SINGAPORE, March 5: Oil prices rose on Friday, extending gains from the previous session, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic.
OSAKA/VIENNA, June 30: Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, Russian President Vladimir Putin said, as oil prices come under renewed pressure from rising U.S. supplies and a slowing global economy.
SINGAPORE, Feb 28 : Oil prices dipped on Thursday, dragged down by weakening factory output in China and Japan and record U.S. crude output, although markets remained relatively well supported by supply cuts led by producer club OPEC.
SINGAPORE, Feb 22: Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets.
TEHRAN, Dec 6: Qatar’s surprise decision to leave the Organization of the Petroleum Exporting Countries (OPEC) might be just a taste of things to come, as some analysts suggest the tiny Persian Gulf country plans to irritate Saudi Arabia even more by leaving the [Persian] Gulf Cooperation Council ([P]GCC).
WASHINGTON DC, Nov 8: US President Donald Trump is taking credit for falling oil prices, attributing the drop to the Iranian sanctions waivers he announced on Friday even as market analysts blame him for driving up the prices in the first place.
WASHINGTON DC, Nov 4: Oil prices have fallen around 15 percent over the past month, and concerns about oversupply have rushed back. OPEC and the US are both adding enormous volumes of fresh supply, threatening to create a bear market for crude.
BRUSSELS, Sept 26: Crude oil prices have jumped to the highest level since November 2014 as key producers like Russia and OPEC are not increasing production, while Iran will soon be hit by US sanctions on its energy industry.
CAIRO, Sept 23: It’s about that time again. WTI hits $70 per barrel and the tweet-rage is back. OPEC does have a meeting in the coming days in Algiers to assess the state of the oil market and decide on next steps.
LONDON, July 24: Oil slipped to one-week lows Monday, as several OPEC and non-OPEC ministers met to discuss a pact to curb oil output but the prospect of the group delivering deeper cuts grew more distant.
LONDON, May 25: Oil prices were volatile but trading sharply lower Thursday ahead of an expected announcement from the OPEC oil cartel that it will extend recent production cuts for a further nine months. Elsewhere, stock markets were unmoved by further indications from the Federal Reserve that it may raise interest rates again as soon as next month.