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

Baker Hughes reported on Friday that the number of U.S. rigs drilling for oil was unchanged at 738. having risen by nine the previous week.

Holding first meeting of Joint Energy Meeting is a major step for working out cooperation framework.

The majority of members support the extension of the plan. but the final decision should be taken at the next OPEC meeting.

OPEC and allied oil producers should extend their production cuts beyond March to help rebalance the market.

OPEC and Russia are likely to apply a supply curb deal beyond its March 2018 expiry.

The Norwegian government supports R&.D with financial incentives.

Short term improvement in oil prices may slowdown fiscal reforms.

At least US$10bn of deals signed at flagship industry event. including Adnoc partnership with China’s state oil company.

U.S. West Texas Intermediate (WTI) crude futures were at $55.39 a barrel. 6 cents up from their last settlement.

Output cuts by OPEC and other producers such as Russia and Oman have started to pay off.