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Energy / Oil Prices

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Why OPEC Couldn’t Move Oil Prices Higher

May 25, 2017 at 15:50 | Nick Cunningham

The latest OPEC meeting was uncharacteristically tranquil, with little of the eleventh hour infighting and arm-twisting that has been so prevalent in previous meetings. The cooperative spirit has allowed OPEC…

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Oil Crashes To $48 Handle As Iran Says It Won’t Cut Output

May 25, 2017 at 13:08 | Tsvetana Paraskova

Iran’s current crude oil output level will not be reduced under the extension of the OPEC production cuts, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Thursday. “Iran’s…

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Goldman: Oil Glut To Return When OPEC Deal Expires

May 24, 2017 at 15:43 | Nick Cunningham

OPEC is about to extend its production cuts for another nine months in an effort to bring the oil market back into balance. Keeping in place the 1.2 million barrels…

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OPEC Monitoring Committee Proposes Nine-Month Extension

May 24, 2017 at 11:29 | ZeroHedge

In the end, the OPEC Vienna meeting - which technically won't conclude until tomorrow - was anticlimatic, with the recommendation by Joint OPEC-Non-OPEC Ministerial Monitoring Committee in line with what…

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Iraq Could Make Or Break The OPEC Deal

May 23, 2017 at 15:53 | Nick Cunningham

The markets are betting that the OPEC extension is all but guaranteed after Saudi Arabia and Russia announced their intention to support a nine-month extension. Saudi energy minister Khalid al-Falih…

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Saudi Finance Minister: “I Wouldn't Care If The Oil Price Is Zero"

May 23, 2017 at 15:45 | Haley Zaremba

The Saudi Deputy Crown Prince Mohammed bin Salman unveiled the nation’s ambitious “Vision 2030” in an interview with Al-Arabiya in April. The roadmap lays out a wide variety of economic…

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The 5 Possible Outcomes Of The OPEC Meeting

May 22, 2017 at 14:01 | Nick Cunningham

The highly-anticipated OPEC meeting will take place this week, but unlike the last few meetings, the hype and excitement is much less palpable. That is largely because the end result…

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Russia And The Saudis: An Oil Marriage Of Convenience

May 22, 2017 at 13:34 | Gregory Brew

President Donald Trump’s visit to Saudi Arabia last week was full of pageantry, defense agreements and rhetoric extolling the decades-long Saudi-US alignment. Among the various strategic interests bringing Riyadh and…

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Oil Prices Rise As Saudis Discuss OPEC Deal Extension With Iraq

May 22, 2017 at 12:01 | Tsvetana Paraskova

Saudi Arabia’s Oil Minister Khalid al-Falih is meeting with Iraqi Oil Minister Jabar Ali al-Luaibi in Baghdad on Monday as OPEC’s de facto leader is trying to persuade fellow cartel…

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OPEC Thinks Deeper Cuts Might Not Be Required

May 22, 2017 at 09:57 | Irina Slav

The addition of another couple of smaller producers to the OPEC-non-OPEC oil production cut deal will be enough to bring global supply to a more acceptable level. That’s what Saudi…

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