International Organizations OPEC

  • LONDON, June 27- OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq's oil minister on Thursday. A deal between the Organization of Petroleum Exporting Countries and allies including Russia to curb output by 1.2 million barrels runs out at the end of June.

  • LONDON, June 27- OPEC is likely to roll over a deal on cutting supplies at a meeting next week and keep curbs at least at the same level as those in place since Jan. 1, Iraq's oil minister on Thursday. A deal between the Organization of Petroleum Exporting Countries and allies including Russia to curb output by 1.2 million barrels runs out at the end of June.

  • LONDON, June 27- Oil slid below $66 a barrel on Thursday, pressured by concerns over whether the G20 summit will produce a breakthrough on trade and perceptions that supply is ample despite the prospect of continued OPEC curbs. Brent crude, the global benchmark, was down 75 cents at $65.74 by 1022 GMT. West Texas Intermediate crude fell 64 cents to $58.74.

  • An offshore oil rig off the coast of Norway.

    Oil slid to around $66 a barrel on Thursday, pressured by concerns over whether the G20 summit will produce a breakthrough on trade.

  • *OPEC exempt producers cut more oil than rest of group. LONDON, June 26- Oil output in Iran and Venezuela, under U.S. sanctions, has fallen by more than that of other OPEC members party to a supply cut pact, suggesting President Trump's policies have had a greater impact on oil production than OPEC itself. The actual cut is more than 2.5 million bpd, according to OPEC...

  • LAGOS, June 26- Nigeria's President Muhammadu Buhari has appointed a temporary alternate chairman for state oil company NNPC, the company said in a statement. The appointment fills a gap left by the end of Emmanuel Ibe Kachikwu's term as minister of state for petroleum. Since Kachikwu's term ended, the petroleum industry veteran and regular fixture at OPEC...

  • Expecting oil prices to decline amid escalating geopolitical tensions: Morgan Stanley

    Martijn Rats, global oil strategist at Morgan Stanley, discusses the oil market.

  • Venezuelan opposition leader and National Assembly Leader Juan Guaido speaks during a press conference with international media at Centro Plaza on June 17, 2019 in Caracas, Venezuela.

    Some 4 million people have fled the South American country since 2015 amid an economic meltdown.

  • Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.

    Oil prices rose slightly on Tuesday ahead of U.S. data expected to show crude stocks declining there, outweighing investors' concerns that U.S.-China trade tensions could weigh on fuel demand.

  • Iranian soldiers take part in the "National Persian Gulf day" in the Strait of Hormuz, on April 30, 2019.

    The prospect of another military conflict in the Middle East prompted international benchmark Brent crude to climb around 5% last week.

  • ST PETERSBURG, June 24- International cooperation on crude production has helped stabilise oil markets and is more important now than ever, Russian Energy Minister Alexander Novak said on Monday. The Organization of the Petroleum Exporting Countries and other leading oil producers had agreed to cut their combined oil output but that deal expires at the end...

  • DUBAI, June 20- Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global supply cut pact expiring at end of June, OPEC sources said on Thursday, a signal that the Gulf exporters are reluctant to boost supply. Key OPEC producers Kuwait and the United Arab Emirates are also keeping their output in July within the...

  • U.S. President Donald Trump speaks during a Cabinet meeting at the White House in Washington, D.C., U.S., on Thursday, June 21, 2018. 

    Oil jumped as much as 6% on Thursday after Iran shot down a U.S. military drone, prompting President Trump to blast Tehran on Twitter.

  • MOSCOW, June 20- Russian oil producer Lukoil's chief executive said on Thursday that the oil output deal between OPEC and its allies should stay in place permanently and that volumes of oil outlined within it could be changed.

  • TOKYO, June 20- Oil prices rose nearly 2% on Thursday on signs of improving demand in the United States, the world's biggest crude consumer, and as OPEC and other producers finally agreed to a date for a meeting to discuss output cuts. Brent crude futures rose $1.13, or 1.8%, to $62.95 a barrel at 0611 GMT. In the U.S. demand is likely to be picking up into summer and the OPEC...

  • TOKYO, June 20- Oil prices rose over 1 percent on Thursday as official data showed U.S. crude stocks fell more than expected and as OPEC and other producers finally agreed a date for a meeting to discuss output cuts. Members of the Organization of the Petroleum Exporting Countries agreed to meet on July 1, followed by a meeting with non- OPEC allies on July 2, after...

  • *OPEC, non- OPEC meetings over output deal set for July 1-2. NEW YORK, June 19- Oil futures were mostly steady on Wednesday as price support from a larger-than-expected decline in U.S. crude inventories was countered by a lull in equities. Brent crude futures settled at $61.82 a barrel, shedding 32 cents, or 0.5%.

  • *OPEC, non- OPEC meetings over output deal set for July 1-2. Brent crude futures shed 27 cents to $61.87 a barrel by 1:57 p.m. EDT. "Definitely what we saw here is more of a normal report for this type of year," said Phil Flynn, analyst at Price Futures Group in Chicago.

  • *Hopes grow for U.S.- China trade deal. *OPEC, non- OPEC meetings over output deal set for July 1-2. LONDON, June 19- Oil prices declined on Wednesday as data suggesting a smaller-than-expected fall in U.S. crude inventories countered support from hopes for a U.S.- China trade deal.

  • *OPEC, non- OPEC meetings over output deal set for July 1-2. LONDON, June 19- Oil prices ticked down on Wednesday as data suggesting a smaller-than-expected fall in U.S. crude inventories countered support from hopes for a U.S.- China trade deal. Brent crude futures were down 46 cents at $61.68 a barrel by 1042 GMT.