Tag: OPEC

• Monday, September 9th 2019 - 09:45 UTC

  OPEC+ wants to further cut output to support oil price, but admits it no longer controls the market

  

  Top oil producers will consider fresh output cuts at a meeting this week, but analysts are doubtful they will succeed in bolstering crude prices dented by the US-China trade war.

• Friday, July 19th 2019 - 09:55 UTC

  Loans from Russia and China to Venezuela will be renegotiated through the Paris Club, says Guaidó

  

  Loans to Venezuela from President Nicolas Maduro's allies Russia and China would be renegotiated through the Paris Club if Maduro leaves power, an advisor to the opposition said, responding to concerns about favorable treatment for the two countries.

• Tuesday, July 2nd 2019 - 09:20 UTC

  Oil prices slip despite OPEC cuts: fears of a weakening global economy

  

  Oil prices slipped on Tuesday as worries that a weakening global economy would dent demand for the commodity outweighed the Organization of the Petroleum Exporting Countries' (OPEC) decision to extend supply cuts until next March.

• Monday, May 20th 2019 - 09:58 UTC

  Long queues and fuel rationing in oil rich Venezuela; Army sent to “cool” angry tempers

  

  Soldiers oversaw rationing of gasoline at service stations in several parts of Venezuela on Sunday as worsening fuel shortages forced angry drivers to wait for hours to fill their tanks, prompting protests in some areas.

• Saturday, May 18th 2019 - 08:21 UTC

  OPEC meeting in Jeddah: Saudi Arabia minister promises “we will be flexible”

  

  Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil market's needs, but that he was not sure there is an oil shortage with data, particularly from the United States, still showing inventories building.

• Saturday, May 18th 2019 - 08:07 UTC

  Angry Venezuelans queue for hours because of gasoline shortage

  

  Drivers queued for hours in towns across Venezuela on Friday as fuel shortages worsened in the country following a plunge in gasoline imports and a stoppage at the nation's second-largest oil refinery.

• Wednesday, March 13th 2019 - 08:48 UTC

  Venezuela orders US diplomats to leave within 72 hours; blames Trump for the “cyber sabotage”

  

  Venezuela ordered American diplomats to leave the country within 72 hours on Tuesday after President Nicolas Maduro accused US counterpart Donald Trump of cyber “sabotage” that plunged the OPEC nation into its worst blackout on record.

• Friday, February 22nd 2019 - 09:24 UTC

  Brazilian oil production challenges OPEC' attempts to balance the market and prices

  

  While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year.

• Thursday, December 20th 2018 - 08:38 UTC

  What’s Behind The Crash In Crude?

  

  Oil prices crashed to new one-year lows on Tuesday, dragged down by a deepening sense of global economic gloom as well as fears of oversupply in the oil market itself.

• Tuesday, December 18th 2018 - 09:35 UTC

  Creditors demanding payment of US$ 1.5 billion Venezuelan bond in default

  

  A group of creditors has demanded payment on a US$ 1.5 billion Venezuelan bond that is in default, their lawyer said on Monday, kicking off a long-awaited showdown between creditors and the crisis-wracked OPEC nation. President Nicolas Maduro’s government and state-owned companies owe nearly US$ 8 billion in unpaid interest and principal following this year’s default on bonds amid a hyperinflationary collapse of the country’s once-wealthy socialist economy.