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OPEC and its allies. a grouping known as OPEC+. are scheduled to meet in Vienna on March 5-6.
Read More »Russia may Reveal Stance on Oil Output Cuts Next Week
Russia Wants more Time to Mull Output Cuts
Moscow needs more time to assess the situation. stopping short of giving a clear Russian position on the proposal.
Read More »Iran Supports Unanimous OPEC Output Cut Plan
OPEC producers in OPEC+ are currently discussing whether to meet earlier than their scheduled gathering in Vienna on March 5-6.
Read More »OPEC+ Panel may Agree on Need to Deepen Oil Output Cuts
Oil prices have fallen by more than $11 a barrel this year to $55. alarming producers.
Read More »Oil Climbs on Hopes for Output Cuts to Offset China Virus Impact
Producers are weighing further output cuts and moving a planned policy meeting to February rather than March.
Read More »OPEC Needs to Cut a New Deal and Fast
China is. by far. the biggest market for OPEC+ crude exports. with the big Arabian Gulf producers particularly vulnerable.
Read More »China Oil Demand Has Plunged 20% Because of the Virus Lockdown
Chinese oil demand has dropped by about 3 million barrels a day. or 20% of total consumption. as the coronavirus squeezes the economy. according to people with inside knowledge of the country’s energy industry.
Read More »Russia. Saudi Arabia Confirm Readiness to Cooperate in OPEC+ Format
The OPEC+ production reduction pact aimed at stabilizing crude prices is valid until the end of March 2020.
Read More »Russia. Saudi Arabia Confirm Readiness to Cooperate in OPEC+ Format
The OPEC+ production reduction pact aimed at stabilizing crude prices is valid until the end of March 2020.
Read More »UAE Announces Major Gas Find
The UAE wants to achieve gas self-sufficiency and possibly become a net gas exporter.
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