Opec
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Oil Bulls Rewarded as Crude Surges After OPEC Output Accord
EghtesadOnline: Oil investors’ bullish bets on last week’s OPEC meeting paid off. While most analysts weren’t expecting a deal, money managers increased wagers on rising prices by the most since…
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Oil prices fall on high production despite planned OPEC output cut
EghtesadOnline: Oil prices fell away from $50 per barrel on Monday despite an agreement last week by exporters to cut output, with traders doubting the step was enough to rein in production that…
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Zanganeh: OPEC members expected to welcome Iran comeback to oil market
EghtesadOnline: Minister of Petroleum Bijan Zanganeh said on Wednesday that members of the Organization of the Petroleum Exporting Countries are expected to welcome comeback of Iran to oil market…
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Good news for oil producers is bad news at the pump
The Biggest Winners and Losers From OPEC's Oil Deal
EghtesadOnline: The Organization of Petroleum Exporting Countries' agreement to cut production ends two years of Saudi Arabia's pump-at-will policies, which had sunk oil prices to the joy of…
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OPEC ‘Capitulation’ Leaves Obstacles for U.S. Shale Drillers
EghtesadOnline: OPEC finally blinked in its two-year price war with U.S. oil producers. Whether that translates into a financial victory for the American shale industry remains to be seen.
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With Deal Done, OPEC Faces Hurdles in Making Output Cuts Work
EghtesadOnline: The challenges OPEC will confront trying to limit output were evident just minutes after the group agreed on the new plan. In an angry and sometimes incoherent briefing, Iraq’s…
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In OPEC Hotel, Dealmaker’s Gambit Wins Saudi-Iran Agreement
EghtesadOnline: Noureddine Boutarfa, the Algerian oil minister who hosted this week’s OPEC meeting, resorted to one of the oldest tricks in the dealmaker’s book: He put his fellow ministers in…
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Wall Street rallies as OPEC reaches output deal
EghtesadOnline: Wall Street ended higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil and more than offset nervousness about a tight race for the U.S. presidency.
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Oil prices, stocks up on surprise OPEC deal though gains seen fizzling
EghtesadOnline: Oil prices extended gains in Asia on Thursday, boosting stock markets, after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets…
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Oil soars 6 percent as OPEC reaches deal to limit output in November
EghtesadOnline: Oil prices settled up nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since…
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OPEC agrees modest oil output curbs in first deal since 2008
EghtesadOnline: OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure…
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Zangeneh calls for revival of quota system in OPEC
EghtesadOnline: Minister of Petroleum Bijan Zangeneh on Tuesday called for revival of the quota system of the Organization of Petroleum Exporting Countries, saying that there is no alternative…
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European Stocks Rise as Oil Sub-$45 Before Algiers; Dollar Gains
EghtesadOnline: European stocks rose with U.S. equity index futures as oil stabilized below $45 a barrel before major producers meet to discuss output constraints in Algiers. The dollar strengthened…
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Saudi Oil Minister Signals He’s Open to Iran Compromise at OPEC
EghtesadOnline: Saudi Arabia gave the strongest indication yet it’s ready to compromise with regional rival Iran, potentially paving the way for the first limit on oil production in two years,…
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OPEC set for no deal as Iran rejects Saudi oil output offer
EghtesadOnline: Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find…
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Zangeneh: Algeria meeting to be consultative
EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Monday that current situation of oil market is detrimental to both producers and consumers in medium and long term and that the Algerian…
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OPEC May Finally Be Willing to Curb Oil Glut, Just Not Yet
EghtesadOnline: 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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Oil Halts Advance as Speculation Over OPEC Deal Whipsaws Market
EghtesadOnline: Oil halted gains after two days of price swings as investors weigh the chance of OPEC reaching an output deal to stabilize markets when the group meets Wednesday in Algiers.
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No sign of oil freeze at home as Russia meets OPEC
EghtesadOnline: As Russian energy minister Alexander Novak flies to Algeria this week for talks with OPEC on output cuts, developments at home indicate non-OPEC Russia is not preparing for any…
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Iran downplays chances of oil deal, UAE keen on freeze
EghtesadOnline: Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group…
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Oil Edges Higher as Saudi Offer Opens Door to Future OPEC Deal
EghtesadOnline: Oil pared its biggest drop in more than two months as Saudi Arabia’s offer to cut output opens the door to a future OPEC deal, even as it doesn’t expect an agreement this week…
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Saudis Willing to Act on ‘Critical’ Oil Market, Algeria Says
EghtesadOnline: Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels, Algeria’s energy minister said as he prepared to host a meeting of OPEC producers…
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Oil Speculators Abandon Hope OPEC Reaches Supply Agreement
EghtesadOnline: Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this…
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Oil prices rebound after Algeria says all options open at OPEC meeting
EghtesadOnline: Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting…
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Iranian oil minister to attend Algiers int'l energy forum
EghtesadOnline: Iran's Minister of Petroleum Bijan Zangeneh will leave Tehran for Algiers on Monday to attend the 15th Meeting of the International Energy Forum (IEF) and non-official meeting…
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OPEC Under Pressure to Act in Algiers as Surplus Triples
EghtesadOnline: As OPEC prepares to meet in Algiers next week, the oil market is reminding the group’s members what’s at stake if they fail to reach a deal.
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Ecuador hopes OPEC will reach agreement in Algeria, warns of risks
EghtesadOnline: Ecuadorean President Rafael Correa said on Saturday he hopes OPEC countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of…
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Russia Is Pumping Oil at Its Fastest Pace Since the Soviet Era
EghtesadOnline: Russian oil output rose to a record ahead of talks on supply with Saudi Arabia and other members of the Organization of Petroleum Exporting Countries next week.
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OPEC Deal Still Elusive Even After Saudis Offer Oil Cuts to Iran
EghtesadOnline: OPEC members aren’t likely to reach a supply deal in Algiers next week, but an agreement to boost prices could be drawing closer after Saudi Arabia signaled for the first time…
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Oil slumps 4 percent as no output deal expected for OPEC
EghtesadOnline: Oil prices tumbled 4 percent on Friday on signs Saudi Arabia and arch rival Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters…