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Opec
Crude
OPEC’s Pact with Russia Falls Apart, Sending Oil Into Tailspin
A three-year honeymoon between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavi…
Oil & Gas Trade
OPEC+ Stuck Yet Again as Saudi Arabia and Russia Disagree on Output Cuts
The OPEC+ found itself stuck yet again, after a day of talks that ended with its two most important members split over whether they should deepen production cut…
Oil & Gas Trade
Saudis Lobby for Million-Plus-Barrel OPEC Cuts, Extending Oil’s Gains
Oil rose for a third day after Saudi Arabia pushed for a deeper output cut than OPEC’s technical committee recommended a day earlier.
Crude
Russia: Coronavirus Impact On Oil Is Worse Than Expected
Russia continues to refuse to announce its position regarding deeper cuts by the OPEC+ coalition, but admitted that the coronavirus outbreak could lead to addit…
Crude
Coronavirus Punches Hole In Oil Market That OPEC Can’t Fix
The coronavirus epidemic is a black swan that has severely disrupted the outlook for the global oil market, and at this moment it remains unclear how large the …
Oil & Gas Trade
Oil may Hit $40 if Russia doesn’t Support Opec’s Production Cuts
In a volatile trading last week, crude oil prices touched one-month high and then fell back as coronavirus fears were back in the markets, with infection and de…
Oil & Gas Trade
Iran to take Part in OPEC Meeting in March
Oil Minister Bijan Namdar Zanganeh said that Islamic Republic of Iran will participate in upcoming meeting of the Organization of Petroleum Exporting Countries …
OPEC Underestimates the Virus
The Covid-19 virus is a human tragedy for many who have been affected by it and it’s having a profound impact on the lives of a large part of the Chinese popul…
Crude
Russia Still Elusive On Deeper OPEC+ Oil Production Cuts
Russia is still reviewing the recommendation of the OPEC+ technical panel for additional cuts of 600,000 bpd in response to the slump in oil demand over the cor…
Oil & Gas Trade
Russia Still Studying Proposed Deeper Opec+ Output Cuts: Novak
Russia is still studying proposed deeper oil output cuts by the Opec+ grouping of top producers prompted by the new coronavirus outbreak in China, Energy Minist…
Crude
OPEC+ Panel Calls for More Oil Cuts on Coronavirus Impact
An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of …
Crude
Oil Falls 1% as Russia Needs Time to Mull more Opec+ Supply Cuts
Oil prices fell 1 per cent on Friday as Russia said it needed more time before committing to output cuts sought by other large producers while the coronavirus o…
Crude
Oil Climbs After Russia Backs Possible Output Cuts to Counter Coronavirus Impact
Oil prices rose on Friday after Russia said it backs a recommendation for the OPEC and its producer allies to deepen output cuts amid contracting demand for cru…
Oil & Gas Trade
Sinopec Provides Free Natural Gas for Makeshift Hospital in Wuhan
China Petrochemical Corporation (Sinopec), China's largest oil refiner, started to provide free natural gas Tuesday for Leishenshan hospital, one of the makeshi…
Oil Price
Oil Prices Jump 2% as Virus Vaccine Reports Spur Hope
Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output cuts to c…
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