The Joint Ministerial Monitoring Committee of the OPEC+ group recommended that no changes be made to oil production quotas. The decision was not a surprise, with Putin and MBS having discussed OPEC+ cooperation just days […]
DUBAI, Nov 21 (Reuters) – Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying […]
The first question that comes to mind (as oil already tests multi-month lows) is – why would they do this? The Wall Street Journal reports that Saudi Arabia and other OPEC oil producers are discussing […]
Viral Facebook post: A “small area” in western Texas and southeastern New Mexico “has enough oil to fuel America for the next 200 years.” PolitiFact’s ruling: False Here’s why: Does America possess enough oil in 86,000 square miles […]
Turkey accused the United States of bullying its ally Saudi Arabia after OPEC+ producers announced major oil production cuts despite American objections. OPEC+ announced recently it would produce two million barrels of oil less a day […]
Portfolio investors continued heavy buying of crude oil futures and options for a second week after OPEC+ cut its production target more than expected. Hedge funds and other money managers purchased the equivalent of 47 […]
WASHINGTON, Oct 11 (Reuters) – President Joe Biden pledged on Tuesday “there will be consequences” for U.S. relations with Saudi Arabia after OPEC+ announced last week that it would cut its oil production target over […]
Summary For energy investors, the key takeaway from the OPEC+ meeting is that the group is willing to defend a floor in oil prices, presumably around $90 per barrel for the global benchmark Brent. In […]
SINGAPORE, Oct 10 (Reuters) – Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with […]
The Organization of the Petroleum Exporting Countries (OPEC) and allied oil-producing nations have backed a plan to dramatically slash oil supplies in a bitter blow to President Joe Biden . At an OPEC Plus meeting in Vienna, […]
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