OPEC

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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6 Most Important Things in Business Today

The president got China to cut a key tariff. According to Reuters: U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars, buoying shares in ...
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Can Saudi Arabia Stop the Slide in Crude Prices?

The meeting of the G20 developed economies that began in Buenos Aires Friday has plenty on its agenda, not least of which is what two of the world's top three ...
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6 Most Important Things in Business Today

President Trump plans to increase tariffs. According to The Wall Street Journal: President Trump, days before a summit with China’s leader, said he expects to move ahead with boosting tariff ...
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Saudi Arabia to Cut Production, Likely Ending Drop in Oil Prices

The unprecedented drop in oil prices may be over. A bear market dropped the price of crude from $76 to $60 in one month. Much of the cause was an ...
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