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OPEC is poised to defy Trump once again by keeping a lid on oil output
Major oil-producing nations are leaning toward keeping a lid on production throughout 2019, defying President Donald Trump’s calls to open the taps and cut the cost of crude.
Oil prices surge on signs OPEC may extend output cuts by year-end
Oil prices have jumped at the beginning of the trading week after indications emerged from the Organization of the Petroleum Exporting Countries (OPEC) that the body may maintain production cuts until the end of 2019.
Oil rises after OPEC+ says to keep output cuts
Oil hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.
Oil producers support OPEC+ cut extension
Iraq backs an extension of the OPEC/non-OPEC production cut agreement, Thamir al-Ghadbhan, the country’s oil minister said on Sunday, while his Kuwaiti counterpart said current prices indicated the market was well-supplied, despite the US tightening sanctions on Iran.
OPEC sees more demand for its oil as it keeps cutting output
OPEC said that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.
OPEC’s April oil supply down to 30.23 mbd
The Organization of Petroleum Exporting Countries, OPEC’s April supply dropped to 30.23 million barrels per day, mbd, showing a four-year low.
OPEC in the dark on oil supply as Russia, Iran cut exports
OPEC is in the dark on the oil supply outlook for the second half of this year, with Iranian and Russian outages looking increasingly significant, sources in the organization said.
OPEC’s oil production plunges to four-year low in March
Oil supplies from OPEC sank by half a million barrels a day in March, hitting a four-year low.
Oil climbs to five-month high on OPEC cuts, US sanctions, Libya fighting
Oil prices rose to their highest level since November 2018 on Monday, driven by OPEC supply cuts, US sanctions against Iran and Venezuela and fighting in Libya as well as strong US jobs data.
OPEC cancels meeting, oil output cuts in place through June
OPEC and other major oil producers on Monday canceled a meeting planned for April, leaving the alliance's price-boosting production cuts in place until at least June.
Sanctions against Iran, Venezuela complicate efforts: Barkindo
Oil gains as OPEC defies Trump, sticks to supply cuts
Oil near 2019 highs amid OPEC cuts, US sanctions
Oil prices were around 2019 highs on Wednesday, propped up by supply cuts led by producer club OPEC and by US sanctions on Iran and Venezuela.

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