• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 26 mins Emissions Need To Be Halved To Avoid 3C Warming
  • 11 hours The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 7 mins Iran downs US drone. No military response . . Just Destroy their Economy Completely. Can Senator Kerry be tried for aiding enemy ?
  • 3 hours Coal Boom in Asia is Real and a Long Trend
  • 20 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 16 mins Pioneer CEO Said U.S. Oil Production would be up to 15 mm bbls/day NOW if we had the pipelines. Permian pipelines STARTING Q3
  • 21 hours OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 9 hours Solar Panels at 26 cents per watt
  • 14 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 14 hours US to become net oil exporter in November: EIA
  • 2 hours Huge UK Gas Discovery
  • 19 hours Trudeau approves Trans Mountain Pipeline
  • 14 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 21 hours The Plastics Problem
Alt Text

Canada’s Oil Patch Faces Investor Exodus

Capital investment across Canada’s oil…

Alt Text

BP: Petrochemicals Drive U.S. Oil Demand Boom

The United States saw its…

Alt Text

Small Crude Build Sends Oil Lower

Oil prices continued to fall…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Trending Discussions

OPEC Looks To Permanently Expand The Cartel

At its November 30 meeting, OPEC will seek to discuss making its current partnership with non-OPEC producers permanent, OPEC’s Secretary General Mohammad Barkindo told reporters at the Oil & Money conference in London on Thursday.

“This platform of 24 countries, now hopefully growing, should be institutionalized,” Barkindo said, as quoted by Platts.

“We should have a permanent framework to sustain this platform,” OPEC’s secretary general added. “We are working with the Russian and Saudis on how we can structure this platform to sustain it.”

In his speech at the conference, OPEC’s chief said that “at OPEC we recognize the importance of institutionalizing a framework that builds on this unparalleled global platform of stability. This would go beyond the short-term and look at some of the broader challenges, as well as opportunities, the oil industry is expected to face in the years and decades ahead.”

Referring to the U.S. shale producers, Barkindo reiterated his view that American producers should have a “shared responsibility”, and said that some of them are “playing the proverbial ostrich.”

In an unconventional plea to U.S. shale drillers last week, Barkindo urged North American producers to share the responsibility for drawing down the global oil overhang.

“We urge our friends in the shale basins of North America to take this shared responsibility with all the seriousness it deserves, as one of the key lessons learnt from the current, unique supply-driven cycle,” OPEC’s chief said in a speech last week.

Related: Kurdistan Accuses Baghdad Of Planning Oil Field Seizure

Commenting on the shale drillers’ opportunities and challenges, Barkindo said today:

“You cannot have your cake and eat it. Hence we are beginning to see some of them coming out to say we have to be mindful of fiscal discipline. The funding they are getting from Wall Street is not continuing at the pace and level that they were getting.”  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment





Oilprice - The No. 1 Source for Oil & Energy News