OPEC

Unilateral measures to cut Iranian oil exports to zero will not produce the results desired by the Trump White House. 

OPEC oil supply hit a four-year low in April due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Arabia.

As the US ends waivers that let countries buy Iranian crude, this threatens to squeeze oil supplies in an already tight market.  The decision may also jeopardize the deal that OPEC and…

The pact between OPEC, Russia and its allies is "here to stay," a longtime adviser at Saudi Arabia's energy ministry said, playing down concerns that the alliance could end given Russia's…

OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of US sanctions on Iran and…

Investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said. Barkindo was talking…

OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year as supplies from their rivals increase faster than world demand. Key OPEC members and their…

OPEC and its allies will probably achieve their goal of draining oversupply from the oil market and boosting prices by next month, says Jeff Currie, global head of commodities research at…

OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Persian Gulf Arab allies over-delivered on the group’s supply pact while…

Oil producing group OPEC is responsible for salvaging the entire oil industry with its deal to curb output, OPEC's secretary general told CNBC, but the US shale revolution has helped to prevent…

Oil inched lower on Tuesday to extend losses of more than 3 % from the previous session, easing after US President Donald Trump called on OPEC to rein in its efforts to boost prices.…

OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, when asked to comment on a US House committee passing a bill targeting OPEC oil…

Iran's heavy crude oil gained $1.45 or 2.6% per barrel in January compared to December when it was traded at $54.84 per barrel.  Iran Heavy, one of the country's main grades for export,…

A committee from the US House of Representatives has approved a bill aimed at making OPEC members liable to US antitrust legislation, Reuters reported, adding the prospects of the bill ending up…

OPEC crude output fell the most in two years last month as the group implemented almost 80% of its new production cuts deal.  Top exporter Saudi Arabia cut deeper than pledged, while its…

The head of a US shale oil company on Thursday sang the praises of OPEC for its price-bolstering production cuts of the last two years, a message the organization's secretary general Mohammed…

OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Reuters. Worried by…

Crude oil production from members of OPEC is expected to fall to below 30.73 million barrel per day by the end of this year, the group's lowest monthly output since February 2015, the US Energy…

OPEC plans to publish this week quotas for individual countries under the new OPEC/non-OPEC production cut deal agreed upon on December 7 and in force since January 1, an OPEC source told…

The oil market is on its way to rebalancing, and the 1.2 million barrels per day in supply cuts by OPEC and its allies will be enough to finish the job in the first half of this year, UAE Energy…

OPEC crude cargoes leaving for the United States in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show.

If OPEC does not follow through with its commitment to reduce oil production throughout this year, Brent crude prices could struggle to rise, according to J.P. Morgan’s head of Asia Pacific oil…

Kuwait's new oil minister, Khaled Al-Fadhel, has pledged an ongoing commitment to OPEC's production cuts in his first statement to the Kuwait News Agency after being appointed last week. OPEC's…

OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market…

OPEC and its allies have formalized their production quotas under their new supply deal, with Saudi Arabia, the world's largest crude exporter, committing to a 322,000 bpd cut from its October…