Why Does OPEC Even Hold Meetings?
The Organization of the Petroleum Exporting Countries (OPEC) has officially agreed to extend its production cuts for an additional nine months. And the sun rose in the east. The agreement ...Read Full Story »
OPEC
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The Russian Tail Wags the OPEC Dog
This past Saturday at the G-20 meeting in Osaka, Russian President Vladimir Putin announced that Russia and Saudi Arabia had struck a deal to maintain their current output cuts at ...Read Full Story »
Can OPEC and Russia Combined Stop Falling Oil Prices?
Monitoring the price of oil in a macroeconomic situation with volatile financial markets can get a bit tricky. Now that oil officially has entered into a bear market by falling ...Read Full Story »
OPEC Crude Production Slipped in February on Saudi, Venezuelan Reductions
In its Monthly Oil Market Report for March, released Thursday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's month-over-month average price for its reference basket ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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 ...Read Full Story »
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