OPEC Lambasts Anti-Oil Sentiment, Warns of Underinvestment – OPEC+ compliance with its collective targets keeps on worsening with the 19 members underperforming by 2.6 million b/d, just as the oil alliance prepares for its June […]
Authored by Simon Watkins via OilPrice.com, OPEC has repeatedly warned of the danger of undermining oil industry investment and has cut production to ensure oil prices remain higher. Meanwhile, the United States has rigorously attempted […]
Saudi Arabia’s revenues are expected to increase this year due to the high oil prices that will be generated by the reduction in crude oil production by several OPEC countries and Russia from May onwards. Saudi […]
The Saudi-led oil producing group OPEC+ has signalled it would hold the oil supply steady to maintain a stable market. But in a surprise move, the alliance, which includes Russia, announced it would slash output […]
(Reuters) – Oil prices were stable on Wednesday, as the market weighed gloomy economic prospects against expectations of U.S. crude inventory declines and OPEC’s voluntary output cuts announcement. Brent crude futures gained 22 cents, or […]
OPEC’s surprise decision to slash oil production stands to enrich an unexpected cohort: US shale drillers. The shock announcement sent US oil prices up by as much as $6 a barrel, signaling a new round […]
The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite the […]
Sunday’s surprise OPEC+ production cuts have redefined the outlook for crude prices, bringing $100 a barrel back into the frame.Prior to the announcement, the cartel’s own numbers suggested the group would need to pump more […]
EconomyEnergy Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data […]
The OPEC+ coalition is showing no signs of adjusting oil production next week, staying the course amid turbulence in financial markets. Group leader Saudi Arabia has said publicly that the 23-nation alliance should keep supplies […]
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