International Organizations OPEC

  • 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.

  • Oil refinery and storage Australia

    Oil futures edged up on Wednesday as government data showed U.S. crude inventories fell more than expected, while the prospect of a trade deal between Washington and Beijing also supported prices.

  • *OPEC, non- OPEC meetings over output deal set for July 1-2. LONDON, June 19- Oil prices were broadly steady 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 18 cents at $61.96 a barrel by 0839 GMT.

  • DUBAI, June 19- OPEC has agreed to move its next meeting to July 1, followed by a meeting with non- OPEC allies on July 2, according to new dates posted on the website of the Organization of the Petroleum Exporting Countries.

  • OPEC may need to cut supply again: Credit Suisse

    Saul Kavonic of Credit Suisse says the "bigger risk" for oil prices comes from supply-side factors, such as OPEC cuts, and not potential demand increases.

  • LONDON, June 18- OPEC has again proposed to move dates of its next meeting, now suggesting July 1-2, two sources familiar with the matter said, as Saudi Arabia, Iran and non-OPEC Russia are struggling to agree a compromise. Previous proposals included dates for a meeting of the Organization of the Petroleum Exporting Countries followed by a meeting with non- OPEC...

  • LONDON, June 18- OPEC and non- OPEC states are discussing holding their ministerial meetings on oil output policy on July 10-12 in Vienna, a date range proposed by Iran, OPEC sources said on Tuesday. The Organization of the Petroleum Exporting Countries, Russia and other producers have since Jan. 1 implemented a deal to cut oil output by 1.2 million barrels per day.

  • Oil prices rose more than $1 a barrel on Tuesday after U.S. President Donald Trump said he would hold an extensive meeting with Chinese President Xi Jinping at the G20 summit later this month.

  • OPEC is scheduled to meet next Tuesday, but Saudi Arabia wants to push it back. Abhishek Deshpande, J.P. Morgan head of oil market research and strategy, joins 'The Exchange' to discuss how the movement of dates is crucial for oil markets.