OPEC tells IMF that oil price rally mainly due to geopolitics
By Alex Lawler LONDON – OPEC told the International Monetary Fund’s steering committee on Thursday that the surge in oil prices was largely due to the Ukraine crisis, in the…
By Alex Lawler LONDON – OPEC told the International Monetary Fund’s steering committee on Thursday that the surge in oil prices was largely due to the Ukraine crisis, in the…
By Maha El Dahan, Dmitry Zhdannikov and Alex Lawler DUBAI – A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected…
LONDON – OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be…
LONDON – OPEC+ has warned the global economy would see a major blow from a prolonged conflict in Ukraine, the oil producing group said in an internal report, seen by…
By Alex Lawler LONDON – Saudi Arabia and the United Arab Emirates are among the few oil producers globally with spare capacity they could draw on quickly to increase output,…
By Liz Hampton – U.S. shale producers and OPEC, who not long ago were waging a price war, this week found themselves on similar sides as oil prices have surged…
Biden Begged Russia And OPEC For Oil Last Year. Now He’s Just Begging OPEC Thomas Catenacci on March 9, 2022 President Joe Biden has shifted from asking Russian energy producers…
By Marianna Parraga HOUSTON -OPEC has no control over the events that have led to the run up in global oil prices and there is not enough capacity worldwide to…
By Olesya Astakhova, Alex Lawler and Ahmad Ghaddar MOSCOW/LONDON – A deal among OPEC+ oil producers including Russia is showing no cracks so far after Russia’s invasion of Ukraine, OPEC+…
LONDON/DUBAI/MOSCOW – OPEC+ will probably stick with a planned increase in its oil output target for March when it meets on Wednesday next week, several sources from the producer group…
Oil prices surged again Friday after foreign producers ignored the Biden administration’s repeated requests to boost output and resolve global shortages. U.S. crude oil surpassed $80 per barrel while the…
The price of oil surged Monday after the Organization of the Petroleum Exporting Countries (OPEC) doubled down on its plans to increase oil output at a gradual rate. West Texas…