6 Mar 2020 The impasse comes after OPEC ministers on Thursday agreed on a call that would see the cartel cut production by a further 1 million barrels a 9 Mar 2020 Although OPEC still has the ability to drive prices, the U.S. has limited the cartel's pricing power by ramping up production whenever OPEC cuts 5 Mar 2020 (Bloomberg) -- OPEC ministers tried to force Russia to join them in production cuts, a high-stakes gamble that risks an oil price crash if it 6 Mar 2020 U.S. oil prices fell more than 10% Friday after OPEC leaders failed to reach an agreement with Russia to deepen a pact on production cuts. 6 Mar 2020 VIENNA — OPEC and key ally Russia failed to agree Friday on a cut to oil production that would have contained the plunge in the price of 6 Dec 2019 OPEC, Russia and other oil producing nations have agreed to deeper production cuts in an attempt to support crude prices in the face of a 3 Mar 2020 Francisco Blanch, Bank of America Merrill Lynch, on oil and the impact of the coronavirus.
7 Jan 2020 Iraq and Nigeria notably cut their production in December, edging closer to compliance with the OPEC+ agreement to curb output - DRILLING
The kingdom, which produces 10.3 million barrels of oil a day, more than a third of the OPEC members’ total, has made the lion’s share of cuts in recent years and is expected to continue doing so. OPEC on Thursday agreed to cut its output by an extra 1.5 million barrels per day (bpd) in the second quarter of this year – but only if Russia joins in. If agreed, the production cut could become the deepest one since the 2008 financial crisis. OPEC and Russia agree to cut oil production. After protracted discussions, the oil-producing nations have agreed to cut 500,000 barrels a day. Now, after the virus has spread to at least 65 countries and oil prices have fallen further, the Saudis and other OPEC members are likely to push for larger cuts of one million barrels a day. Oil prices OPEC reaches a deal to cut production. Oil prices surge as Saudi Arabia and Iran sign on to a deal at OPEC’s meeting in Vienna. Finance and economics Dec 3rd 2016 edition. For the first time since 2008, the Organization of Petroleum Exporting Countries (OPEC) agreed to a crude oil production cut last week, renewing hope among producers and investors that prices can OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.
3 Mar 2020 Francisco Blanch, Bank of America Merrill Lynch, on oil and the impact of the coronavirus.
After oil slumped to around US$10/bbl, joint diplomacy achieved a gradual slowing of oil production by OPEC, Mexico and Norway. After prices slumped again in Nov. 2001, OPEC, Norway, Mexico, Russia, Oman and Angola agreed to cut production on 1 Jan. 2002 for 6 months. Oil News: OPEC Is Cutting Its Production in a Bid to Boost Oil Prices The news sent oil prices in the U.S. up toward $60 a barrel, which is great news for these four low-cost producers. Opec had hoped to deepen their oil production cuts by 1.5m barrels of oil a day with the help of allies outside the cartel, led by Russia, to avert a price crash. But the so-called Opec+ group
6 Mar 2020 The impasse comes after OPEC ministers on Thursday agreed on a call that would see the cartel cut production by a further 1 million barrels a
5 Feb 2020 Crude oil prices were up on Feb. 5 as the global oil market and investors hope that the Organization of Petroleum Exporting Countries (OPEC) 23 Dec 2019 Oil producers' group OPEC and its 10 non-OPEC allies sprung a surprise at the recent meeting of ministers and envoys by announcing a 1 Dec 2016 (OPEC is a cartel of 13 major oil exporters, including Saudi Arabia, Iran, and Iraq, accounting for one-third of global output.) OPEC nations 10 Dec 2019 On Friday, the Organization of the Petroleum Exporting Countries (Opec) and its non-Opec allies (together called Opec+) decided to cut oil
Oil prices OPEC reaches a deal to cut production. Oil prices surge as Saudi Arabia and Iran sign on to a deal at OPEC’s meeting in Vienna. Finance and economics Dec 3rd 2016 edition.
23 Dec 2019 Oil producers' group OPEC and its 10 non-OPEC allies sprung a surprise at the recent meeting of ministers and envoys by announcing a
6 Dec 2019 The OPEC oil-producing countries and ally Russia said Dec. 6 they have agreed to cut their crude production by an extra 500,000 barrels a day