oil opec news - Search News

OPEC, Saudi Arabia

MarketWatch on MSN · 1d

Saudi minister warns of $50 oil if OPEC members don’t adhere to production cuts: report

Saudi Arabia’s oil minister reportedly warned fellow producers that oil could drop to $50 if they don’t comply with agreed production cuts.

OPEC refutes WSJ article on Saudi saying oil prices could drop to $50

OPEC said in a statement on Wednesday that a Wall Street Journal article reporting that Saudi Arabia's oil minister had said oil prices may drop to $50 if the group's members do not stick to output cuts was "wholly inaccurate and misleading".

Markets Insider on MSN · 1d

Saudi minister says crude prices could fall 33% if OPEC members don't stop pumping so much

Part of the issue is that members are not sticking to their pledged cuts. The Saudi minister called out Iraq, which surpassed its quota by 400,000 barrels per day in August, according to S&P Global Ratings data. Kazakhstan, which overproduced by 120,000 barrels a day, was also singled out.

Libya to resume oil production

Bloomberg L.P. · 11h

Libya to Restart Oil Production, Ending Crisis

Libya will resume oil production starting Thursday, the OPEC nation’s oil minister, Khalifa Abul Sadeq, told Bloomberg in an interview. The move potentially returns hundreds of thousands of barrels a day to global markets after a political standoff in the country.

The Associated Press - Busines… · 3h

Libya to resume crude oil production at two of its major fields

Libya’s state-run oil company said Thursday it was restarting full oil production, almost two months after shutting down operations in two of its major fields amid a political crisis. The National Oil Corporation said in a statement that it would resume production at the Sharara and El-Feel oil fields,

Libya Resumes Oil Production, Ending Crippling Crisis

Libya resumed oil production on Thursday, returning hundreds of thousands of barrels a day to global markets after a political standoff in the OPEC member eased.Most Read from BloombergThe Corner Store ComebackA Housing Crisis Brews in Rwanda’s Capital CityGang Violence Is Moving to the Amazon’s Fast-Growing CitiesA 7,

9h

OPEC oil output drops in September on Libyan outage, Reuters survey finds

OPEC oil output fell in September to its lowest this year, a Reuters survey found on Thursday, as unrest disrupted Libyan ...

Crude Oil Prices6h

Reuters Poll Shows OPEC September Output At Yearly Low

A Reuters survey on Thursday shows September oil production from OPEC dropping to its lowest point this year, at 26.14 ...

1don MSN

Excess OPEC capacity keeping oil prices from spiking after Iran attack, says CIBC's Rebecca Babin

Rebecca Babin, CIBC Private Wealth senior energy trader, joins 'Squawk Box' to discuss oil price trends, impact of Iran's ...

3d

Second oil company CEO conspired with OPEC to keep prices high, FTC charges

Federal regulators are alleging a major oil company CEO conspired with foreign governments to keep oil and gas prices high.

Opec sees world oil demand soaring through 2050, countering peak-oil predictions

Opec secretary general Haitham Al Ghais and his Opec research team unveiled the group's latest annual World Oil Outlook at ...

1d

Israel retaliation may target Iran oil infrastructure, boosting prices further, Wall Street analysts say

For months, traders have largely dismissed the risk of a supply disruption in the Middle East, but the threat is growing.

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