Oil has rallied about 23% this year as the Organisation of Petroleum Exporting Countries and allies curtailed output
opec oil price
Largest oil producer
OPEC oil production falls as Saudi Arabia slashes output
OPEC says it produced 797,000 fewer barrels per day in January than in the previous month
Emerging Markets
Three reasons why the global economy looks to be weak in 2019
Tariffs, oil, currency and interest rates… everything is in flux, and the outlook for 2019 is looking soft, if not bleak
High oil prices
Saudi Arabia’s energy minister meets US counterpart after OPEC cuts
US Energy Secretary Rick Perry discussed the ‘state of the oil market’ and energy cooperation between the two countries with Khalid al-Falih
crude oil price
Oil extends gain on OPEC’s output pact
Brent futures rose as much as 1.1 percent after jumping 2.7 percent on Friday as nations including Saudi and Russia committed to removing 1.2 million barrels a day of output,
non-OPEC
Prices surge as OPEC reaches agreement
As part of the deal, OPEC group countries are contributing 800,000 barrels per day as a cut, and the non-OPEC countries will be contributing 400,000 barrels per day
non-OPEC
OPEC back in crunch talks as Russia resists a large oil cut
Discussions now centre on a proposed reduction from OPEC and its allies of about 1 million barrels a day, with OPEC itself shouldering 650,000 barrels of the burden
Jamal Khashoggi
OPEC meets as Trump calls for oil taps to be kept on
Oil ministers from 20 or so countries busily criss-crossed the Austrian capital on Wednesday for preparatory negotiations ahead of the two-day meet at the headquarters of the Organization of Petroleum Exporting Countries
High oil prices
Oil continues downward trend as Trump blasts Saudi plan to cut production
Saudi Energy Minister Khalid Al-Falih said producers need to cut about 1 million barrels a day from October production levels
Abu Dhabi
OPEC+ weighs output cut as threat of new surplus sinks prices
A technical committee representing the OPEC+ coalition projected that a global oil surplus will resurface in 2019 if they continue pumping at current rates
Abu Dhabi
Major oil producers meet in Abu Dhabi to consider cuts after price slide
Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October
crude oil price
Saudis raise Asia crude pricing as US puts curbs on Iran
The higher Asia pricing for Medium and Heavy crudes suggests that Saudi Aramco expects the market for those grades to tighten
crude oil price
Saudi readies to boost supplies over Iran oil sanctions
Saudi Arabia is the only producer with significant spare capacity of around two million bpd that can be tapped into to compensate for the loss of Iranian supplies
Crown Prince Mohammed bin Salman
Oil drops on Saudi assurance and hopes for US waivers on Iran
Saudi Arabia can tap its spare production capacity immediately to offset any declines in Iranian crude exports, the kingdom’s crown prince said in an interview
Crown Prince Mohammed bin Salman
Saudi prince sees deal with Kuwait to restart oil fields ‘soon’
The fields of Khafji and Wafra are located in Neutral Zone, a portion of the two countries’ border that has been undefined for almost a century
Crude exporter
Saudis and Russia pumping an extra 1m barrels a day while the market shrugs
Russia is pumping record volumes of crude and Saudi Arabia is almost there too, with little reaction from the market
crude oil price
Oil holds gains, eyes on $100 a barrel, but Asia markets down
Crude has motored in recent weeks on concerns about supplies after sanctions are imposed on Iran next month