• 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
  • 16 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."
  • 3 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
  • 6 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

Is This The Best Dividend Stock In Oil & Gas?

Supermajors have had a tough…

Alt Text

Are Oil Prices About To Bounce Back?

Money managers have gotten increasingly…

Nick Cunningham

Nick Cunningham

Nick Cunningham is a freelance writer on oil and gas, renewable energy, climate change, energy policy and geopolitics. He is based in Pittsburgh, PA.

More Info

Trending Discussions

Why OPEC’s Decision To Delay Makes Sense

OPEC decided to maintain deeper cuts for the next few months, but it also decided to delay until June a decision on whether or not to extend the supply curbs.

When OPEC and its non-OPEC partners announced the new round of production cuts last December in Vienna, it also said that it would revisit the agreement in April. The meeting was intended to assess the progress of the cuts, take stock of the oil market, and decide whether or not to continue the agreement.

Now, OPEC feels it needs to kick the can down the road. Saudi oil minister Khalid al-Falih said that because the oil market will probably remain oversupplied through the first half of the year, it would be premature to try to make a decision in April.

Some analysts aren’t quite as pessimistic as the Saudi oil minister, but delaying a decision makes sense, and not just because Riyadh thinks the market is dealing with too much oil. The biggest reason to delay any action is that the waivers on Iran sanctions are set to expire in May and the Trump administration has to decide whether it wants to extend them, extend some of them, or go for broke by letting them expire.

The Trump administration has sent contradicting signals on this issue in the last few weeks. The Trump team’s lead envoy on Iran sanctions, Brian Hook, said in Houston earlier this month that the degree to which the U.S. government tightens the screws may hinge on Venezuela. Hook’s comments, made at the IHS CERAWeek…

Trending Discussions


Leave a comment

Leave a comment





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