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. Advertisements
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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President Trump extended the trade talks with China, citing “substantial progress,” which will defuse one of the largest downside risks to the oil market, at least for a while longer.
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Oil prices rose on Friday, lifted by OPEC’s supply cuts and hopes the United States and China could soon settle their trade disputes. U.S. West Texas Intermediate (WTI) futures were at $54.10 per barrel at 0133 GMT, up 31 cents, or 0.6 percent, from their last settlement. International Brent crude oil futures were at $61.25 per barrel, up 41 cents, or 0.7 percent from their last close. “Prices supported by data showing further falls in…
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(Bloomberg) — Saudi Arabia proposed a moderate oil-production cut from OPEC and its allies that would nudge the market back into balance, seeking to walk a fine line between preventing a surplus and appeasing U.S. President Donald Trump.
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(Bloomberg) — Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut, defying a Twitter plea from President Donald Trump to keep the taps open, but their meeting didn’t agree on how big any reduction should be.
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(Bloomberg) — U.S. President Donald Trump is redirecting global oil flows.
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According to Iranian energy news website Shana, Iran’s OPEC Governor Hussein Kazempour Ardebily who represented Iran in Algiers, said the member countries present in the meeting emphasized 100 percent compliance to the previously announced OPEC-Non-OPEC agreement production cut agreement.
Read MoreThe European Commission’s president Jean-Claude Juncker held talks with the United States president Donald Trump during a visit to the White House.
Read MoreThe president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame.
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