Qatar is leaving OPEC
Qatar will leave OPEC in January 2019 to focus its efforts on plans to develop and increase its natural gas production, a decision is confirmed today by the country's state oil company (the Qatar Petroleum) just More...
Crude oil rises despite weaker commodities
WASHINGTON - Crude oil futures rose Tuesday, even as US stocks and other commodities melted down. Oil has surged to 4-year highs amid speculation that OPEC will continue to cut production. Saudi Arabia and other More...
WTI oil rises above $70 a barrel on U.S.-Iran sanctions
NEW YORK - Crude futures in New York topped $70 a barrel for the first time since November 2014 as traders brace for a re-imposition of U.S. sanctions on Iran that risks disrupting exports from OPEC’s third-largest More...
Oil hits $60 a barrel for the first time in 2.5 years
HOUSTON - Oil prices spiked to their highest level in two and a half years after a pipeline exploded in Libya. Libya's state-run National Oil Corporation said the explosion jeopardized output by up to 100,000 barrels More...
OPEC reaches deal to cut oil production
VIENNA - OPEC representatives reached a deal to cut oil production after months of wrangling Wednesday, in an effort to lift sagging prices and reassert the cartel’s influence over a market increasingly dominated More...
U.S. supplies OPEC with oil in Curaçao after 40 years of export ban
WILLEMSTAD – According to Bloomberg Business, the U.S. is now supplying OPEC with crude oil. Petroleos de Venezuela SA (PDVSA) received a cargo of West Texas Intermediate crude at the end of January at a terminal More...
Iran says Venezuela meeting with OPEC will have a negative impact
CARACAS, TEHERAN - Venezuela has called an emergency meeting to discuss steps to boost oil prices, minimal since 2003. But Iran and the Persian Gulf OPEC members have refused to call a special session. The Iranian More...
The end of OPEC? Oil prices could fall to $20 per barrel
Despite the recent rise in oil prices, it is possible that in the near future it could be reduced to $ 20 per barrel, according to a report by Citigroup. Although in recent weeks the global downturn in spending More...
Venezuela and Saudi Arabia cooperate to stabilize oil prices
WILLEMSTAD - During the visit of the Venezuelan delegation to Saudi Arabia, as part of the tour of President Nicolas Maduro to the member countries of the OPEC, Riyadh and Caracas agreed to cooperate to achieve More...
Oil steady above $50 as investors take stock after slide
Brent crude oil recovered slightly after falling below $50 (33 pounds) a barrel on Wednesday for the first time since May 2009, as traders took stock after a sharp slide since the start of the year. A growing supply More...
