Oil Prices ///
President Donald Trump has from time to time lobbed tweets toward OPEC, imploring it to open the spigots and boost supply to lower the price of oil.
Oil held gains on signs that OPEC and its allies will extend production cuts beyond June, while prices remained capped by worsening trade relations between the U.S. and China.
From easing the limits to ending the extreme throttling-back that has seen some countries exceed original cutback targets, Russia sees a range of options that would allow OPEC+ to continue output cooperation until year-end.
Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages.
Oil producers meeting in Saudi Arabia, must assess the situation in the market before considering possible action such as extending output cuts, Russia’s Energy Minister Alexander Novak told reporters in the Red Sea city.
When OPEC meets in Jeddah, their conversation will focus on Iran.
Oil fluctuated near its lowest point since early April, as trade-war escalation raised fears about the economy even as a shutdown of a key North Sea platform added to supply disruptions.
If you have had to stop buying oil from Iran, Saudi Arabia has you covered, for June, anyway.
Saudi Arabia, the world’s biggest oil exporter, cut June pricing for all crude grades to the U.S. and raised most pricing to other regions.
Big Oil had a mixed first quarter, showing continued recovery from the biggest downturn in a generation, but chinks in their armor against the onslaught of volatile markets.
OPEC nations' volatile politics meant that oil production from the cartel held steady last month, as losses in some members were offset by gains in others.
Oil retreated amid signs of a sharp increase in U.S. crude inventories and concerns over the strength of economic growth in China.
Oil slipped again, extending its biggest retreat in two months, after U.S. President Donald Trump renewed his push for lower prices and Russia said it would soon resolve a problem with contaminated supplies.
Total boosted cash flow in the first quarter as record hydrocarbon output and soaring sales of LNG compensated for a drop in crude prices.
The biggest threat to President Trump’s hopes for low gasoline prices is his growing entanglement in the politics of OPEC nations.
Anadarko Petroleum's executives will be big winners in bidding war. Oh yeah, and the shareholders, too.
Secretary of State Mike Pompeo proclaimed America’s ability to help offset supply losses when the the U.S. vowed to stop any sales of Iranian crude. Maybe, but it would be a stretch.
The Trump administration will not renew renew waivers that allow countries to buy Iranian oil without facing U.S. sanctions.
Oil’s march back toward a four-year high is now facing some roadblocks in the form of demand in Asia, though the path may clear to allow further gains later this year.
After managing to revive oil prices through production cutbacks, OPEC now risks squandering its victory again by letting crude surge too high.