Trump tweets, Saudis scramble: Here's how the US steers OPEC

2018-07-01 19:00

The US isn’t a member of OPEC, but presidents have long pressured its top producer Saudi Arabia to adjust oil production policies.

Russia backs OPEC oil output hike

2018-06-23 16:11

Russia on Saturday joined partner countries in backing an OPEC-led pledge to boost oil production in response to growing global demand, Angolan Oil Minister Diamantino Azevedo said.

OPEC rift deepens as Iran walks out of key meeting

2018-06-22 05:00

Iran's oil minister walked out of a key meeting with OPEC peers on Thursday, as a rift deepened with regional rival Saudi over its push to ramp up the cartel's oil output.

US oil output to grow again this year - OPEC

2018-05-14 13:12

Booming oil output in the United States - which has threatened to derail other producers' efforts to drive up crude prices - looks set to expand strongly again this year.

Once Opec's oil-price dove, Saudi Arabia takes a harder line

2018-02-19 12:47

For decades, Saudi Arabia was the voice of moderation within Opec, pushing back against the urging of members like Venezuela and Iran for higher oil prices.

Saudi Arabia calls for oil producers to extend cooperation

2018-01-21 15:30

Top oil exporter Saudi Arabia called for extending cooperation between OPEC and non-OPEC producers beyond 2018, after a deal to cut output succeeded in shoring up prices.

Oil resurrection sets stage for another OPEC-stale clash in 2018

2017-12-29 07:53

Oil’s revival from the biggest crash persisted, with prices set for a second annual gain after weathering everything from hurricanes and Middle East conflict to the tussle between OPEC and US shale.

Expect big fuel price increase - economist

2017-11-27 14:48

Big fuel price increases are expected in December due to the rise in the price of global crude oil, and the further weakening of the exchange rate, warns an economist.

Cars to drive oil demand growth - OPEC

2017-11-09 10:19

The outlook looks bright for oil-producing nations and automakers, OPEC said on Tuesday, as the cartel expects a surge in car ownership in the developing world to far outweigh the adoption of electric vehicles over the coming two decades.

Opec and Russia stay focused on cuts as oil market improves

2017-09-22 13:11

Opec and Russia have said they were about halfway toward clearing a global oil glut and urged fellow producers to stay focused and finish the job.


Asian markets fall as trade war fears weigh on sentiment

2018-06-25 07:04

Asian markets fell Monday as fears of a global trade war continue to dog investors, with Donald Trump threatening fresh tariffs on European cars and reports he is considering curbs on Chinese investment the US.

OPEC on tightrope as output target talks prompt clash

2018-06-22 16:36

OPEC energy ministers scrambled to hammer out a compromise on oil output policy Friday as they debated a Saudi proposal to ramp up production.

Saudi oil Min: Deal to gradually boost OPEC output 'inevitable'

2018-06-15 08:50

Saudi Arabia’s oil minister says it’s 'inevitable' that OPEC and its allies will agree to boost oil output gradually, signalling that the cartel will alleviate high prices for consumers.

Oil price hike predicted as Trump blasts OPEC

2018-04-23 05:45

The Saudi energy minister's statement at a meeting of oil producers in Saudi Arabia has come as crude hit the highest level in more than three years.

OPEC's oil price nightmare is already coming true – Gadfly

2018-02-11 14:00

The US has become a serious contender as the world's largest oil producer.

Opec wins over hedge funds to make 2017 oil's most bullish year

2018-01-02 07:39

Oil bulls are charging into the new year with unprecedented vigor, and the credit goes to Opec.

Oil slips near $57 on Opec-cuts review, rising US rig count

2017-12-11 13:30

Oil has slipped to near $57 a barrel as US drilling expanded and Opec nations Kuwait and the United Arab Emirates signaled they can phase out production cuts if the market improves.

Opec head says oil cuts ' only viable option' to stabilise market

2017-11-13 11:46

The oil market is re-balancing at a quickening pace and production cuts are the “only viable option” to restore market stability, Opec Secretary General Mohammad Barkindo said.

Nigeria's former oil minister blasted over court bid

2017-11-01 21:12

A Nigerian judge has accused the country's former oil minister of trying to "avoid justice" in Britain, as he dismissed an application for her to face corruption charges back home.

OPEC has success at last, but oil revival may be short-lived

2017-09-20 12:00

When OPEC and its allies gather this week, they’ll have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived.

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