low as OPEC deal faces 'stumbling blocks'

2016-10-27 14:56

Oil has traded near a three-week low below $50 a barrel as traders remained sceptical that OPEC will manage to curtail production following its surprise deal in Algiers last month.

$60 oil 'not unthinkable' by year-end - Saudi

2016-10-10 12:16

Saudi Arabia says it is "not unthinkable" that the price of crude oil could be $60 a barrel by the end of the year, but warned against drastic production cuts.

Oil rises to three-month high as investors asses OPEC agreement

2016-10-03 14:21

Oil has climbed to the highest level in three months in New York as traders continued to assess last week’s change in OPEC policy.

OPEC deal fails to cheer Saudi stocks

2016-09-29 10:16

Saudi Arabian stocks have swung between gains and losses as investors weighed the prospect of the kingdom being sued for its alleged involvement in the September 11 attacks.


Opec confounds skeptics, agrees to first oil cuts in 8 years

2016-12-01 06:52

Opec has confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years

Oil deal D-Day: Opec deadlock threatens plan

2016-11-30 08:30

An Opec deal to curtail oil production and prop up global prices appears in jeopardy as Iran says it won’t make cuts while Saudi Arabia insisted Tehran must play a role.

Opec pushes for oil deal as Saudis open door for no output cut

2016-11-28 07:33

Opec is embarking on a last-ditch diplomatic push to reach a production cut, with ministers flying to Russia for talks, as Saudi Arabia for the first time suggested the oil-club doesn’t necessarily need to curb output.

'Opec to agree details of oil-supply cuts'

2016-11-22 18:45

The Opec is on course to finalise the details of the Algiers accord to cut oil production, says a delegate from Nigeria.

OPEC says climate effort won't quench oil thirst

2016-11-09 22:23

A global pact to battle global warming entered into force last week, but the latest long-term look into the energy market by the OPEC oil cartel sees climate change measures failing.

OPEC, non-oil cartel members discuss production cuts

2016-10-30 14:41

OPEC officials held talks with Russia and other non-cartel members Saturday in Vienna to debate how to implement a plan aimed at cutting oil output to reduce a global supply glut and bolster prices.

Nigeria expects 22% jump in oil output

2016-10-17 15:15

Opec member Nigeria expects its oil production rate to jump by 22% by the year-end to 2.2 million barrels per day from current levels, its oil minister says.

Iran will sign landmark oil contract

2016-10-04 09:56

Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, will accelerate the rejuvenation of its sanctions-ravaged energy industry.

Russia plays wait and see on oil freeze

2016-10-02 15:00

Russia is waiting to see the details of Opec's surprise agreement to cut oil output before deciding on any freeze to its own production.

OPEC may finally be willing to curb oil glut, but not yet

2016-09-26 14:45

After two years of pumping without limits, OPEC may finally be ready to do something to shrink the global glut. Just not quite yet.

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