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

Oil is off more than 20% from peaks struck in January after a spreading virus hit demand in the world’s largest oil importer and fueled concerns of excess supplies.

The coronavirus epidemic has a negative impact on economic activities.

Iran could support deeper cuts in crude oil output of the Organization of the Petroleum Exporting Countries (OPEC) if a majority of the members agreed with it.

The death toll from the coronavirus has risen to 638. with all but two of them limited to China. More than 31.000 people have been affected.

The U.S. is preparing to step up enforcement of international rules limiting sulfur in ship fuel.

OPEC and its allies. a grouping known as OPEC+. are scheduled to meet in Vienna on March 5-6.

Moscow needs more time to assess the situation. stopping short of giving a clear Russian position on the proposal.

OPEC producers in OPEC+ are currently discussing whether to meet earlier than their scheduled gathering in Vienna on March 5-6.

Oil prices have fallen by more than $11 a barrel this year to $55. alarming producers.

Producers are weighing further output cuts and moving a planned policy meeting to February rather than March.