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

OPEC oil output has risen for a fourth month in October, a Reuters survey found, as a restart of more Libyan installations and higher Iraqi exports offset full adherence by other members to an OPEC-led supply cut deal. The 13-member Organization of the Petroleum Exporting Countries has pumped 24.59 million …

While the oil market speculates on whether or not OPEC+ will ease its production cuts in January amid sluggish demand, rumors emerged on Thursday that the three biggest OPEC producers behind Saudi Arabia may not be on board with extending the current cuts into next year. Iraq, the United Arab …

The members of the Organization of Petroleum Exporting Countries (OPEC) and their non-OPEC allies, have set the stage for a dramatic meeting at the end of November as bears look firmly in control of oil markets. The expanded OPEC-plus alliance, which is dominated by Saudi Arabia and Russia, could have …

From his third-floor office in eastern Baghdad, Iraqi Oil Minister Ihsan Abdul Jabbar can see the rowdy protesters below as they march toward Tahrir Square, the symbolic heart of Iraq’s latest uprising. On Sunday, thousands of Iraqis again gathered with national flags at the square, across the Tigris river from …

OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. OPEC and allies including Russia made a record oil output cut in April as the pandemic hit …

Crude settled higher on Tuesday as companies shut down some U.S. Gulf of Mexico oil production ahead of an approaching storm, although surging coronavirus infections and rising Libyan supply limited gains, Trend reports with reference to Reuters. Companies including BP, Chevron, Shell and Equinor ASA evacuated rigs or closed facilities. …

OPEC’s secretary general said on Monday OPEC+ producers did not expect a renewed oil-price collapse as seen in the second quarter, and said producers in the OPEC+ alliance would continue to “stay the course” in balancing the market. OPEC’s Mohammad Barkindo was giving a speech at the virtual India Energy …

A truce in Libya has busted open a renewed source of oil supply, further threatening the commodity’s faltering recovery from its historic drop earlier this year. Libya’s main warring factions signed a purportedly permanent truce last week, roughly one month after a blockade on the country’s oil exports by one …

As OPEC and its allies ruminate over whether to ease their collective production cuts at the end of the year, a very interested – though perhaps distracted by the US election – Trump administration will be watching closely from Washington. The OPEC+ agreement, forged in April during the worst of …

Iraq has invited international bidders to develop its Mansuriya gas field near the Iranian border, Iraqi Oil Minister Ihsan Abdul Jabbar told the state news agency INA last week. The invitation comes after the termination of a contract with a group led by Turkey’s state-owned Turkish Petroleum Corp. that also …