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

US crude has fallen about 18% from a peak in late April and volatility has jumped as deteriorating US-China trade relations cast a pall over the global growth outlook.

OPEC is close to reaching an agreement to extend the production cut deal beyond June.

Saudi Arabia and Russia. the two largest producers in the OPEC coalition. voiced concerns that falling oil demand could send prices below $40 bbl as they met in Moscow.

Oil bulls thought 2020 would be their year.

U.S. crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory.

After a prolonged oil price plunge. pushing price levels down to around $59 Brent per barrel. signs are showing that the market believes the downward trend has overshot its target.

Saudi Arabia’s top oil official said he was sure that OPEC+ will extend production cuts into the second half of the year after holding talks with Russia.

OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June.

The U.S. Gulf Coast saw its crude oil imports in March at their lowest level since 1986.

US oil production keeps accelerating towards new highs. New records are expected both when the final numbers for May emerge and at the end of the year.