OPEC

Grumbling From Russian Oil Giant Rosneft Over Production Cuts: Reuters

The chief executive officer of one of Russia's largest oil companies, Rosneft, reportedly has complained in a letter to President Vladimir Putin that going along with production cuts proposed by ...
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US Senate Takes Aim at OPEC, but Will It Follow Through?

On Thursday, a bipartisan group of four U.S. Senators introduced legislation titled the No Oil Producing and Exporting Cartels Act (NOPEC) that would give the U.S. Department of Justice authority ...
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Outlook for 2019 Oil Market ‘Not Very Cheerful’: IEA

In its monthly Oil Market Report for January released Friday morning, the International Energy Agency (IEA) said that global crude supplies dropped by 950,000 barrels a day to total 100.6 ...
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IEA Wobbles on Impact of OPEC Cuts, Citing Growing US Production

In its monthly Oil Market Report for December released Thursday morning, the International Energy Agency (IEA) said that global crude supplies dropped by 360,000 barrels a day to total 101.1 ...
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Crude Oil Price Pared Gain Following Modest Inventory Drop

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories decreased by 1.2 million barrels last week, maintaining a total ...
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Saudi Arabia Boosted Oil Supplies by 450,000 Barrels in November

In its Monthly Oil Market Report for December, released Wednesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that its month-over-month average price for its reference basket plunged ...
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OPEC and Partners Agree to 1.2 Million Barrel per Day Production Cut

Although an official announcement has not yet been made, reports from the Vienna meeting between the Organization of Petroleum Exporting Countries and its Russia-led partners (aka, OPEC+) indicate that OPEC has ...
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6 Most Important Things in Business Today

The chief financial officer of Huawei Technologies will be in a Canadian court today. According to Reuters: A top executive of China’s Huawei Technologies Co Ltd who is under arrest ...
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Crude Oil Price Remains Sunk Following Massive Inventory Drop

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning showing that U.S. commercial crude inventories decreased by 7.3 million barrels last week, maintaining a total ...
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OPEC Likely to Cut Production: 4 Stocks to Buy

This fall, and again this week, has surely proved to be one of the most stomach-churning periods for investors since the beginning of 2016. Nowhere was the damage worse than ...
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What 15 Countries Are Members of OPEC, the World’s Giant Oil Organization?

OPEC, the Organization of Petroleum Exporting Countries, is the most powerful group in the world of crude exploration, production and shipment to other countries. It is made up of 15 ...
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6 Most Important Things in Business Today

An important Chinese executive was arrested in Canada based on a request by the United States. According to Reuters: The daughter of Chinese tech giant Huawei’s founder has been arrested ...
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6 Most Important Things in Business Today

Volkswagen may make more vehicles in the United States. According to Reuters: Volkswagen AG’s chief executive said on Tuesday after a meeting at the White House that the German automaker ...
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6 Most Important Things in Business Today

The United States cannot prevent Iran's export of oil, the country said. According to Reuters: The United States will not be able to stop Iran exporting its oil and any ...
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OPEC, Canada Make Moves to Raise Crude Prices

At last week's G20 meeting in Buenos Aires, Saudi Arabia and Russia agreed to extend their crude oil production cuts in an effort to raise the price of benchmark Brent ...
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