OPEC

As Russia and Saudi Arabia ramp up crude production, U.S. shale producers face dangerous days ahead and pressure is building elsewhere as well.
Paul Ausick
OPEC and its non-OPEC members (OPEC+) have failed to agree on further cuts to oil production as a response to the slowdown in the global economy due to the coronavirus outbreak. Russia now looks like...
Paul Ausick
The International Monetary Fund has a new study on the impact of declining demand for oil on the economies of six Persian Gulf nations. Continuing to depend on revenue from oil sales threatens the...
Paul Ausick
The coronavirus outbreak in China has reduced demand for oil in the country by more than 4 million barrels a day and chopped 15% from the price of crude. OPEC+ wants to drive the price higher for all...
Paul Ausick
Recent geopolitical events in the Middle East caused world oil prices to spike but the effect was soon reversed. The overall balance in global oil supply and demand should continue at least through...
Paul Ausick
The easing of trade tensions between the United States and China is expected to lift global economic growth in 2020. OPEC expects demand for oil to put a strain on supplies, raising prices for the...
Paul Ausick
Saudi Arabia and Kuwait are expected to sign an agreement on Tuesday that could restart about 500,000 barrels a day of crude oil production.
Paul Ausick
In its December report, the International Energy Agency forecasts that the recently announced OPEC+ production cuts will not be enough to reduce supplies. Based on futures trading, oil markets appear...
Paul Ausick
OPEC and its partners have agreed to cut an additional 500,000 barrels a day of crude oil production during the first quarter of 2020. The reduction is not likely to make much difference to oil...
Paul Ausick
OPEC is expected to announce that the cartel will slash an additional 500,000 barrels a day from production, lowering daily global crude oil supply by 1.7 million barrels a day.
Paul Ausick
The semi-annual meeting of OPEC oil ministers begins Thursday in Vienna. The cartel is wrestling a number of issues that are competing for attention as it tries to determine the best path forward to...
Paul Ausick
In its monthly Oil Market Report issued Thursday, OPEC noted a drop of nearly 4% month over month in its reference crude oil price but doggedly held on to estimates that it revised lower just last...
Paul Ausick
OPEC on Tuesday released its World Oil Outlook to 2040. The cartel sees demand for renewables rising faster than demand for oil, but expects fossil fuels to continue to account for more than half of...
Paul Ausick
In its monthly report on the oil market, OPEC slightly reduced both its projections for supply and demand growth in 2019.
Paul Ausick
The drone attack on Saudi Arabia's Abqaiq facility has pushed share prices of U.S. oil and gas companies up sharply. The gains are unlikely to last
Paul Ausick