OPEC said on Monday that the Joint Ministerial Monitoring Committee (JMMC) convened in Baku, Azerbaijan, for its thirteenth meeting on March 18. Advertisements
(Bloomberg) — OPEC can make or break oil’s bull run, and hedge funds are betting the cartel will keep fueling the rally.
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OPEC members are increasingly concerned about the passage of anti-OPEC legislation in the US while President Donald Trump’s oil price-focused tweets have added new uncertainties to the market, Mohammad Barkindo, OPEC’s secretary general, said Tuesday at CERAWeek by IHS Markit in Houston.
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(Bloomberg) — OPEC is sending a clear message to Wall Street banks and big investors: If Washington passes legislation that would allow the U.S. government to sue the cartel, the first victim will be shale.
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Increased production by Nigeria and Iraq above the agreed quota by members of the Organisation of the Petroleum Exporting Countries (OPEC), in February, saw compliance level hitting 79 per cent last month, three per cent above January’s 76 per cent.
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Goldman Sachs expects OPEC to succeed in clearing what it has deemed excessive oil supply by April, when the latest production cut deal will be reviewed at a meeting of the cartel and its partners.
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OPEC+ members will decide to continue with the 1.2 million barrel per day (MMbpd) cuts announced in December to at least the end of the first six-month period, and likely beyond, at the next OPEC+ meeting in April.
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U.S. President Donald Trump is welcome to join a dialogue on balancing the global oil market, OPEC Secretary General Mohammad Barkindo told Reuters on Wednesday.
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Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against U.S. President Donald Trump’s demand to keep prices down.
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Oil prices turned sharply lower on Monday morning, reversing early gains, after U.S. President Donald Trump took to Twitter again to criticize OPEC and the high oil prices.
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