The United Arab Emirates’ resistance at OPEC meetings to extending deep supply cuts into 2021 is the start of a more assertive policy stance that could make it harder for the group to balance global oil supply. The seeds of the emerging divergence have their roots in a major expansion …

Another month, another OPEC “crisis.” It’s the usual problem: The cartel, meeting in Vienna this week, can’t agree on how to balance production with price. The Saudi-led oil exporters, boosted by non-OPEC countries such as Russia and Kazakhstan, can’t control price as such so have to imagine how to agree …

German Foreign Minister Heiko Maas expects the longstanding issue of the Russian gas pipeline project, Nord Stream 2, to be settled after Joe Biden takes office as US president. “The European Union sees the sanctions introduced against the project as an illegal step and takes a different view of the …

The change in the U.S. presidency will bring the collaboration and set of progressive policies needed to tackle the energy transition, Royal Dutch Shell Plc’s chief executive officer said. President Donald Trump pulled the U.S. out of the Paris Agreement on global warming and railed back environmental protections while promising …

Aramco President and CEO Amin Nasser was recognised by his peers in the global chemical industry as he was presented The Chemists’ Club 2020 Kavaler Award, sponsored by ICIS. Speaking at the virtual event, Nasser commented on the challenges of 2020, his belief in a bright future for the chemical …

OPEC+ was discussing a proposal to gradually ease its oil-output cuts next year, seeking to resolve divisions that emerged at the core of the cartel over several days of fractious negotiations. Talks were focused on a proposal for the cartel to add 500,000 barrels a day to the market in …

Iranian Minister of Oil Bijan Zanganeh said that the crude oil output cuts will decrease from previously-agreed amount of 7.7 million bpd to 7.2 million bpd in January 2021, down 500,000 bpd, adding it was a wise decision. Zangeneh made the remark after the 12th OPEC and non-OPEC Ministerial Meeting …

Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty after cracks emerged in the alliance earlier in the week. Futures surged 1.9% in London after closing at the highest level in nine months on Thursday. The group …

Saudi Arabia’s Minister of Energy Prince Abdulaziz Bin Salman affirmed that there is no disagreement between oil producers, describing this disagreement as rumors. Talks were successful, Prince Abdulaziz said on the sidelines of the 12th OPEC and non-OPEC Ministerial Meeting held yesterday, adding that a monthly meeting will be held …

Crude oil prices were down on Wednesday over the double whammy of an increase in US oil inventories and continuing uncertainty about OPEC+ meeting as investors await a decision from OPEC+ regarding their production policy for 2021. International benchmark Brent crude was trading at $47.15 per barrel at 0648 GMT …