OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady,
The decision ... formally paves the way for the participation of Brazil as a Member of the Charter of Cooperation between oil producing countries', OPEC highlighted.
Iraq reaffirmed its commitment to the OPEC+ agreement on Monday and said it would present an updated plan to compensate for any overproduction in previous periods, according to a statement from the Iraqi oil ministry.
Iraq has reaffirmed its commitment to the OPEC+ agreement, even as the resumption of oil exports from Kurdistan appears imminent.
While crude oil prices (CL=F, BZ=F) get buoyed slightly higher Wednesday morning, energy giant Occidental Petroleum (OXY) reported mixed fourth quarter earnings results: beating adjusted earnings estimates with $0.
Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit.
With growing competition from non-OPEC producers, the group may need to reassess its production strategy to avoid further declines.
Trump cannot command US oil to "drill baby, drill" as they will act in their own self interest. Likely, US oil will verbally claim to increase production focusing on tech improvements without increasing with more rigs. Exploration and drilling is long term- lasting beyond Trump's 4 year term.
Mark Rachal, director of research and publications, explains how OPEC helped the United States become the world’s largest propane exporter.
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here. How much of the global refined nickel supply comes from Indonesia? How does that compare to Indonesia’s supply in 2015? What is the projected market share for 2028?
The Organisation of the Petroleum Exporting Countries has sent a new challenge for Nigeria government to achieve crude oil production of 4 million barrels per day.
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