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Will Russia Join The OPEC Cut Extension?

As the global oil supply glut grows, Russia has not yet climbed on board of OPEC's production cut agreement extension.   (Click to enlarge)   (Click to enlarge) Chart of the Week (Click to..

Benchmark crude prices are rising after a five-day slump

benchmark crude prices are rising after a five-day slump
After a five-day streak of losses, oil prices have rallied today on hopes of an extension to the Organisation of the Petroleum Exporting Countries' (Opec) production cuts. Benchmark Brent crude..
City A.M.

Videos for "Opec Production"

News video: Oil Analyst Says OPEC Must Maintain the Cut

Oil Analyst Says OPEC Must Maintain the Cut 03:06

Apr.20 -- Independent Oil Analyst and Economist Anas Al Hajji, discusses the OPEC production cuts and where he sees oil prices heading. He speaks on "Bloomberg Markets: Middle East."
Source: Bloomberg Global Business -

News video: JPM’s Kemery Says Concerns About Oil Glut Premature

JPM’s Kemery Says Concerns About Oil Glut Premature 05:27

Apr.06 -- JPMorgan Asset Management Portfolio Manager Ebele Kemery discusses crude supply and the effect of OPEC production cuts on the oil market. She speaks on “Bloomberg Markets.”
Source: Bloomberg Technology -

News video: Woodside Petroleum CEO Sees Oil Between $45 to $60

Woodside Petroleum CEO Sees Oil Between $45 to $60 07:40

Mar.29 -- Woodside Petroleum CEO and Managing Director Peter Coleman discusses OPEC's production cuts and his outlook for the price of oil. He speaks with Bloomberg's Stephen Engle at..
Source: Bloomberg Global Business -

News video: MercBloc's Dicker Says Oil Bears Focus on Inventory

MercBloc's Dicker Says Oil Bears Focus on Inventory 05:19

Mar.27 -- Dan Dicker, president at MercBloc, talks about the market impact of OPEC's production cut, the weight of the Saudi Aramco IPO, and Russian cooperation with OPEC. He speaks on "Bloomberg..
Source: Bloomberg Global Business -

News video: Eurasia's Bremmer Sees Saudi Need to Focus on Growth

Eurasia's Bremmer Sees Saudi Need to Focus on Growth 03:28

Mar.26 -- Eurasia Group Founder and President Ian Bremmer discusses his outlook for OPEC production cuts and discusses the Saudi Arabian economy. He speaks on "Bloomberg Markets: Middle East."
Source: Bloomberg Global Business -


Oil Prices Crash Below $50 On Oversupply Fears

Crude is heading lower again, rounding out a downbeat week, as the expectation of an OPEC production cut extension is more than outweighed by an ongoing lopsided market. As oversupply fears enter the..

Oil markets remain cautious on record supplies

SINGAPORE (Reuters) - Oil opened the last day of a choppy trading week on a cautious note over doubts that an OPEC-led production cut was having the desired effect of restoring balance to a market that..

Offshore Crude Backlog Haunts Oil Price Recovery

Oil is trying to recover after yesterday's shellacking, but oversupply fears still remain. As rumors and murmurs circulate about an extension to the OPEC production cut, hark, here are five things to..

Don't Believe The Hype: Oil Markets Far From Recovery

Global oil inventories are falling because of OPEC and non-OPEC production cuts, but the road to market balance will be long. Production cuts have removed approximately 1.8 million barrels per day..

Bullish Oil Price Predictions Should Be Treated With Caution

Despite prices levelling off and a continued resurgence in American production, bullish predictions on future prices are stacking up as analysts weigh in on where oil is headed. Citigroup Inc. has..

Oil Prices Still Too Low To Allow Angola Balance Its Budget

Angola, whose economy is highly dependent on the oil industry and crude export revenues, needs a price of oil at around $85 per barrel in order to balance its budget, and persistently much lower oil..

Saudi February Crude Oil Exports Drop To 21-Month Low

As Saudi Arabia is overcomplying with the OPEC production cuts and showing fellow OPEC members a ‘lead by example’, the Kingdom cut its crude oil exports in February to the lowest level since May..

Iran Ready To Join OPEC’s Production Cut Extension

Iran, which has been exempted from the OPEC oil production cut agreement closed last November, is now ready to join the initiative as long as there is consensus among the cartel’s members. That’s..

Is Aramco IPO Behind Saudi Eagerness For OPEC Cut Extension?

Clear signs emerged this week that the OPEC production cuts in place since November 2016 may be extended past their June 2017 deadline. On Tuesday, Saudi Arabia expressed their willingness to extend..

Could An OPEC Extension Normalize Inventories?

Inventories 350 MMBO above historical average An extension of the OPEC production cuts should normalize global inventories this year, according to research by KLR Group. Announced on September 28,..

Iran Ramps Up Oil Output As OPEC Production Falls

The OPEC Monthly Oil Market Report is out with OPEC’s crude oil production numbers for March 2017. All data is through March 2017 and is in thousand barrels per day. (Click to enlarge)Looking at the..

Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

In recent years, U.S. shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors,..

OPEC’s No.2 Goes Rogue: Plans 600,000 Bpd Oil Output Increase

Iraq has plans to boost its crude oil production by 600,000 bpd to 5 million bpd by the end of this year, regardless of its participation in OPEC’s production cut deal. Iraq is the cartel’s..

China Just Became The No.1 Buyer Of U.S. Crude

While OPEC is implementing production cuts, U.S. crude oil exports are steadily growing and winning customers even in China. In February, China was the biggest buyer of U.S. light crude oil, overtaking..

The First Sign Of Tighter Oil Markets Is Finally Here

WTI and Brent crude start Q2 in the fifty dollardom, as the market continues to grapple with market rebalancing and OPEC compliance. As the market awaits signs of a tightening market, hark, here are..

Oil retreats, set to become worst-performing asset in first quarter

LONDON (Reuters) - Oil prices fell on Friday after a three-day rally ran out of steam, promising to notch up the oil market's worst-performing quarter since 2015 as investors fret that growing U.S...

Oil Prices Spike On Lower Than Expected Inventory Build

Amid supply disruptions in Libya and strengthening expectations of an OPEC production cut extension, the Energy Information Administration reported commercial oil inventories in the U.S. had gone up by..

Crude prices are rising on hopes Opec will extend its production cuts

crude prices are rising on hopes opec will extend its production cuts
Lower than expected US inventory growth, declining supplies from Libya and hopes the Organisation of the Petroleum Exporting Countries (Opec) will extend output cuts have pushed oil prices to extend..
City A.M.

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