OPEC to No Longer Release Specific Oil Prices to Avoid US Legal Risk: Reuters
OPEC has advised its members to not mention oil prices when discussing policy in order to avoid US legal action over manipulating the market, sources close to OPEC said.
OPEC | Egypt Oil & Gas - Part 19
OPEC’s 2019 Oil Demand Growth Forecast Falls Again
OPEC has cut its 2019 global oil demand growth forecasts for the third straight month, citing trade disputes and volatile emerging markets, particularly in key consuming countries.
Traders Eye $100 WTI Ahead of Iran Sanctions
The number of oil traders betting on $100-per-barrel WTI by 2019 has surged in the past week.
OPEC non-OPEC Producers Won’t Increase Oil Output: Sources
A meeting between allied OPEC and non-OPEC oil producers to be held on September 23 will likely not result in any further increase in crude oil production beyond what was agreed in June.
OPEC-led Group Able to Cover Supply Shortage: Russian Energy Minister
Russian energy minister Alexander Novak has expressed confidence that the OPEC-led group of crude exporters are capable of covering potential supply shortages.
OPEC Secretary-General: Oil Consumption to Hit 100M b/d This Year
Global oil demand is expected to reach 100 million barrels per day (b/d) later this year, much earlier than previously expected, OPEC Secretary-General Mohammad Barkindo stated on September 5.
UAE Oil Output to Rise to 3M b/d
The UAE is raising its crude production to almost 3 million barrels per day (b/d) by increasing output from its offshore Umm Lulu oilfield.
OPEC Supply Cuts: Oil Production 9% Lower than Agreed
Signatories to the OPEC non-OPEC supply cut agreement reduced production in July by 9% more than agreed, according to an official committee.
OPEC to Agree Oil Supply Monitoring Mechanism: Kuwait Minister
OPEC and non-OPEC petroleum producing countries will agree to introduce a mechanism for monitoring crude oil production before the end of 2018, Kuwaiti Oil Minister Bakheet Al-Rashidi stated.
Saudi Arabia Cuts Oil Output after OPEC Low Demand Forecast
Saudi Arabia was forced to cut oil production by more than 200,000 barrels per day (b/d) last month after OPEC’s forecasted demand figures were lower than expected, raising concerns about oversupply.
