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News about OPEC
The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 13 countries. Founded on 14 September 1960 in Baghdad by the first five members, it has, since 1965, been headquartered in Vienna, Austria, although Austria is not an OPEC member state. (Source: Wikipedia)
Economy
Bloomberg: Russian oil has finally overcome the G7 price ceiling
Moscow, Russia (TEH) - In a surprising turn of events, Russian oil has defied Western sanctions and embargoes, with revenues rising to an eight-month...
Asia
Oil continues gains after OPEC+ decisions to deepen production cuts
And Saudi Arabia announced the availability of an additional temporary voluntary reduction of one million barrels per day, starting next July 1, for...
Asia
OPEC +… strong messages to balance the oil market
Responding to the moves, oil prices rose around 3% in early Monday morning trading, before paring their gains to more than 2%, with...
Asia
Reuters: OPEC+ in talks to discuss quotas and production cuts
According to Reuters, the sources said the bloc known as OPEC+, which includes the countries of the Organization of the Petroleum Exporting Countries...
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Asia
Reuters: OPEC+ is working on a new deal that includes baselines and cuts
The sources said the UAE would get a new, higher baseline if a deal is struck. Baselines are oil production levels against which...
Asia
Reuters: Possible agreement on further production cuts at OPEC+ meeting
OPEC+ pumps around 40% of global production, which means its decisions have a significant impact on oil prices. Three OPEC+ sources told Reuters...
Asia
“OPEC” .. a safety valve for the stability of oil markets
OPEC has always been concerned with a permanent and constructive dialogue between itself and all international partners and agencies to guarantee the interest...
Asia
Putin: energy prices close to ‘economically justified’ levels
Addressing the Russian-led Eurasian Economic Union conference in Moscow, Putin also raised the issue of energy shortages in Europe.
"Now energy prices are approaching economically...
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News
Market assessment of Saudi energy minister’s statements sends oil prices skyrocketing
Market participants had speculated that the Saudi energy minister's remarks about speculators could be a sign that the OPEC+ alliance could discuss further production...
News
Supply shortage issues push up black gold prices
The "OPEC+" alliance meets again on June 4, and some analysts expect more cuts.
For his part, Saudi Energy Minister Prince Abdulaziz bin Salman said...
News
Saudi Energy Minister: ‘OPEC+’ will continue to act proactively
During an address on the sidelines of the Qatar Economic Forum, the minister added that "OPEC+" has 3 objectives, which are "vigilance, initiative and...
Foreign Affairs
Caution in oil trade as eyes turn to debt ceiling talks
Talks to raise the debt ceiling in the United States are set to resume in Washington on Monday, as markets fret over the continued...
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