OPEC

Saudi Arabia

What OPEC’s Production Cuts Really Mean

Crude oil prices have added about $5 a barrel since Wednesday's announcement from OPEC that the cartel had reached an agreement to slice about 1.2 million barrels a day from ...
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Saudi Arabia

Did OPEC Production Cut Make More Speculative Oil Stocks Rally Too Much?

On a day that the Organization of Petroleum Exporting Countries (OPEC) announces a production cut, which is actually just announcing a formalized cut after previously stating that a cut was ...
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Oil Barrels

Crude Oil Price Soars on OPEC Deal, Inventory Change Not a Factor

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 900,000 barrels last week, maintaining a total U.S. commercial crude ...
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Pump Jacks Against at Dusk

If Crude Production Cuts Don’t Happen, Price Could Tumble $10 a Barrel

Crude oil prices have been volatile for the past six months, hitting a high near $54 a barrel in June and a low of around $43 a barrel in early ...
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oil tanks

Analyst Has 4 Top Energy Stocks to Buy for a Possible OPEC Cut This Week

One of the major problems for the top oil-producing countries in the Middle East is that for most of them, oil is their export bread-and-butter. With oil prices not able ...
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fracking

Oil Rig Count Rises by 3; OPEC Supply Cut Talks Flounder

In the week ended November 23, the number of rigs drilling for oil in the United States totaled 474, up by 3 compared with the prior week and a total ...
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oil tanks

Saudi Arabia Pushes 2% Output Cut

The OPEC meeting on November 30 could result in a cut of nearly 2% to the world's daily output if Saudi Arabia gets its way. The Saudis are pushing a ...
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fracking

Rig Count Rises by Most in 2 Years, Hedge Funds Boost Short Positions

In the week ended November 11, the number of rigs drilling for oil in the United States totaled 471, up by 19 compared with the prior week and a total ...
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oil tanker

Rig Count Ticks Down as Crude, Natural Gas Prices Plunge

In the week ended November 4, the number of rigs drilling for oil in the United States totaled 452, up by 2 compared with the prior week and a total ...
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OPEC

OPEC Production Rose Again in October, but Cartel Still Sees Rebalancing Next Year

In its Monthly Oil Market Report for October, released Friday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
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fracking

Rising Rig Count, Continuing Crude Glut Weighs on Price

In the week ended October 21, the number of rigs drilling for oil in the United States totaled 443, up by 11 compared with the prior week, but down from a ...
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fracking

Rising Rig Count Stifles Crude Oil Price Gains as Hedge Fund Short-Covering Ends

In the week ended October 14, the number of rigs drilling for oil in the United States totaled 432, up by four compared with the prior week and compared with a ...
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OPEC

Oil Market Report Shows OPEC Production Increase in September

In its Monthly Oil Market Report for September, released Wednesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
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oil tanker

Will Crude Oil Price Remain Above $50 a Barrel?

For the first time in three months, the price of a barrel of West Texas Intermediate (WTI) crude oil appears set to close above $50. WTI for November delivery reached ...
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fracking

OPEC Cuts Best News in 2 Years for US Shale Producers

In the week ended September 30, the number of rigs drilling for oil in the United States totaled 425, up by seven compared with the prior week, but down from a ...
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