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

OPEC+ will meet in early March to discuss options for future cooperation on supply.

The OPEC+ decision to increase the reduction of oil output in the first quarter of 2020 was not linked to the Saudi Aramco IPO.

The deal could take as much as a year to bring the field back to full capacity.

Kuwait and Saudi Arabia could reach an agreement by the end of this year to renew oil output.

Iraq has been one of the weakest links since the OPEC+ alliance began in late 2016.

The zone was formally partitioned between Saudi Arabia and Kuwait in 1970.

JP Morgan Research expects the oil price to peak in the first three months of 2020.

Oil ministers from OPEC and non-OPEC partners during their last meeting in Vienna agreed to cut an extra 503.000 b d from their total production in a bid to help stabilize the oil market.

A drop in US crude inventories helped oil prices to stay near three-month highs.

Oil prices are struggling to extend their gains as investors await further details regarding the U.S.-China ‘Phase One’ trade deal.