Oil Holds Near $50 as OPEC+ Hesitates Despite Surplus
Oil held near $50 a barrel in New York on signs that OPEC and its allies probably won’t go ahead with a much-touted emergency meeting, even as a global oversupply piles up.
OPEC Nations, Russia Agree to Cut Oil Output to Lift Prices
The OPEC oil-producing countries and ally Russia said Dec. 6 they have agreed to cut their crude production by an extra 500,000 barrels a day as they try to support global energy prices.
OPEC Nations Grapple With Oversupply of Oil
The world may be heading for an even greater oversupply of oil, and that possibility — which could drive down fuel and energy prices — is hanging over members of the OPEC cartel as they head into negotiations Dec. 5.
OPEC+ Gambles That US Shale’s Golden Age Is Over
When the Organization of Petroleum Exporting Countries meets this week, ministers will discuss whether to extend their current output target, because they believe relentless U.S. oil production growth will slow rapidly next year.
Oil Trades Near Seven-Week High Amid Gulf Storm, 2020 Outlook
Oil traded near a seven-week high as supply risks from a storm in the Gulf of Mexico and falling U.S. stockpiles were countered by a weak market outlook from OPEC in 2020.
Oil Nears $70 as OPEC Tightens Supply, Hopes for Trade Deal Grow
Oil rose near $70 a barrel in London, a level last breached in November, as global crude supplies tightened while hopes for an end to the U.S.-China trade impasse lifted financial markets.
Trump Asks OPEC to Increase Oil Output to Keep Prices in Check
President Donald Trump renewed his criticism of OPEC, saying the cartel should increase production because prices are getting “too high.”
Oil Rises After OPEC Reaffirms Commitment to Production Cuts
Oil in New York rose to the highest level this year after OPEC and its partners agreed to go beyond their pledged supply curbs in the coming months.
Oil Imports at 23-Year-Low, Output Hits Another Record
The United States imported the least amount of crude oil on a weekly basis in 23 years, as OPEC-members Saudi Arabia and Venezuela cut their shipments to unusually low levels.
Trump Attacks OPEC Again, Warning Against High Oil Prices
President Donald Trump resumed his attacks on OPEC, saying the world is too fragile to handle a price hike and urging the cartel to “relax and take it easy.”
February 25, 2019