Oil jumped to the highest in more than six years after a bitter fight between Saudi Arabia and the United Arab Emirates plunged OPEC+ into crisis and blocked a supply increase. SourceContinue Reading
The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions. SourceContinue Reading
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. SourceContinue Reading
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. SourceContinue Reading
The group’s oil ministers were unable to reach a compromise, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic. SourceContinue Reading
OPEC+ fails to strike a deal, abandoning its planned meeting and leaving the oil market facing much tighter supplies than had been expected. SourceContinue Reading
Oil held steady as tensions between Saudi Arabia and the UAE escalated over the weekend, leaving the market with few clues about how supply talks will proceed on Monday after discussions reached an impasse last week. SourceContinue Reading
The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. SourceContinue Reading
The United Arab Emirates said it won’t accept a plan by other members of OPEC+ to extend the group’s agreement to curb oil production beyond April 2022, unless it’s allowed to have a higher baseline for its own cuts. SourceContinue Reading
