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International Organizations OPEC

  • MOSCOW, Jan 21- Russia has cut its oil output by around 100,000 barrels per day in January as part of the global deal between Moscow and OPEC, Russian Energy Minister Alexander Novak was quoted as saying by TASS news agency on Saturday. "That said, our companies are moving ahead of schedule. He added that plans to discuss energy cooperation with his Saudi counterpart...

  • CARACAS, Jan 20- Venezuelan consumer prices rose 800 percent in 2016 while the economy shrank 18.6 percent, according to preliminary central bank figures seen by Reuters, the sharpest economic contraction in 13 years and the worst inflation reading on record. An extended slump in oil prices has turned the OPEC nation's once-prosperous economy into a mirror of...

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia will meet in Vienna this weekend to establish a mechanism to verify compliance with a deal to cut 1.8 million barrels per day of output, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia will meet in Vienna this weekend to establish a mechanism to verify compliance with a deal to cut 1.8 million barrels per day of output, OPEC's secretary general told Reuters.

  • Pumpjacks operating near Ruehlermoor, Germany.

    OPEC and other producers will establish a mechanism to verify they are sticking to a deal to reduce output at a weekend meeting.

  • Jan 20- U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies that has boosted prices over $50 a barrel since early December. Almost two-thirds of the rigs added since May were in the Permian basin, the nation's biggest shale oil formation located...

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia, will meet in Vienna to establish a mechanism to verify compliance with a deal to cut output 1.8 million barrels per day, OPEC's secretary general told Reuters.

  • Jan 20- U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies that has boosted prices over $50 a barrel since early December. The Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude...

  • *Producers to establish compliance mechanism at meeting- OPEC. A weekend meeting in Vienna of members of the Organization of the Petroleum Exporting Countries and some producers outside of the group, including Russia, will establish a compliance mechanism to verify producers are sticking to a deal to reduce output by 1.8 million barrels per day, OPEC's...

  • CARACAS, Jan 20- Venezuelan consumer prices rose 800 percent in 2016 while the economy contracted by 18.6 percent, according to preliminary central bank figures seen by Reuters, the sharpest contraction in 13 years and the worst inflation reading on record. The extended slump in oil prices has turned the OPEC nation's once-prosperous oil-boom economy into a...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • West Texas Intermediate crude oil futures were trading up 20 cents at $51.57 per barrel at 0038 GMT. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far too soon"...

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Swelling U.S. crude stockpiles limited oil's rebound after the International Energy Agency said crude markets had been tightening.

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far too soon"...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices rose on Thursday, but swelling crude stockpiles in the United States limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far...