International Organizations OPEC

  • *U.S. passes Hong Kong rights bills, adding to tension with China. NEW YORK, Nov 21- Oil prices rose more than 2% on Thursday to the highest in nearly two months following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020 and fresh signs that China had invited U.S. trade negotiators for a new round of talks. OPEC meets on Dec. 5 at its...

  • *U.S. passes Hong Kong rights bills, adding to tension with China. LONDON, Nov 21- Oil prices rose on Thursday after a Reuters' report showed OPEC and its allies are likely to extend output cuts until mid-2020 while fresh reports emerged that China has invited U.S. negotiators for a new round of talks. To support oil prices, OPEC and its allies are likely to extend output...

  • A man working in a filling station of Sinopec, China Petroleum and Chemical Corporation, in Shanghai, China, on March 22, 2018.

    Oil prices rose on Thursday after a Reuters' report showed OPEC and its allies are likely to extend output cuts until mid-2020 while fresh reports emerged that China has invited U.S. negotiators for a new round of talks.

  • CARACAS, Nov 20- Venezuelan President Nicolas Maduro on Wednesday said some 30 million barrels of oil sitting in storage tanks would serve as backing for the OPEC nation's state-run cryptocurrency, the petro, which has been sanctioned by the United States. The statement came as part of a renewed push by Maduro's socialist government to promote use of the petro...

  • Oil field workers with Wisco work on a pump jack in North Dakota, the United States, on November 6, 2013.

    Oil prices turned positive on Wednesday, reversing two days of losses, following a smaller-than-expected build in US inventories.

  • *Russia, OPEC allies meet in early December in Vienna. MOSCOW, Nov 19- Russia is unlikely to agree to deepen cuts in oil output at a meeting with fellow exporters next month, but could commit to extend existing curbs to support Saudi Arabia, three sources said on Tuesday. The Organization of the Petroleum Exporting Countries meets on Dec. 5 at its headquarters in...

  • *Russia, OPEC allies meet in early December in Vienna. MOSCOW, Nov 19- Russia is unlikely to agree to deepen cuts in oil output at a meeting with fellow exporters next month, but could commit to extend existing curbs to support Saudi Arabia, three sources said on Tuesday. The Organization of the Petroleum Exporting Countries meets on Dec. 5 at its headquarters in...

  • Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018.

    Oil fell more than 3% on Tuesday on concerns about excess global crude supply and limited progress toward resolving a U.S.-China trade dispute that has clouded the outlook for oil demand.

  • *Investors look to U.S.- China talks, OPEC supply deal. HOUSTON, Nov 18- Oil prices fell almost 2% on Monday, erasing last week's gains and tumbling alongside U.S. stocks on uncertainty over a trade deal between the United States and China. When it falters, prices get punished, "said John Kilduff, a partner at Again Capital LLC in New York.

  • KUWAIT/ DUBAI, Nov 18- Kuwait's caretaker prime minister Sheikh Jaber al-Mubarak declined to be reappointed as premier in the OPEC oil producer on Monday, rebuffing the offer from the ruling emir after submitting the government's resignation last week. Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah, 90, earlier on Monday removed his son, Defence Minister...

  • An employee holds a control panel as barrels are filled with lubricant oil in Torzhok, Russia, on March 21, 2014.

    Oil prices fell more than 1% on Monday, erasing last week's gains and tumbling alongside U.S. stocks on uncertainty over a trade deal between the United States and China.

  • *Investors look to U.S.- China talks, OPEC supply deal extension. SINGAPORE, Nov 18- Oil prices inched higher on Monday, extending steady gains from the previous week, with investors awaiting fresh clues over prospects for a trade deal between the United States and China and shrugging off concerns over steadily rising oil supplies. "In the short term, U.S.- China...

  • *U.S., China trade talks to continue Friday- U.S. commerce chief IEA sees major challenge to OPEC+ oil demand in 2020. NEW YORK, Nov 15- Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.- China trade deal, but worries about increasing crude supplies capped prices. Commerce Secretary Wilbur Ross said in an interview on...

  • *White House adviser upbeat on U.S.- China trade talks. White House economic adviser Larry Kudlow said on Thursday a deal was "getting close", citing what he described as very constructive discussions with Beijing. OPEC Secretary General Mohammad Barkindo had painted a more upbeat picture this week, saying growth in rival U.S. production would slow in 2020,...

  • *White House adviser upbeat on U.S.- China trade talks. OPEC Secretary General Mohammad Barkindo had painted a more upbeat picture this week, saying growth in rival U.S. production would slow in 2020, although a report by the group had also said demand for OPEC oil was expected to dip. OPEC and its allies have cut supply to prop up prices and are expected to discuss...

  • *OPEC, allies to discuss supply-curb policy on Dec. 5-6. *Output from de facto OPEC leader Saudi rebounds sharply. The IEA estimated non- OPEC supply growth would surge to 2.3 million barrels per day next year compared to 1.8 million bpd in 2019, citing production from the United States, Brazil, Norway and Guyana.

  • LONDON, Nov 15- The Organization of the Petroleum Exporting Countries and its allies face stiffening competition in 2020, the International Energy Agency said on Friday, adding urgency to the oil producer group's policy meeting next month. "Surging non- OPEC supply explains this drop, with growth of 2.3 million barrels per day next year versus 1.8 million bpd in...

  • *White House adviser says U.S.- China trade talks going well. Optimism that the United States and China could soon sign an agreement to end their trade war also seeped into the market after White House economic adviser Larry Kudlow said a deal was "getting close," citing what he called very constructive discussions with Beijing. Brent crude futures were up 28...

  • Employees pass beneath pipes leading to oil storage tanks in Russia on February 4, 2014.

    Oil prices rose on Friday as OPEC's outlook for oil demand next year fueled hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month.

  • TOKYO, Nov 15- Oil prices posted early gains as OPEC's outlook for oil demand next year fueled hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month. Optimism that the United States and China could soon sign an agreement to end their trade war also seeped into the market after White House...