Opec

Oil Steadies As Investors Weigh Recession Risk Against Saudi Assurance

Business | Tsuyoshi Inajima, Bloomberg | Tuesday June 4, 2019

Rising U.S. inventories and relative calm in the Middle East over the last week or so are countering the likelihood that the Organization of Petroleum Exporting Countries and allied producers will extend their output curbs.

After Drone Attack, Saudi Arabia Stops Pumping At Major Oil Pipeline

World News | Agence France-Presse | Tuesday May 14, 2019

OPEC kingpin Saudi Arabia said it had stopped pumping crude oil along a major pipeline Tuesday following a drone attack, hours after Yemen's Huthi rebels said they had targeted vital Saudi installations.

State-Owned Refiners Turn To OPEC, Mexico, US To Make Up Iran Oil Gap: Report

Business | Thomson Reuters | Wednesday April 17, 2019

The state refiners have not yet placed orders for Iranian oil for May, when the current waiver expires, pending clarity from the United States.

Oil Prices Hit Five-Month High Above $71 On Libyan Supply Threat

Business | Thomson Reuters | Tuesday April 9, 2019

Russia, a participant in the OPEC-led supply cuts that currently expire in June, signalled on Monday it wanted to raise output when it meets with OPEC because of falling stockpiles.

Venezuela Blames "Attack" On Electric System As Another Blackout Hits

World News | Reuters | Tuesday March 26, 2019

Venezuela blamed an "attack" on its electric system for a blackout on Monday, the second to hit the OPEC nation this month, that shuttered businesses, plunged the main airport into darkness and left commuters stranded in the capital.

Oil Hovers Below 2019 Highs Amid OPEC Supply Cuts, US Sanctions

Business | Thomson Reuters | Friday March 22, 2019

Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club OPEC and by US sanctions on Iran and Venezuela.

Oil Hits 2019 Highs Amid OPEC-Led Supply Cuts

Business | Thomson Reuters | Thursday March 21, 2019

OPEC's crude oil output has slumped from a mid-2018 peak of 32.8 million barrels per day (bpd) to 30.7 million bpd in February.

Venezuela Suspends Oil Exports To India: Report

Business | Thomson Reuters | Tuesday March 19, 2019

The Indian market has been crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's crude, behind the United States.

Oil Hovers Near 2019 Highs On OPEC-Led Supply Cuts, US Sanctions

Business | Thomson Reuters | Tuesday March 19, 2019

Oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC.

Venezuela Gives US Diplomats 72 Hours To Leave, Blames Trump For Blackout

World News | Reuters | Tuesday March 12, 2019

Venezuela ordered American diplomats to leave the country within 72 hours on Tuesday after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber "sabotage" that plunged the OPEC nation into its worst blackout on record.

Crude Oil Rates Hit 2019 Highs Amid Supply Cuts

Business | Thomson Reuters | Friday February 15, 2019

The international benchmark for oil prices is at a near three-month high and set for a 4.5 per cent gain for the week. OPEC and some non-affiliated suppliers including Russia are withholding supply in order to tighten the market and prop up prices.

Oil Prices Slip, Slow Progress In Trade Talks Counters OPEC Cuts

Business | Thomson Reuters | Monday February 11, 2019

Benchmark Brent oil fell 16 cents or 0.26 per cent to $61.94 a barrel at 12:20 GMT.

Saudi Launches New Plan To Attract Investments Worth Over $400 Billion

World News | Agence France-Presse | Monday January 28, 2019

Saudi Arabia on Monday launched an ambitious programme which it hopes will attract $427 billion in investments in the industrial and logistics sectors, as the OPEC kingpin bids to reduce dependence on oil.

Saudi Arabia To Slash Oil Exports By 800,000 Barrels Daily In January

World News | Agence France-Presse | Wednesday January 9, 2019

OPEC kingpin Saudi Arabia said Wednesday it would slash its oil exports by 800,000 barrels per day in January and promised further cuts as producers move to shore up tumbling prices.

Fuel Rates Touch New Low For 2018, Petrol Below Rs 69-Mark In Delhi

Business | Indo-Asian News Service | Monday December 31, 2018

Oil prices, however, are likely to gain in the days ahead as the production cut by OPEC and non-OPEC countries comes into effect on January 1.