Tag: OPEC
Saudi-Russia oil price war could lead to global economic recession –...
CEO of Hess Corporation John Hess said the fallout from the current oil price war between Russia and Saudi Arabia could lead to a...
Hope for action from OPEC, central banks halts oil’s freefall
(Bloomberg) --Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilize financial markets, while hopes grew that OPEC+...
OPEC+ could push for 1 million bpd reduction as virus bites
(Wood Mackenzie) A week ago, the World Health Organisation reported that there had been about 77,000 cases of COVID-19, the disease caused by the...
Oil prices could fall much further as Russia refuses additional production...
(Forbes) As 2019 came to a close, oil prices were under pressure from the continued surge of U.S. shale oil. Although OPEC and its...
OPEC eyes deeper cuts to head off impact of coronavirus: source
OPEC members are considering deeper production cuts, or extending their existing deal, in response to a slump in prices caused by the outbreak of...
OPEC names Guyana in ‘growing supply threat from rivals’ forecast
The Organization of Petroleum Exporting Countries (OPEC) in its latest forecast points to a weaker outlook for global oil markets this year as surging...
Venezuela increases oil output amid drive to keep world inventories low
(MercoPress) The Organization of Petroleum Exporting Countries (OPEC) reported on Wednesday a gradual recovery in Venezuela's oil production with a figure of 912,000 barrels...
OPEC and allies agree to deepest oil output cuts in a...
OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to support crude prices and prevent a...
Guyana among countries set to push non-OPEC production
Combined oil production from non-OPEC countries such as Guyana is expected to grow at record speed in 2020, creating a headache for the Organization...
Brazil + OPEC forever? Hold off on those wedding invites says...
At an October forum in Saudi Arabia, Brazil’s president Jair Bolsonaro suggested that he would like to see Brazil join OPEC. If such a...