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Oil Climbs Higher on China, Japan Rebound

EghtesadOnline: Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns over weaker fuel demand due to growing coronavirus infections and higher production in Libya.
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Publish Date:17/November/2020 | 15:06

OPEC Would Wary of Strains Under Biden

EghtesadOnline: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US president, sources close to the organization said, and would miss the outgoing president, Donald Trump, who went from criticizing the group to helping bring about a record oil output cut.
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Publish Date:09/November/2020 | 14:05

OPEC Would Wary of Strains Under Biden

EghtesadOnline: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US president, sources close to the organization said, and would miss the outgoing president, Donald Trump, who went from criticizing the group to helping bring about a record oil output cut.
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Publish Date:09/November/2020 | 14:05

OPEC’s Barkindo: Rising Infections May Delay Oil Market Recovery

EghtesadOnline: OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market.
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Publish Date:28/October/2020 | 13:43

OPEC’s Barkindo: Rising Infections May Delay Oil Market Recovery

EghtesadOnline: OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market.
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Publish Date:28/October/2020 | 13:43

Worried About Declining Oil Demand, OPEC Pledges Action

EghtesadOnline: OPEC and allied producers have pledged action to support the oil market as concerns mounted that a second wave of the Covid-19 pandemic will hobble demand and an earlier plan to raise output from next year would further depress prices.
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Publish Date:21/October/2020 | 13:13

OPEC: Oil Demand to Plateau in Late 2030s

EghtesadOnline: World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits.
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Publish Date:10/October/2020 | 16:19

Crude Oil Prices Higher Following OPEC+ Meeting

EghtesadOnline: Crude oil future prices ticked higher during the mid-morning trade in Asia Friday, as the markets continued to price in a commitment from the OPEC to ensure that the members adhere to the mandated production cuts.
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Publish Date:19/September/2020 | 24:31

UAE Fails to Comply With Output Cuts

EghtesadOnline: The United Arab Emirates, currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+ deal, undermining the oil market’s faith in the group’s unity in the cuts.
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Publish Date:14/September/2020 | 13:56

Iraq Wants Exemption From OPEC+ Cuts in Q1 2021

EghtesadOnline: Iraq is seeking exemptions from OPEC+ cuts in Q1 of 2021 and has discussed the issue with key producers in the 23-member coalition during three consecutive meetings, state-owned al-Sabaah newspaper reported, citing the country's oil minister.
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Publish Date:03/September/2020 | 13:54

OPEC+ to Balance Market Share Gains

EghtesadOnline: OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.
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Publish Date:19/August/2020 | 10:23

OPEC+ to Pump More Crude

EghtesadOnline: From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus.
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Publish Date:04/August/2020 | 24:28

Oil Prices Gain With OPEC+ Holding the Line on Supply Cuts

EghtesadOnline: Oil prices rose more than 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.
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Publish Date:20/June/2020 | 24:24

Iraq Will Be Committed to OPEC+

EghtesadOnline: Iraq wants OPEC+ to take into consideration the economic and living conditions of countries when assigning quotas in oil production cuts, the country's finance minister said, as OPEC's second-largest oil producer struggles to adhere to it production limits.
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Publish Date:09/June/2020 | 24:29

Iraq to Study Using Kurdish Gas for Power Generation

EghtesadOnline: Iraq plans to study using Kurdish natural gas for power generation, the country's oil minister said on Sunday, allowing OPEC's second-largest oil producer to plug the gas deficit and power shortage.
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Publish Date:21/April/2020 | 11:57

Mexico Says Reached Deal With Trump to Cut Crude Output

EghtesadOnline: The president of Mexico -- the lone holdout in an OPEC deal to cut crude production and shore up prices -- said Friday that he has reached a deal with the US president to reduce oil output.
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Publish Date:12/April/2020 | 18:00

OPEC, Allies Agree to Historic 10 Million bpd Output Cut

EghtesadOnline: A historic production cut agreement between OPEC and its allies, known as OPEC+, hit a roadblock after Mexico refused to agree to its share of the cuts after a marathon meeting between the oil-producing nations that lasted more than nine hours.
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Publish Date:11/April/2020 | 15:51

Zanganeh Says OPEC+ Needs Further Production Cuts

EghtesadOnline: OPEC and its allies need to cut crude output by 500,000 barrels per day to clear the oil market's oversupply from the coronavirus outbreak, Iran’s Oil Minister said upon his arrival in Vienna on Wednesday.
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Publish Date:07/March/2020 | 06:19

OPEC, Non-OPEC Agree on Deeper Oil Output Cut

EghtesadOnline: OPEC and its allies (OPEC+ including Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, South Sudan and Sudan) led by Russia agreed to cut output by an additional 500,000 barrels per day until March 2020 as the 177th OPEC meeting held in Vienna, Austria, closed on Friday.
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Publish Date:07/December/2019 | 11:37