There has been much optimism since last week on the possibility of extending the current production-cuts agreement between the Organization of the Petroleum Exporting Countries (OPEC) and its allies beyond its expiry next March.
November 02, 2017
Saudi Arabia this week unveiled its ambitious plan to use its sovereign wealth fund, the Public Investment Fund (PIF), to move the economy away from oil.
The plan is the start of what the government coined as the Saudi Economy 2.0.
October 24, 2017
OPEC ministers will convene in Vienna on Nov. 30 to decide what actions to take in regard to the current agreement to curtail production with Russia and another nine producers.
October 18, 2017
In his book, former Saudi Oil Minister Ali Al-Naimi expresses skepticism about the willingness of Russia to join efforts made by the Organization of the Petroleum Exporting Countries (OPEC) to rebalance the market.
October 11, 2017
Oil prices have edged little lower over the past two days from near $59, but that should not be bad news for OPEC. Rather, this is good news because it will help the market stay rebalanced.
October 03, 2017
On Sept. 22 OPEC and its allies announced that the agreement to cut production by 1.8 million barrels per day (bpd) was finally succeeding in rebalancing the market.
September 26, 2017
This year marks the 57th anniversary of the creation of the Organization of Petroleum Exporting Countries (OPEC). The world’s best-known oil organization was born on Sept.14, 1960 in Baghdad with five founding members: Saudi Arabia, Kuwait, Iran, Iraq, and Venezuela.
September 19, 2017
When will the oil market rebalance? The answer to this question much depends on when the current production-cuts agreement between the Organization of the Petroleum Exporting Countries (OPEC) and other producers from outside the group finally ends.
September 13, 2017
Russian Oil Minister Alexander Novak on Tuesday told reporters that his country and Saudi Arabia had in July discussed an extension of the current deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers to cut production.
September 05, 2017
Ministers of the Organization of the Petroleum Exporting Countries (OPEC) need to change their mindset — and they need to do it soon, as the next energy super cycle will hit these countries harder than the previous one.
August 30, 2017