World Wide

Rebalancing Act: OPEC Extends Production Cuts For Nine Months

Demand is expected to pick up in the second quarter, according to OPEC’s president. But that doesn’t mean another extension is off the table.

May 25 2017 - 2:20pm

OPEC Nearing Deal To Extend Oil Output Cut To March 2018

OPEC meets in Vienna on May 25 to consider whether to prolong the accord reached in December in which OPEC and 11 non-members agreed to cut oil output by about 1.8 MMbbl/d in the first half of 2017.

May 24 2017 - 10:40am

Oil Prices Rise As Market Awaits Extended OPEC Cuts

Both crude benchmarks have gained more than 10% from their May lows below $50 per barrel, rebounding on a consensus that OPEC and other producers will maintain strict limits on oil production.

May 24 2017 - 7:05am

OPEC, Non-OPEC Hold Informal Talks To Nail New Oil Cuts

OPEC and non-OPEC ministers meet for informal consultations in Vienna on May 24 in a last-ditch bid to agree on the duration of oil output cuts.

May 24 2017 - 7:00am

DONG Energy To Sell Oil, Gas Business To Ineos For $1.3 Billion

DONG Energy agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said May 24, the latest in a string of North Sea deals.

May 24 2017 - 6:50am

Saudi Arabia, Iraq Agree Oil Output Cut Needs Extension

Saudi Energy Minister Khalid al-Falih said he did not expect any opposition within OPEC to extending the curbs for a further nine months, speaking after he met his Iraqi counterpart in Baghdad.

May 22 2017 - 12:10pm

Hart Chart: OPEC Revenues Plummet To 12-Year Low

Ahead of OPEC’s May 25 meeting, the U.S. Energy Information Administration noted the hole that the oil price downturn has opened in member nations’ pockets.

May 22 2017 - 11:20am

Netherlands To Receive First LNG Cargo From Cheniere's Sabine Pass Plant

The Netherlands is set to receive its first LNG delivery from Cheniere Energy's Sabine Pass export plant in the U.S., according to shipping data.

May 22 2017 - 7:55am

OPEC On Course Toward Supply Cut Extension

OPEC and other oil producers are on course to agree on an extension of supply cuts at a meeting on May 25, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut.

May 22 2017 - 8:00am

Sources: OPEC Panel Looking At Deepening, Extending Oil Cuts

One source said a deeper cut in output was an option depending on estimated growth in supply from non-OPEC producers, mainly U.S. shale oil firms, among other scenarios.

May 19 2017 - 8:21am