OPEC

OPEC Lifts 2018 Oil Supply Based on US Production Growth

In its Monthly Oil Market Report, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket rose 7.7% to ...
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Crude Oil Price Turns Higher on Big Inventory Draw

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning, showing that U.S. commercial crude inventories decreased by 6.9 million barrels last week, maintaining a total ...
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OPEC Lifts 2018 Oil Demand Total to 98.51 Million Barrels a Day

In its Monthly Oil Market Report for January, released Thursday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket rose ...
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Will OPEC Stick With Its Production Cuts If Oil Prices Keep Rising?

The production cuts initiated last January by Organization of the Petroleum Exporting Countries (OPEC) and its allies — particularly Russia — had drawn down oil supplies in the world's developed ...
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US Oil Rig Count Slips, Price on Track to Close Flat for the Week

In the week ended December 15, 2017, the number of rigs drilling for oil in the United States totaled 747, down by four from the prior week and up by ...
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Crude Oil Price Slips on Large Rise in Gasoline Inventory

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning, showing that U.S. commercial crude inventories decreased by 5.1 million barrels last week, maintaining a total ...
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US Production Threatens OPEC-Led Effort to Lift Crude Prices

In its Monthly Oil Market Report for December, released Wednesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket rose ...
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How Exxon Mobil Could Return as a Top Dow Stock in 2018

Exxon Mobil Corp. (NYSE: XOM) has been a serious Dow Jones Industrial Average laggard in 2017. The fall from grace has been monumental considering that Exxon has a market value ...
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OPEC Deal, Tax Reform Drive Friday Futures

Seeing that Friday futures for all three major stock indexes were up by at least three-quarters of a point makes one wonder how much the market would have risen if ...
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Crude Oil Prices Dip as OPEC Fails to Corral Russia: Update

UPDATE: A report in The Wall Street Journal indicates that OPEC has now received a commitment from Russian and other non-OPEC producers to continue limiting production through the end of ...
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6 Most Important Things in Business Today

Billions of dollars of bitcoin have been lost or deleted, according to the New York Post: Of the more than 16.7 million bitcoins in circulation, nearly 4 million could be ...
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6 Most Important Things in Business Today

S&P has issued a report that said Venezuela was in default. According to Bloomberg: Venezuela’s grand gathering with creditors Monday lasted all of 30 minutes and didn’t produce anything of ...
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OPEC Reports October Production Fell, Prices at Multiyear High

In its Monthly Oil Market Report for November, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket rose ...
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OPEC World Oil Outlook: Higher Demand, More Competition From Electric Vehicles

The Organization of the Petroleum Exporting Countries (OPEC) released the 2017 version of its World Oil Outlook Tuesday morning. Perhaps the most interesting projection in the new Outlook calls for ...
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6 Most Important Things in Business Today

"Jigsaw" was the biggest winner at last week's box office. According to Box Office Mojo: With an estimated $16.25 million, Lionsgate's Jigsaw brought the Saw franchise back to the big ...
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