Opec
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Iran Pumps More Oil as Saudi Minister Calls for OPEC Output Cuts
EghtesadOnline: Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called for a collective output cut later this month to help rebalance…
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Oil Man Who Foresaw Crash Sees OPEC Uniting in Self-Interest
EghtesadOnline: OPEC members need to stop bickering over output curbs or risk the group becoming irrelevant to global oil markets, according to an analyst who predicted the biggest price crash…
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Oil steady near multi-month lows on OPEC output record, U.S. rig count
EghtesadOnline: Oil prices were little changed on Monday near multi-month lows, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again.
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Iran Tells OPEC It Raised Supply by Most Since Sanctions
EghtesadOnline: Iran, which has said it’s exempt from OPEC’s accord to cut production, told the group it raised output by the most since international sanctions were lifted. Iraq, unwilling to…
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OPEC Deal Becomes More Urgent, Harder to Reach on Trump Victory
EghtesadOnline: OPEC was already struggling to finalize a deal on production cuts this month. And then Donald Trump was elected President of the U.S.
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OPEC Boss Warns of Oil-Market Instability If No Deal on Output
EghtesadOnline: OPEC’s chief warned of prolonged instability in the oil market if the producer group and other major crude suppliers fail to act jointly to limit output and curb a global glut.
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Eni CEO Urges Non-OPEC to Cut Output, Sees Profit at $50 Oil
EghtesadOnline: Eni SpA’s chief executive officer called for oil producers outside OPEC to join the group in cutting production to stabilize the market and said his company could still make money…
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OPEC Chief Says Russia on Board With Deal to Limit Output
EghtesadOnline: Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, according to OPEC Secretary General…
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Kurds Reveal Oil Data as Iraq Output Row Threatens OPEC Deal
EghtesadOnline: Iraq’s Kurds say their oil production in September was 290,000 barrels a day lower than the federal government’s figures for the semi-autonomous region, as OPEC’s second-biggest…
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OPEC Output Deal ‘More Likely Than Not,’ Citigroup’s Morse Says
EghtesadOnline: OPEC and Russia will probably be able to reach an accord to reduce crude production and boost prices, according to Ed Morse, head of commodity research at Citigroup Inc.
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Saudis could raise oil output again as sparring with Iran returns - sources
EghtesadOnline: Old disputes between Saudi Arabia and rival Iran resurfaced at a meeting of OPEC experts last week, with Riyadh saying it could raise oil output steeply to bring prices down if…
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U.S. Oil Output Set to Decline as OPEC Deal Up in Air, EIA Says
EghtesadOnline: U.S. crude production is set to decline this year as the Organization of Petroleum Exporting Countries struggles to put a dent in global oversupply, according to the head of the…
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OPEC Quest Gets Tougher as Libya and Nigeria Ramp Up Oil Supply
EghtesadOnline: Nigeria and Libya, two crude suppliers in OPEC whose output was crushed by domestic conflicts this year, are ramping up again and spelling out what could become the producer club’s…
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Bets Are On for Oil Prices to Slump Again
EghtesadOnline: The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
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OPEC Chief Says Oil Producers On Course to Deliver Supply Deal
EghtesadOnline: OPEC’s most senior official said the organization and other major oil producers are “on course” to deliver a deal this month that will temper the global oversupply.
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Oil's Heading to $40 If OPEC Fails, Says Goldman
EghtesadOnline: An OPEC deal to cut oil output at a meeting this month is looking increasingly unlikely, with failure warranting prices in the low-$40s, according to Goldman Sachs Group Inc.
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Oil prices rise from one-month lows after OPEC approves strategy
EghtesadOnline: Oil prices rose from one-month lows in Asian trading on Tuesday after OPEC agreed on a long-term strategy that was seen as an indication the cartel was reaching a consensus on…
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Oil Extends Decline as OPEC Splits Prevent Deal to Curb Supply
EghtesadOnline: Oil declined for a second day as OPEC’s internal disagreements undermined efforts among major suppliers to reach an agreement in Vienna on trimming output to support prices.
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Iraq Reveals Oilfields Output to Win Over OPEC Ahead of Meeting
EghtesadOnline: Iraq published data showing a rare level of detail for its oil production and exports, a week after inviting energy reporters to Baghdad to make a case that the country is pumping…
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More OPEC Exemption Requests Spur Wagers on Oil Price Slump
EghtesadOnline: The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
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Oil falls as non-OPEC yet to pledge concrete output steps
EghtesadOnline: Oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, suggesting they wanted…
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OPEC Splits Prevent Deal With Other Producers to Curb Supply
EghtesadOnline: OPEC’s internal disagreements over how to implement oil-supply cuts agreed last month prevented a deal to secure the cooperation of other major suppliers.
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Brazil to Join Russia, Kazakhstan in OPEC Talks
EghtesadOnline: Brazil, the fastest-growing oil producer outside OPEC, will join talks with the exporters group in Vienna on Saturday about potential cooperation.
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OPEC Says Road Map to Implement Algiers Oil Deal Is Taking Shape
EghtesadOnline: The path to implementing OPEC’s Algiers agreement to cut production is taking shape and the outcome of a meeting of oil producers in Vienna Friday and Saturday could have a significant…
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OPEC Said to End First Day of Vienna Talks Without a Deal
EghtesadOnline: OPEC ended its first day of meetings in Vienna without reaching a deal on country quotas, delegates who took part in the talks said.
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OPEC May Need Help to End the Global Glut of Oil
EghtesadOnline: Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground.
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Iraq Serves Sweet Tea and Raw Data to Avoid OPEC Production Cuts
EghtesadOnline: With trays of sweet tea and a tour of Babylonian treasures at the national museum, Iraq’s Oil Minister Jabbar al-Luaibi welcomed energy reporters to Baghdad. A month after railing…
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Oil prices set for weekly drop on doubts OPEC can coordinate output cut
EghtesadOnline: Oil prices were steady on Friday, but on track for a weekly loss of more than 2 percent on uncertainty over whether OPEC would be able to coordinate a production cut big enough…
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OPEC Is at ‘Hardest’ Stage in Its History, Chief Barkindo Says
EghtesadOnline: OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market.
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Saudi Arabia Faces Tough OPEC Equation With Mounting ‘Exemptions’
EghtesadOnline: Saudi Arabia faces the prospect of much deeper -- and financially painful -- oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched…