All posts tagged "OPEC"
Fall in U.S. Crude Stocks, North Sea Outage Supports Prices
Inventories have been steadily declining in the United States due to strong export demand and efforts by major oil producers to restrict supply
- Posted December 20, 2017
Iraq, Algeria support extension of oil production cuts
BAGHDAD — Iraq and Algeria support the extension of oil production cuts by OPEC and non-OPEC producers through the end of the year to try to boost prices, they said in a joint statement Thursday. The oil...
- Posted May 11, 2017
OPEC production jumped before global deal on cuts, IEA says
OPEC countries pumped 34.2 million barrels a day in November
- Posted December 13, 2016
Analysis: Will Oil Producers’ Cut Have Lasting Impact?
VIENNA – It seems like a big deal. But the joint production cut from OPEC and non-OPEC countries – the first in 15 years – might push up the price of oil less than the nations involved...
- Posted December 12, 2016
Non-Opec Oil Producers to Cut Output 558,000 Barrels a Day
VIENNA – OPEC has persuaded 11 non-member oil producers to cut production in an attempt to raise the low prices that have squeezed government finances in resource-dependent countries. Qatari Energy Minister Mohammed bin Saleh al-Sada, OPEC’s president,...
- Posted December 10, 2016
US Consumers Should Feel Muted Impact From Rising Oil Price
DALLAS — OPEC’s decision to cut production gave an immediate boost to oil prices, but the impact on consumers and the U.S. economy is likely to be more modest and gradual. The cartel agreed Wednesday to cut...
- Posted December 1, 2016
OPEC Agrees to Cut Output to Push Up Oil Price
VIENNA — OPEC has agreed to cut its oil production for the first time in eight years in an effort to boost crude prices. The cartel will cut 1.2 million barrels a day from its present output...
- Posted November 30, 2016
OPEC Says Oil and Gas Will Remain World’s Main Energy Source
VIENNA – OPEC has trimmed its forecast for growth in world consumption of crude over the coming decades, but says oil and gas will remain the globe’s main sources of energy. The forecast is contained in the...
- Posted November 8, 2016
OPEC Must Enact Cuts for Sustained Oil Price Rise, IEA Says
PARIS — The International Energy Agency is urging OPEC countries to swiftly deliver on promised production cuts if they want to see a sustained increase in oil prices that will also help shore up their economies. In...
- Posted October 11, 2016
OPEC Deal Shows Cartel’s Resolve and Desperation
ALGIERS, Algeria — OPEC’s unexpected agreement to trim production shows the cartel still has the resolve – and even desperation – to try to guide energy markets higher. But don’t expect triple-digit oil prices anytime soon. Ministers...
- Posted September 29, 2016