UK Prime Minister Boris Johnson shared optimism about Saudi Arabia raising oil outputs, after his meeting with the Saudi Crown Prince, but received no guarantees that it would occur
opec oil price
Brent Crude
Video: OPEC agrees to 10 million barrels cuts
Russia and Saudi Arabia have called off their brutal price war and are now pushing dozens of major crude producers toward a deal that would slash production.
Brent Crude
Video: Why Saudi Arabia launched an oil price war
Oil prices had one of their biggest ever falls after the effective collapse of an agreement between Saudi Arabia-led OPEC and Russia. The agreement was designed to support the market against the impact of coronavirus.
Abu Dhabi
Saudi raps oil producers over flouting of output cuts
Prince Abdulaziz said it was imperative to restore stability in the oil market where prices have slumped to below $60 a barrel
Abu Dhabi
OPEC+ meets in Abu Dhabi with deeper cuts off the agenda for now
Crude has lurked in the low $60s for most of the summer amid escalating tensions between the US and China
Crude price
Oil producers should get used to $60 per barrel, says Oman minister
Mohammed bin Hamad Al Rumhi said oil growing to $80 per barrel is ‘highly unlikely’
Crude price
Oil extends gains as new Saudi minister signals cuts to continue
Prince Abdulaziz bin Salman, appointed at the weekend after the dismissal of Khalid Al-Falih, said there won’t be any radical change in the kingdom’s oil policy
crude oil price
OPEC ‘destabilising’ the crude oil market, says Emirates NBD analyst
Despite the official OPEC philosophy being to stabilise the crude market, their actions in the last two years have done the opposite, says Edward Bell
Global oil demand
Opinion: why we still need OPEC
Since oil’s commercialisation, there has always been a need to manage the market in one way or another, and address some counter-intuitive realities
Crude
Brent crude short-selling rises to 5-month high
Another sign of waning faith in a week that saw prices drop amid a host of sluggish reports on global manufacturing
oil output
OPEC agrees to extend oil output cuts into 2020
Delegates say ministers in meeting in Vienna have agreed to prolong their supply curbs by another nine months
Abu Dhabi
OPEC poised to extend oil output cuts for rest of year
Saudi Arabia, the UAE and Iraq are all in favour of restraining production amid signs of faltering demand
High oil prices
Oil prices hit new 2019 high after Iran sanctions move
Brent North Sea crude reaches $74.70 per barrel on Tuesday, the highest point since early November
Khalid Al Falih
Saudi Arabia sees no need for further oil output cuts
Saudi energy minister Khalid Al-Falih says oil markets are now ‘healthy’
crude output
Saudi Arabia is said to extend deep oil output cuts into April
The move is the latest sign Riyadh is determined to regain control of the oil market as prices remain well below the level that many OPEC members need to cover their government spending
Crude price
UAE to continue oil output adjustments until market rebalances
UAE compliance for the month of February 2019 will help to bring balance and stability to the global oil market, said Suhail Al Mazrouei
crude production
Saudis hold firm on oil output cuts after Trump says ‘relax’
Trump renewed his pressure on OPEC and its allies after they started a new round of production cuts last month