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OPEC meeting News

17 Jan 2018

Oil prices slip as analysts warn of correction after 13% gain in the past month

Brent crude futures were at $69.07 a barrel at 0441 GMT, down from a high of $69.37 earlier in the day and 18 cents below their last close.

16 Jan 2018

Oil prices near three-year highs, supported by healthy demand

Prices have been driven up by production curbs in OPEC nations and Russia, as well by strong demand thanks to healthy economic growth.

27 Nov 2017

US oil dips on increased drilling, but OPEC cuts support global markets

US crude production has risen by 15 percent since mid-2016 to 9.66 million barrels per day, not far from top producers Russia and Saudi Arabia, and increasing drilling activity for new production means output is expected to grow further.

22 Nov 2017

US crude extends rally to $58 per barrel, first time since 2015

Brent crude, the global benchmark, was up 57 cents at USD 63.14.

21 Nov 2017

Oil eases as traders, investors grow edgy ahead of OPEC

Oil has been under pressure for the last two weeks since peaking in early November.

25 Aug 2015

Without Saudi support, talk of OPEC emergency meeting is just noise

Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.

02 Jun 2015

Oil prices drop ahead of OPEC meeting

Oil prices dipped Monday as the dollar strengthened and the market looked ahead to an OPEC meeting expected to keep output high.

03 Dec 2014

Oil producers pump more while urging OPEC cut: Kuwait

Kuwait on Wednesday accused oil-producing countries that had urged OPEC to cut its output, in a bid to curb sliding prices, of doing the opposite by pumping more crude.

28 Nov 2014

Oil price slumps as OPEC targets US shale

Crude oil prices hit multi-year lows this week after OPEC held output levels despite global oversupply, in a move perceived by some analysts as an attack on booming US shale energy.

28 Nov 2014

Brent near four-year low after OPEC decides against output cut

OPEC`s decision, which came after Saudi Arabia blocked calls from poorer members of the Organization of the Petroleum Exporting Countries to cut, led to a rout in oil prices on Thursday.

28 Nov 2014

Crude hits 4-1/2 year low after OPEC decides against output cut

U.S. crude futures tumbled nearly $6 on Friday to the lowest since May 2010 after OPEC decided against cutting output, leaving the market with excess supply that deepened oil`s months-long rout.

27 Nov 2014

Rosneft's Sechin says oil could fall below $60/barrel next year

Russia`s most powerful oil official Igor Sechin said that oil prices could fall below $60 by mid-way through next year, speaking the same day OPEC met in Vienna and left its output targets unchanged.

27 Nov 2014

OPEC move to keep oil output target sparks price slump

OPEC on Thursday decided against cutting the amount of oil it produces despite a glut in global supplies, triggering a five-dollar collapse in crude prices.

27 Nov 2014

Oil prices fall to four-year lows as OPEC production cut looks unlikely

Oil prices fell to four-year lows on Thursday as it appeared unlikely producer club OPEC would decide to cut output in support of prices at a meeting this week, and as increasing Chinese and US stocks boosted available supplies.

27 Nov 2014

Oil extends losses ahead of key OPEC meeting

The 12-nation Organization of the Petroleum Exporting Countries will hold one of its toughest and most significant meetings in recent years in Vienna later on Thursday.

24 Nov 2014

Oil prices mixed ahead of key OPEC meeting

The OPEC will hold one of its toughest and most significant meetings in recent years on Thursday with members under pressure to address falling prices.

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