Oil Falls 5% After OPEC+ Producers Agree to Raise Output
July 19, 2021 Oil prices fell over $3 in their largest daily decline since late March on Monday after OPEC+ overcame internal divisions and agreed to boost output, causing concern…
OPEC+ Plans New Output Policy Meeting on Sunday – Sources
July 17, 2021 OPEC+ ministers plan to hold their next meeting on Sunday to decide on output policy, three sources within the producers group told Reuters on Saturday. The development…
OPEC+ resumes oil policy talks amid Saudi-UAE standoff
July 5, 2021 OPEC+ ministers resume talks on Monday after failing to reach a deal on oil output policy in two days of talks last week amid a rare public…
Oil slips after hitting highest since 2018 before OPEC+ talks
June 28, 2021 Brent dipped 10 cents, or 0.1%, to $76.08 a barrel at 0911 GMT, after climbing to $76.60 its highest since October 2018. U.S. crude was down 4…
Oil rises on OPEC+ supply discipline, demand prospects
June 2, 2021 Oil rose on Wednesday, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of…
OPEC+ panel sees weaker oil demand in 2021 – document revealsÂ
OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a…
Oil drops 3% after Trump tests positive for COVID-19
Oil prices were down 3% on Friday after U.S. President Donald Trump tested positive for COVID-19 and negotiators failed to agree a U.S. stimulus package just as rising global oil…
OPEC+ needs to cut daily oversupply of more than 2mbpd – Document shows
Some members of the OPEC+ group of oil-producing nations would need to slash output by an extra 2.31 million barrels per day (bpd) to make up for their recent oversupply,…
Nigeria’s production compliance under focus as OPEC+ group meets
OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic….
Saudi King Salman, President Buhari discuss oil market, stress importance of compliance to OPEC+ agreement -SPA
Saudi Arabia’s King Salman bin Abdulaziz and Nigerian President Muhammadu Buhari discussed efforts taken to stabilise and rebalance global oil markets in a telephone call, Saudi state news agency SPA…