Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Prices will fall until either Moscow or Riyadh call off the endurance contest.

Saudi Arabia plans to increase its crude oil output next month to more than 10 million barrels a day in response to the collapse of its OPEC+ alliance with Russia, Bloomberg News reported on Saturday. Brent slid to its biggest daily loss in more than 11 years on Friday after …

Libya was currently producing around 121,000-123,000 b/d because of the blockade.

Russia's oil output increase will now hinge on companies' plans.

Many shale producers are highly exposed to the current low oil prices.

The oil market now faces double jeopardy.

Iranian Minister of Petroleum Bijan Zangeneh says OPEC had decided to wait for an agreement of non-OPEC allies to consider major cuts in the group’s output to shore up oil prices.

Iranian Minister of Petroleum Bijan Zangeneh says OPEC+ could reach an agreement to consider deeper cuts in the group’s output before the end of March.

A sharp drop in aviation and transport demand has sent prices down by a third since January.

The most immediate pain is likely to be felt in the US shale industry.