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.
March 19, 2019OPEC News Updates
Oil Rises After OPEC Reaffirms Commitment to Production Cuts
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.
February 27, 2019Trump 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.â€
February 25, 2019OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives
OPEC reduced its estimate for the amount of crude the world needs it to pump this year as U.S. production continues to thrive and the demand outlook falters.
February 12, 2019Oil Dips as China Slowdown Signals Demand Drop
Crude skidded to its worst loss in a month as disappointing corporate profit forecasts stoked concern about the economy, bruising a market already anxious about booming American oil supplies.
January 28, 2019Oil Slips as Record US Production Undermines OPEC Supply Cut
Oil retreated below $52 a barrel as data showing record U.S. crude production suggested markets may remain oversupplied despite output cuts by OPEC and its allies.
January 17, 2019Oil Extends Longest Rally in 17 Months as Supplies Seen Tighter
Oil extended its longest run of daily gains in 17 months on renewed efforts by the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts.
January 8, 2019Oil Set for Longest Gain in 17 Months on US Economy, OPEC Cuts
Oil headed for its longest stretch of daily gains in more than 17 months as the U.S. Federal Reserve sought to ease investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect.
January 7, 2019OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn
The wind changed again in a stormy oil market as OPEC signaled it will consider a return to cutting output next year, potentially making the second production U-turn this year.
November 8, 2018Trump Presses OPEC to Reduce Prices as Crude Trades Near $80
President Donald Trump resumed his criticism of OPEC, saying on Twitter that the cartel “must get prices down now!â€
September 20, 2018Follow Us
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